Advertisement
Australia markets closed

  • ALL ORDS

    7,837.40
    -100.10 (-1.26%)
     

  • ASX 200

    7,575.90
    -107.10 (-1.39%)
     

  • AUD/USD

    0.6535
    +0.0012 (+0.18%)
     

  • OIL

    83.66
    +0.09 (+0.11%)
     

  • GOLD

    2,349.60
    +7.10 (+0.30%)
     

  • Bitcoin AUD

    97,880.60
    -1,054.49 (-1.07%)
     

  • CMC Crypto 200

    1,333.04
    -63.49 (-4.55%)
     

  • AUD/EUR

    0.6108
    +0.0035 (+0.57%)
     

  • AUD/NZD

    1.0994
    +0.0037 (+0.33%)
     

  • NZX 50

    11,805.09
    -141.34 (-1.18%)
     

  • NASDAQ

    17,718.30
    +287.79 (+1.65%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • Dow Jones

    38,239.66
    +153.86 (+0.40%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

Skechers Runs Full Speed Ahead After Upgrade, Earnings Results

Investing.com

Investing.com - Shares of shoe company Skechers took off on Friday after the company reported strong second-quarter results and was upgraded by analysts at Wedbush.

Skechers jumped 13% in midday trade after reporting earnings of $0.49 per share, while sales rose 11% to $1.26 billion.

“We experienced growth in every region, with the biggest dollar increases coming from India, the Middle East and China, as well as in Mexico with the conversion of the business to a joint venture,” Skechers Chief Operating Officer David Weinberg said in a statement.

Analysts at Wedbush upgraded the shoemaker to outperform and raised its price target to $46 from $31 due to the strong results, according to published reports.

ADVERTISEMENT

Elsewhere, Nike (NYSE:NKE) inched up 0.1%, while Deckers Outdoor (NYSE:DECK) fell 0.4% and Crocs (NASDAQ:CROX) rose 1%.

Related Articles

Cummins makes offer for VW's large engines unit: sources

Turkey stocks higher at close of trade; BIST 100 up 0.28%

Exclusive: Apollo Global makes offer for France's Coface - sources