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Skechers Tops Fiscal Year, Quarter Expectations

Manhattan Beach, Calif.-based Skechers USA, Inc. hit Wall Street expectations during its fourth quarter of 2014.

The firm reported profits of $21.9 million, or 43 cents per diluted share. It was a 54 percent increase compared to the year-ago period of $14.2 million, or 28 cents per diluted share. The analysts predicted 43 cents a share.

Sales for the quarter were $569.7 million compared to the fourth quarter of 2013, when sales were $450.7 million. Market watchers had just expected the firm to make $542.75 million in sales.

For the entire year, sales were $2.38 billion, beating the analyst-predicted $2.35 billion. It was a record sales year for Skechers, which saw sales top $1.85 billion in 2013.

Net earnings in fiscal year 2014 were $2.72 per diluted share, which just made analyst predictions.

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