Skechers Steps Up Global Game With 16% Q3 Sales Growth, Boosts 2024 Targets With Strong Wholesale & Athlete Appeal
Portfolio Pulse from Lekha Gupta
Skechers U.S.A., Inc. (NYSE:SKX) reported a 16% year-over-year sales growth in Q3, surpassing expectations. The company raised its FY24 EPS and sales guidance, driven by strong wholesale performance and athlete endorsements. SKX shares rose 8.23% premarket.
October 25, 2024 | 12:36 pm
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Skechers reported a 16% increase in Q3 sales, beating expectations. The company raised its FY24 EPS and sales guidance, driven by strong wholesale growth and athlete endorsements. SKX shares rose 8.23% premarket.
Skechers' strong Q3 performance and raised guidance indicate positive market sentiment, likely driving the stock price up. The 8.23% premarket increase reflects investor confidence in the company's growth strategy.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Skechers through the Managed Portfolio Series Tremblant Global ETF (NYSE:TOGA).
TOGA provides indirect exposure to Skechers' positive performance. As SKX shares rise, TOGA may benefit, though the impact is less direct compared to holding SKX shares.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50