Yes believe it or not there is a consumer retail stock that is 2nd in the nation in sneaker sales and is trading at a PE just over 6.
Skechers USA targets mostly the girls with their flashy & colorful sneakers. Everytime my little girl catches one of the Skechers commercials she does not waste the chance to let me know she wants one of those colorful sneakers for XMAS. Its hard for dad's to break their little girls hearts when it comes to their girls Xmas wish list.
I was shocked going online and finding (NYSE:SKX) shares down -50% in the last 90 days. Like they say with trends, what goes up must come down, the opposite is true here, what comes down must go up especially when earnings keep coming in like they have for (SKX).
(SKX) is on my girls Xmas wishlist and on my Stock buy List.
3 month bottom for (SKX) is in, $38 to $19 in 3 months
Shares of (SKX) started going down 3 months ago and now with only 3 weeks till Christmas buying season, the shares look perfect for value investors looking to buy retail stocks ahead of Christmas buying season.
Skechers USA Inc. (NYSE: SKX - News), the designer, marketer and distributor of footwear, recently delivered third-quarter 2010 results that missed the Zacks’ expectation for both the top and bottom lines. The Zacks Consensus Estimate had been falling prior to the earnings announcement.
The quarterly earnings of 74 cents a share jumped 42.3% from 52 cents delivered in the prior-year quarter but missed the Zacks Consensus Estimate of $1.00.