- Skechers (NYSE:SKX) reports its gross profit rate improved 60 bps to 47.4% in Q2. Operating earnings fell to 11.4% of total sales from 14.0% a year ago.
- Total inventories decreased 5% from December 31, 2015, and increased 26% June 30, 2015
- Company-owned Skechers retail sales increased 15.4%. Strong growth was recorded in the international business, +35% for the international subsidiary and +41% for international company-owned stores.
- The effective tax rate in Q2 fell due to a higher mix of sales from China.
- Previously: Skechers misses by $0.04, misses on revenue (July 21)
- SKX -8.33% AH to $29.50