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International sales soar at Skechers

|About: Skechers U.S.A., Inc. (SKX)|By:, SA News Editor

Skechers (NYSE:SKX) reported an unexpected loss in Q4, although the numbers were clouded by a one-time tax expense. Adjusted EPS topped estimates.

International sales soared 40% during the quarter, while domestic wholesale sales were up 11.6%.

Company-owned global retail sales increased 25.8% Y/Y.

Gross margin increased 20 bps to 46.8% of sales, while operating margin improved 200 bps to 5.7%.

CEO update: "“The four record sales quarters in 2017 resulted in a new annual sales record of $4.16 billion, an increase of over $600 million from the previous year’s sales. This growth is a testament to the worldwide strength and relevance of our product, marketing and brand."

Looking ahead, Skechers expects Q1 sales of $1.175B-$1.2000B vs. $1.23B and EPS of $0.70-$0.75.

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