Comparable same store sales in company-owned stores increased 9.5% vs. 9.3% expected. The comp included a 7.0% rise in the U.S. and 17.6 % internationally.
Total international wholesale sales were up 17.9% to rep 54% of total sales. Domestic wholesale sales rose 8.5% during the quarter.
Gross margin rose 230 bps to 46.7% of sales as costs were levered down.
Looking ahead, Skechers sees Q2 sales of $1.120B to $1.145B vs. $1.16B consensus and EPS of $0.38 to $0.43 vs. $0.54 consensus.
The weak guidance is hitting shares. Skechers is down 17.44% in AH trading.
Previously: Skechers EPS in-line, beats on revenue (April 19)
Now read: Crocs: Overvalued At The Current Price »
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