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DJ Update: Skechers Stock Falls Following Earnings Miss -- MarketWatch

· 02/04/2021 16:47
For more from MarketWatch: http://www.marketwatch.com/newsviewer

Skechers U.S.A. Inc. (SKX) shares declined in the extended session Thursday after the footwear company's earnings fell short of Wall Street expectations. Skechers shares fell 6% after hours, following a 3.9% rise in the regular session to close at $37.18. The company reported fourth-quarter net income of $53.3 million, or 34 cents a share, compared with $59.5 million, or 39 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 24 cents a share, compared with 39 cents a share in the year-ago period. Revenue declined to $1.32 billion from $1.33 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast 30 cents a share on revenue of $1.31 billion. Skechers said it was not providing an outlook because of the disruption and uncertainty stemming from the COVID-19 pandemic.

-Wallace Witkowski

(END) Dow Jones Newswires

February 04, 2021 16:47 ET (21:47 GMT)

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