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DJ Skechers USA Reports 4Q Fincl Results, Shares Trade Lower

· 02/04/2021 16:58
By Stephen Nakrosis

Shares of Skechers USA Inc. were trading lower in Thursday's after-hours market, following the company's release of fourth-quarter earnings that showed a decline in sales and lower earnings per share.

At 4:40 p.m. EST, the company's shares were trading 6.51% lower, at $34.76. Volume at the time topped 71,000 shares.

The company's stock finished the day's regular session with a 3.85% gain, closing at $37.18.

After the bell Thursday, the footwear, apparel and accessories company reported fourth-quarter sales of $1.32 billion and earnings per share of 34 cents, which the company said included a one-time tax benefit of 10 cents a share.

In the year-ago period, the company reported sales of $1.33 billion and earnings per share of 39 cents a share.

"In the face of the continuing global pandemic, Skechers experienced sales down only half a percent from the record fourth quarter sales of 2019, a significant accomplishment during this challenging time and a testament to the strength and relevance of our brand," said David Weinberg, the company's chief operating officer.

For the full year of 2020, the company said, sales were down 11.9%, "reflecting the impact of the global pandemic on the company's businesses worldwide."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 04, 2021 16:58 ET (21:58 GMT)

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