Skechers reports Q3 EPS $1.26, consensus $1.15

Reports Q3 revenue $2.35B, consensus $2.31B. Wholesale sales grew 20.6% and direct-to-consumer sales grew 9.6%. The company said, “Despite challenging market conditions in certain countries, we achieved 21% Wholesale growth, 10% Direct-to-Consumer growth, as well as 16% internationally and 15% domestically. By region, sales grew 30% in EMEA driven by double-digit growth across all countries; 14% in the Americas, reflecting particularly strong sales in the United States and Canada; and 7% in Asia Pacific with double-digit increases in many countries. With the growing awareness and broad acceptance of our comfort technology products by our partners and consumers, we believe each of these regions represent continued growth opportunities for Skechers (SKX). We continue to invest in our operational capabilities and improve the customer experience, while meeting the increased global demand for our products and positioning Skechers for profitable growth now and in the future.”