July 19, 2018 / 8:36 PM / 5 months ago

CORRECTED-Skechers quarterly same-store sales miss estimates

(Corrects to same-store sales from sales in headline and first paragraph in July 19 story)

July 19 (Reuters) - Footwear maker Skechers USA Inc missed estimates for quarterly same-store sales on Thursday, due to a drop in sales at its domestic wholesale business and international distributor unit, sending the company’s shares down nearly 23 percent after market.

Same-store sales in the second quarter was up 4.5 percent, missing analysts’ estimate of 5.20 percent, according to Consensus Metrix.

The company’s forecast for third-quarter sales also missed analysts’ estimates, according to Thomson Reuters I/B/E/S.

Net earnings attributable to Skechers fell to $45.3 million, or 29 cents per share, in the second quarter ended June 30, from $59.5 million, or 38 cents per share, a year earlier.

Reporting by Nivedita Balu in Bengaluru

Nuestros Estándares:Los principios Thomson Reuters
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