Target price $47.08
Stop loss $41.75
Fibonacci and horizontal price resistance levels as per chart
Earnings highlights
Skechers (NYSE:SKX) jumps after comparable sales in Q4 rise 9.9% to easily beat the consensus estimate of +6.3% and outpace peers.
The retailer's international wholesale business increased 32.8% during the quarter, the company-owned direct-to-consumer business increased 19.4% and the domestic wholesale business increased 10.4%.
Gross margin arrived at 47.9% vs 47.7% consensus. Operating margin was 7.1% vs. 8.0% consensus and 7.7% a year ago.
Looking ahead, Skechers sees Q1 sales of $1.400B to $1.425B vs. $1.41B consensus and EPS of $0.70 to $0.75 vs. $0.78 consensus. The guidance factors in current events in China.
SKX +7.98% AH to $41.00.