Stock Monitor: Caleres Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free earnings report on Skechers U.S.A., Inc. (NYSE: SKX) ("Skechers"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=SKX. The Company released its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company registered a growth in net sales of 27.0% in Q4 FY17, beating market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Caleres, Inc. (NYSE: CAL), which also belongs to the Consumer Goods sector as the Company Skechers U.S.A. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CAL
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Skechers U.S.A. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=SKX
Earnings Highlights and Summary
Skechers reported net sales of $970.59 million in Q4 FY17, which were above the $764.29 million recorded in Q4 FY16. The net sales numbers topped market forecasts of $879.1 million. During the reported quarter, the Company's international wholesale business surged 40.2%, while its domestic wholesale and global retail business reported net sales growth of 11.6% and 25.8%, respectively. Moreover, the Company's comparable same store sales grew 12.0% in Q4 FY17.
The shoe Company's net loss came in at $66.65 million, or $0.43 loss per diluted share, in Q4 FY17 compared to net earnings of $6.66 million, or $0.04 per diluted share, in Q4 FY16. Adjusting for the one-time expense attributable to the Tax Cuts and Jobs Act 2017 (TCJA), the Company's adjusted net earnings were $33.29 million, or $0.21 per diluted share, in Q4 FY17. Meanwhile, Wall Street had expected the Company to report adjusted net earnings of $0.13 per diluted share.
During FY17, the Manhattan Beach, California-based Company's net sales rose 16.9% to $4.16 billion from $3.56 billion a year ago. The Company's net earnings stood at $179.19 million, or $1.14 per diluted share, in FY17 compared to $243.49 million, or $1.57 per diluted share, in FY16. Meanwhile, after adjusting for the one-time expense attributable to the TCJA, the Company's adjusted net earnings were $279.31 million, or $1.78 per diluted share, in FY17.
Operating Metrics
In Q4 FY17, the Company's gross profit was $454.08 million, or 46.8% of net sales, compared to $356.21 million, or 46.6% of net sales, in Q4 FY16. For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) were $404.73 million, or 41.7% of net sales, compared to $332.93 million, or 43.6% of net sales, in Q4 FY16. The Company's earnings from operations also increased to $55.65 million, or 5.7% of net sales, during Q4 FY17 from $28.26 million, or 3.7% of net sales, in the last year's same quarter.
Cash Matters and Balance Sheet
Skechers generated net cash from operating activities of $159.34 million in FY17 compared to $361.62 million in FY16. The Company had cash and cash equivalents worth $736.43 million at the close of its books on December 31, 2017, versus $718.54 million as on December 31, 2016. The Company increased its long-term borrowings during the fiscal year, which stood at $71.10 million as on December 31, 2017, compared to $67.16 million as on December 31, 2016. Furthermore, the Company had merchandise inventories to the tune of $873.02 million as on December 31, 2017, versus $700.52 million as on December 31, 2016.
Share Buyback
In February 2018, the Company's Board of Directors authorized a stock repurchase program to repurchase up to $150 million of its Class A common stock through February 08, 2021, in the open market at prevailing prices.
Stock Performance Snapshot
March 12, 2018 - At Monday's closing bell, Skechers U.S.A.'s stock dropped 2.25%, ending the trading session at $40.45.
Volume traded for the day: 1.59 million shares.
Stock performance in the last month - up 5.95%; previous three-month period - up 14.36%; past twelve-month period - up 54.15%; and year-to-date - up 6.90%
After yesterday's close, Skechers U.S.A.'s market cap was at $6.32 billion.
Price to Earnings (P/E) ratio was at 22.65.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry. This sector was up 0.3% at the end of the session.
--
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
