The United States announced sweeping tariffs on several trading partners, including Asian nations such as Vietnam, Indonesia, and Bangladesh, which manufacture shoes and clothes for American labels.
Economist Peter Schiff warned on Thursday that Nike Inc. won't shift production to the United States despite newly imposed tariffs, predicting higher prices and reduced domestic sales for the footwear giant.
Shares of footwear company Skechers (NYSE:SKX)
fell 21.3% in the morning session after President Trump announced "reciprocal tariffs" on all US imports, set at a minimum rate of 10%.
The SPDR S&P 500, which tracks the S&P 500, is facing heavy selling pressure in Wednesday's after-hours session following reciprocal tariffs from the Trump Administration.
Looking back on footwear stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Steven Madden (NASDAQ:SHOO) and its peers.
Over the past six months, Skechers’s shares (currently trading at $63.53) have posted a disappointing 9.2% loss, well below the S&P 500’s 6.4% gain. This was partly driven by its softer quarterly results and may have investors wondering how to approach the situation.
Billionaire investor Stanley Druckenmiller's family office Duquesne has divested his entire stake in Broadcom, simultaneously increasing his investments in major tech companies, as revealed in a recent 13-F filing.
Shares of footwear company Skechers (NYSE:SKX)
fell 14% in the afternoon session after the company reported weak fourth-quarter results. Its EPS missed significantly, and its EPS guidance for next quarter fell short of Wall Street's estimates. Also, growth was weak, as revenue was only roughly in line with expectations. The company noted ongoing challenges in China, a big consumer market. Overall, this was a softer quarter.
Footwear company Skechers (NYSE:SKX) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 12.8% year on year to $2.21 billion. On the other hand, next quarter’s revenue guidance of $2.42 billion was less impressive, coming in 2.6% below analysts’ estimates. Its GAAP profit of $0.65 per share was 12.9% below analysts’ consensus estimates.
Shares of Skechers USA are down after the company posted Q4 sales of $2.21 billion, missing expectations. EPS of $0.65 also missed the analyst consensus of $0.74.
Let's have a look at what is happening on the US markets after the closing bell on Thursday. Below you can find the top gainers and losers in today's after hours session.
