Skechers (SKX)

[Picks77]

Nice day

[cakesgood]

Double bottom play. Let's see this break $35

[Fibanotch]

lll

[Sundance2]

There you go SKX that's more like it. Do it again tomorrow...

[Sundance2]

Geeez come on man +200 point day and SKX in down....WTF...Get your ass up and go to work....

[Fibanotch]

njuuiiik

[Sundance2]

Picked up some just now. Hope this has bottomed or at least see a dead cat bounce next week.

[Picks77]

Thanks for the therapy session! No worries here.

[cakesgood]

As you know you only lose money when you sell, just average down as you can. They didn't become second to nikes this year for no reason. They also have a deal with Star Wars, and we know that will be huge

[Picks77]

I hope so. I got caught in an options trade before earnings. I let the stock get put to me at $43. Figured it would come back quick. I'm impatient.

[cakesgood]

There will probably be a bounce back towards 30-33 by the end of next week. I believe the trend should start turning around after thanksgiving. Watch for a monster support bounce off of the $25 zone. Have patience and eat up all the shares you can down here. This stock will be back over $150 within the next 2 years

[Picks77]

When is the sell off gonna stop? I feel this is way oversold.

[cjmeyer]

Plenty of upside here after Wall Street is done manipulating it

[Sundance2]

IMO, a great entry point. May not have been the absolute bottom but I rarely hit that anyway. However, if I can just get close I'm satisfied. This has the potential to recovery very quickly and with holidays around the corner we all know that these stocks tend to run up and with this getting slammed it just sets this one up nicely.

I up $2 already, so in just a few hours after buying, nice 6% gain.

Only draw back I see is market has been running hot this week so sometime nest week we could see a little pull back IMO.

[gregque]

weinberg was great on cramer

[gregque]

i believe most of that 14 will be back monday imma say it goes up 10

[Picks77]

Way over sold.

[Scrapiron]

I bought more at $32.05 I think we are going to be just fine!

[girlfriend]

I got in at 29.90 yesterday just looking for a pop.

[gregque]

i got in at 30 too... looking for a nice pop monday

[Picks77]

I agree.

[Sundance2]

Could not resist, had to hit the buy button when I saw $30. This is way over done and expect to see nice gains in very short time...Monday would be fine with me...

[Scrapiron]

Mma20,

Skechers reports their quarterly earnings on Tuesday, October 20th, after the market closes. Analyst estimates for earnings is $1.65 per share.
The 3 for 1 stock split is scheduled for Thursday, October 15th.

[Mma20]

When are earnings and when is the spilt thanks

[Coachshot99]

I think we see new highs before split in October. I'm holding. Next Q will beat estimates again. And forward splits get people excited. I see this at $55+ post split and it will work back to $100+ in less than a year.

[roger wilco]

SKX bouncing back real nice

[cakesgood]

It looks like inventors confidence has been obliterated. China gone fudged everything up.

[Jimbo162]

Markets are a bloodbath, sold my SKX for 144 last week and bought SDS, SH and DOG. Held my profits on SKX and now up a bunch with inverse ETF's. Still see more downside potential for the markets going into September, only time will tell. It may get worse before it gets better.

[Jimbo162]

Cakesgood-market corrections are like death and tax's. They always happen. Look at any 10 or 20 year chart of the s&p, corrections of 10-15% happen regularly. Investors lose faith in the markets or recessions hit etc. High flying stocks that have risen 200% or more sometimes get hit the hardest, they have high PE and many long term holders that are up say 50K (like me with SKX) and if the price drops to say 142-145 I would cut and run and keep my profits intact. Markets today are so obviously manipulated, look at last monday. The markets were down 2-3% all day, then miraculously at about 3:30 volume surged and we finished the day up 4 points. The powers that be move markets using HFT etc and with a few clicks on a mouse move markets all the time, you can see it happen if you know where to look. As i see it we have not seen a correction of more than 7-8% since about 2011. If history tells us anything, it is that a correction is well overdue. It is best to be cautious, use some inverse ETF's that i am currently initiating like SH, DOG and SDS. I ain't saying load the truck, yet. But I am seeing and reading some weakness but wonder....how long will the powers that be keep supporting these bloated markets?

[cakesgood]

I only recently began investing, so my question may seem a bit juvenile. I understand why a market pullback occurs, but in this situation why would it happen? Like you said they will continue to increase earnings. If the stock is hot and constantly producing positive numbers that exceed expectations, then why would it pullback? When one person sells another eats up the lower pps. Do you think the company will split before a market pullback and if that occurs will a pullback even take place? Have you seen anything like this stock before?

[Jimbo162]

I was fortunate to get in last year at $50 and doubled up in March. Cramer had the CEO on his show and i was impressed. At $62 Cramer said it was an easy double, boy was he right as earnings keep blowing away estimates. I have a local outlet mall with a skechers store and it is jammed whenever i shop. I love the shoes and find them more comfortable than nike. Even bought the wife a couple pair, she has 14-15 sneakers of some sort and also loves her new shoes. I am bullish on SKX but can only offer caution to anyone buying at this lofty level. Last week we saw $146 ish so look to accumulate on any dips this should continue to gain thru 2016. The only drawback i see is the potential for a market pullback. We haven't seen a real correction since....i can't recall, maybe 2011.

[Fibanotch]

l

[cakesgood]

The great thing about shoes is they sell themselves. It is a market that will exist until we evolve past feet haha. Sketchers has set up their next quarter very nicely. We have back to school, which combats the typically slow August and September. We have the pending joint release of star wars shoes with the movie. We are conquering the global. Our models are super sexy, our styles are ahead of the market, and money management is superb. I'm jealous, I finally grabbed some 147s, which I plan to hold for a long time. I had the opportunity to get 40s last year. I'm regretting my decision now. But luckily there will be plenty of money to be made.

[Coachshot99]

For what it's worth, I went to the Skechers store at two malls this weekend and they were out of control packed with customers. A lot of back to school and a lot of adults buying shoes. I know it's a small snapshot, but Q3 will be up IMO. I'm long from $123 by the way.

[cakesgood]

I can understand from a technical point of view why people are thinking short. I mean look at the RSI on the weekly chart! It's been flying high for so long. There are gaps galore that should have been filled, but clearly haven't. I personally thought when it gapped from 80-100 that it would retrace, but boy was I wrong. Same with the most recent gap. But as they say do not fight a chart with momentum, you will not win. I read an article saying that like 90 firms increased their share count of skx, while a small handful cashed out. If you take a look at Nike, you'll see that they have been trending up for years with multiple splits and dividends. Skx has no dividends or splits, we are at the beginning of this adventure. I could see skx taking the lead over Nike at some point in the near future, they are killing it and have no signs of slowing down, unless of course they get sued in some respect, then expect the shorts to be all over this. As for tomorrow we shall see a break of 160 and a continued trend, hopefully.

[Jimbo162]

The shorts have had their way last week. I use another board and enjoy jacking them up from time to time. They were in force at 110 then at 120 but have sort of been out of site lately. I can only warn, why try shorting one of the hottest sectors and stocks out there? Just look at the energy sector, many short sale candidates. Even the miners (the last 4-5 days have been an exception) are shorted to death. But trying to time a short on SKX is foolish and kinda like going to the casino and putting your money on red or black, sometimes you win and sometimes you lose.

[cakesgood]

All of these shorts must be scramblin

[Jimbo162]

Buy these corrections or pullbacks, it still has room to run. Just look at the last 2 earnings reports. Profits are sure to follow thru year end.

[cakesgood]

I've been following this for sometime, but sadly never grabbed a position until recently. After the first gap from 80-100 I was certain it would pull back. Once it reached 105 I was certain it had found resistance. Right around 120 I was like this is it, we will finally get a healthy pull back and will continue pushing. Well we are trading above 150 with pending news of a Star Wars "partnership", or whatever you want to call it. Typically August and September are slow, but with increase in revenue and the recruitment of extremely notable celebrities this thing has no slow down in sight. Unless of course we hear of a lawsuit, but it seems that Skx are the ones suing people. I finally picked up a small position at 147 yesterday on the pull back. This chart is easy to play and has very strong support from investors and employees. Analysts rating are overwhelming buys with some holds. High prediction is $208, mid range is $160, and the low end is $125. I'm in for the long haul unless something devastating occurs. I would expect to see a split at some point and potential dividend offerings. Nike will be a thing of the past

[Jimbo162]

I love SKX, nice position since last fall and what a ride. We may finally get a correction this fall. If not this will keep running as earnings keep going up and up. I also bought a couple pair of shoes for myself and the wife. We love the selection and quality. Note:Cramer jumped on the bandwagon around the first of this year and has had the CEO on his show 2 or 3 times discussing growth plans so they have room for growth. I am not a big cramer fan, sometimes his picks tank but he claimed back in march when it traded for $62 this was an easy double....right so far.

[Andrew23]

And to think that Fitbit has a higher market cap...

[roger wilco]

SKX has been a rocketship.

[cakesgood]

I think skx will surpass nke within the next few years, not value wise, but through global reach. They have a much more aggressive business plan and are constantly inventing new technologies for their shoes ie. hidden wedges and memory foam soles. Too many good things to come especially this year.

[Andrew23]

Yeah man I see more upside when you compare them to other brands. Under Armour has a MUCH higher market cap. I know they are more of a clothing brand but I think SKX has the potential to have the same market cap as UA.

The financials are great as well. The P/E ratio is very reasonable too.

[cakesgood]

I'm going to start a position today. Upside is $208 and with the pending release of the Star Wars line that coincides with the release of the movie. I see it moving much higher. I can't believe they do not offer dividends.

[Andrew23]

You got a position here? I'm thinking of getting a position and holding long. I still think there is good upside.

[roger wilco]

SKECHERS ANNOUNCES RECORD SECOND QUARTER 2015
FINANCIAL RESULTS

Record Net Sales of $800.5 Million, an Increase of 36.4 Percent
Record Earnings from Operations of $112.3 Million
Record Net Earnings of $79.8 Million
Record Diluted Earnings per Share of $1.55

MANHATTAN BEACH, CA. – July 29, 2015 – SKECHERS USA, Inc. (NYSE:SKX), a global leader in footwear, today announced financial results for the second quarter ended June 30, 2015.
Second quarter 2015 net sales were $800.5 million compared to $587.1 million for the second quarter of 2014. Gross profit for the second quarter of 2015 was $374.6 million, or 46.8 percent of net sales, compared to $269.4 million, or 45.9 percent of net sales, for the second quarter of last year. Earnings from operations for the second quarter of 2015 were $112.3 million, or 14.0 percent of net sales, compared to net earnings from operations of $53.8 million, or 9.2 percent of net sales for the second quarter of 2014.



Net earnings in the second quarter of 2015 were $79.8 million compared to net earnings of $34.8 million for the second quarter of 2014. Diluted net earnings per share in the second quarter of 2015 were $1.55 based on 51.3 million weighted average shares outstanding compared to diluted net earnings per share of $0.68 based on 50.9 million weighted average shares outstanding for the same period last year.

“The continued strong demand for our product worldwide led to record quarterly financial results for the second quarter—including net sales, earnings from operations and earnings per share. Our second quarter net sales of more than $800 million combined with record sales in the first quarter resulted in the Company achieving $1.57 billion in sales for the first half of 2015,” began David Weinberg, chief operating officer and chief financial officer. “Driving this growth were double-digit increases in our three main business channels: domestic wholesale with an average price per pair increase of 9.0 percent; international wholesale, which includes 665 third-party-owned Skechers retail stores; and Company-owned Skechers domestic and international retail stores with a total comp store sales increase of 12.9 percent for the quarter. Furthermore, the second quarter benefitted from both pent up demand resulting from U.S. port issues in the first quarter as well a shift in back-to-school shipments due to increased demand in both domestic and international markets. Our international subsidiary business also remained strong with double-digit increases despite currency headwinds in several key markets.”



For the six months ended June 30, 2015, net sales were $1.57 billion compared to net sales of $1.13 billion in the first six months of 2014. Gross profit for the first six months of 2015 was $707.1 million, or 45.1 percent of net sales, compared to $509.8 million, or 45.0 percent of net sales, for the first six months of 2014. Earnings from operations for the first six months of 2015 were $200.5 million, or 12.8 percent of net sales, compared to earnings from operations of $101.9 million, or 9.0 percent of net sales, for the first six months of 2014.

Net earnings in the first six months of 2015 were $135.9 million compared to net earnings of $65.8 million in the same period last year. For the first six months of 2015, diluted net earnings per share were $2.65 based on 51.3 million weighted average common shares outstanding compared to diluted net earnings per share of $1.29 based on 50.9 million weighted average common shares outstanding for the first six months of 2014.



Robert Greenberg, SKECHERS chief executive officer, commented: “Skechers is clearly in the midst of the most exciting time in the Company’s 23-year history. The present has never looked as colorful, comfortable and successful thanks to our product and marketing, and resulting record sales, shipments and earnings. We just announced the signing of global pop singer Meghan Trainor, and together with Demi Lovato we are capturing the attention of 12 to 24 year olds worldwide. During the second quarter, we announced that boxing great Sugar Ray Leonard joined our team of accomplished athletes and brand ambassadors, including Pete Rose and his #PeteintheHall campaign. Together, they and legendary musician Ringo Starr are speaking to Generation X and Baby Boomers with their humorous television commercials for Skechers Relaxed Fit footwear. Our numerous other impactful lifestyle campaigns along with our targeted marketing for Skechers Performance and Skechers Kids lines are resonating with our diverse consumer base. Our efforts in product and marketing also resulted in Skechers becoming the No. 2 athletic footwear brand and the No. 1 walking brand in the United States. While domestic wholesale remains the largest piece of our business at 42 percent, the highest channel increase in the second quarter came from our international segment, which improved by 60 percent and now represents 30 percent of our total sales. With 1,126 Skechers retail stores worldwide, including the new markets of Czech Republic, Nigeria and Alaska, our global footprint is expanding steadily with additional Skechers stores already opened in the third quarter by our international distribution partners in Russia, Australia, Taiwan and Ireland, a joint venture store in India, and another six domestic and international Company-owned stores. The demand for Skechers footwear in markets worldwide continues, and we are excited for several new product introductions coming later this year—including Star Wars® from Skechers shoes for boys and men, along with some developments in our Skechers Performance and athletic lifestyle divisions. We believe that our accelerated growth trend will remain through 2015 and into 2016.”
Mr. Weinberg added: “Our record first half of 2015 follows a record 2014, and is a result of the universal demand for our wide assortment of diverse footwear collections for men, women and kids. At no other time in the history of our company have so many product lines resonated with consumers, giving us a broad base to continue to build upon and grow. With increased year-over-year backlogs at the end of June, strong incoming order rates and July sales, as well as the positive sell-through reports from wholesale and an additional 125 to 135 Company-owned and third-party-owned Skechers retail stores planned to open later this year, we believe that we will continue to achieve new sales and profit records through 2015. With $513.9 million in cash, inventories in line with sales, and improved efficiencies and capacity in both our North American and European distribution centers, we believe we are well prepared for our planned growth. We remain comfortable with the analysts’ current consensus estimates for the back half of 2015.”

About SKECHERS USA, Inc.

SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,100 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).

[Coachshot99]

Stupid me... I've been wearing these shoes for years but just decided to buy shares a few weeks ago. Better late than never. I think Q3 will outperform Q2 and eventually they will split this to make the price per share more attractive. Just my opinion.

[Scrapiron]

Last after hours stock price was $144.00

[Scrapiron]

As of 7:02 P.M. (After Hours) Skechers is $142.11 You read that right! SKX is up another $14.00 after hours!