Ticker delayed 20 minutes
Avg Daily Volume: 1,938,292 Market Cap: 4.83B
Sector: Consumer Goods Short Interest: 9.17
EARNINGS EXPECTATIONS:
THIS QTR: EPS: .34/share REV: 1,220/M
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LAST QTR: EPS: .72/share ACTUAL: .71/share (MISS)
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NEXT QTR: EPS: .65/share REV: 1,310/M
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FULL YR: EPS: 2.05/share REV: 5,000/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD: 62% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -15.98, 18.95, 22.39
POTENTIAL JUMP MOVE: 18-25%
Links To Latest News and Headlines
The footwear industry is garnering attention as companies like Skechers USA (SKX) and Deckers Outdoor (DECK) beat earnings expectations. Wedbush Securities senior equity research analyst specializing in apparel & footwear Tom Nikic joins Market Domination to provide insights into the current footwear landscape. Nikic observes that “the consumer has become more discerning” with the shrinking of pandemic-era savings, inflation’s rise, and declines in consumer confidence. As a result, shoppers are becoming more selective in their footwear choices, choosing brands that offer innovation while sidelining others. He highlights Deckers Brands subsidiary Hoka as an example. Nikic notes that the running shoe brand is “incredibly comfortable,” prioritizing feel over aesthetics. Initially deemed “an ugly shoe,” Hoka has found success by focusing on comfort rather than appearance. Nikic believes this strategy focusing on “what feels great” over what looks good, has propelled the brand’s popularity. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
Sector Update: Consumer Stocks Higher in Late Afternoon Trading
Sketchers’ (SKX) Q2 earnings decline y/y. The company focuses on innovation and partnerships, aiming for $10 billion in annual sales by 2026.
More robust performance offerings in basketball and soccer are expected to boost customer acquisition.
Skechers U.S.A., Inc. ( NYSE:SKX ), might not be a large cap stock, but it saw a decent share price growth of 13% on…
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