Consumer
Skechers Shares Fall After Reporting Struggles in Wholesale Business
A customer shops for shoes at a Skechers' store in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Skechers USA Inc. gave an earnings and sales forecast that fell below estimates as its wholesale business lags, offsetting growth of its direct-to-consumer revenue.
Direct-to-consumer revenue grew 20% in the fourth quarter, but wholesale business fell 8.3% as retailers “conservatively manage” their inventories, according to the company’s release.