Skechers Sprints Past Revenue Expectations; Lemelson Still Short Stock
Skechers USA Inc (NYSE: SKX) reported fourth-quarter results on Wednesday. The company reported fourth-quarter EPS of $0.19 vs. an estimated $0.20 and revenue of $722.7M against estimates of $693.48M.
The company posted record annual sales for 2015 of $3.14 billion, a 25 percent increase.
Skechers investors were delighted with the news, pushing the stock up nearly 8 percent after market close.
In an email to Benzinga, Emmanuel Lemelson of Lemelson Capital said the firm is still short the stock. The hedge fund originally said it was shorting Skechers in June 2015.
Lemelson still estimates the stock's fair value to be between $13 and $20. The stock recently traded near the $29 range.
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