Market Overview

Skechers Sprints Past Revenue Expectations; Lemelson Still Short Stock

Related SKX
Stocks Hitting 52-Week Lows
Mid-Morning Market Update: Markets Open Lower; McDonald's Beats Q3 Estimates
Footwear stocks go in reverse (Seeking Alpha)

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.

Posted-In: Earnings News Short Ideas Hedge Funds Exclusives Movers Trading Ideas General


Related Articles (SKX)

View Comments and Join the Discussion!