Skechers Stock Up 13 Percent After Earnings Beat

Skechers (NYSE: SKX) on Wednesday reported its fourth-quarter earnings. The company was up $3.97 or 13.24 percent in after-hours trading, representing a growing optimistic ideology with Skechers.Skechers was originally thought to have been a failing company, though this recent earnings reports shows other signs. The shoe company reported fourth-quarter earnings per share of $0.28, which compared with $0.08 per share last year. Revenues were up 14 percent to a whopping $450.7 million, which compared to $395.6 for one year before. The company has also stated that it expects to see increased international sales, which would in turn ameliorate its effective tax rate.Here is what Skechers CEO Robert Greenberg has to say about these quarterly results: “The momentum we experienced in the first nine months of 2013 continued in the fourth quarter, which resulted in the second highest fourth quarter sales in the Company's history and a 13.9 percent net sales increase for the period on top of last year's fourth quarter net sales gain of 39.7 percent.”Skechers also issued guidance and is expecting to open between 60 to 70 corporate stores in 2014.