What To Know: EPS came in at $1.34, beating the consensus estimate of $1.17. International sales represented 65% of the total, with notable regional gains in Europe, Middle East and Africa (up 14%) and the Americas (up 8%), while Asia-Pacific declined 3% due to softness in China. On a constant currency basis, total sales rose 9%.

Both wholesale and direct-to-consumer segments grew, up 7.8% and 6% respectively. Gross margin dipped slightly to 52% due to lower average selling prices.

Skechers emphasized ongoing investment in China and highlighted new innovations like its Hands Free Slip-ins technology and global marketing campaigns.

Despite the strong quarter, Barclays lowered its price target on the stock from $77 to $53, while Piper Sandler cut its target to $45 from $50.

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How To Buy SKX Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Skechers’ case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, SKX has a 52-week high of $78.85 and a 52-week low of $44.50.