Skechers USA, Inc. raised its guidance for fourth quarter 2005 revenues to the range of $220 million to $223 million, above the high-end of the company's previous guidance of $210 million to $220 million, and $1.003-$1.006 billion for the full year. The company now expects diluted earnings per share to be 12 cents to 14 cents for the Q4, and $1.04 to $1.06 for the full year, exceeding First Call Consensus of 6 cents and 98 cents for the fourth quarter and the full year, respectively. The company's previous guidance for the fourth quarter was 2 cents to 7 cents.
“We are excited about our better-than-anticipated results for the fourth quarter and our expected billion dollar-plus net sales for the full year, and that we have achieved these sales gains with increased profitability,” began Robert Greenberg, chief executive officer of SKECHERS. “We believe we will continue this momentum into 2006 based on our key indicators — including the great customer reaction during our January pre-line reviews and positive comp sales in our own retail stores last month. We are looking forward to WSA's The Shoe Show in Las Vegas this weekend as well as the upcoming trade show season, and our continued success in 2006.”
