Another Shoe Company Stubs Its Toe (at Motley Fool)

By Alyce Lomax July 25, 2008 Comments (0) For the most part, shoe stocks seem down at the heels lately, as anyone familiar with Crocs (Nasdaq: ) can attest. Skechers (NYSE: SKX) reported second-quarter earnings yesterday, and let's just say that investors reacted as if they'd stepped in something unpleasant. Second-quarter net income fell 2% to $14.6 million, or $0.31 per share. Revenue almost increased 1% to $354.6 million. Even though the company was able to boost gross margin, it just wasn't enough with such weakness in sales. The results -- and expectations -- for the third quarter fell quite short of what Wall Street analysts expected. Their consensus estimate called for earnings of $0.34 per share, on revenue of $360.3 million. Skechers' third-quarter outlook wasn't heartening, either. The company expects earnings of... [read full story]