Skechers Q1 Net Sales $2.41B, Adj EPS $1.17; Withdraws 2025 Guidance Amid Economic and Tariff Uncertainties

Skechers USA reported its first-quarter fiscal 2024 earnings with net sales of $2.41 billion, slightly below the estimated $2.43 billion. Adjusted earnings per share (EPS) came in at $1.17, marginally beating the estimate of $1.16. The company's gross margin was 52%, just under the expected 52.2%, while operating margin held steady at 11%, down from 13.3% year-over-year. Inventory levels rose 30% year-over-year to $1.77 billion, exceeding the estimated $1.54 billion. In light of ongoing economic volatility and uncertainties related to U.S. tariffs and trade tensions, Skechers has withdrawn its annual guidance for 2025, citing difficulties in predicting the impact of trade wars on its business. Following the announcement, Skechers' stock experienced a decline.