Skechers earnings up on higher sales
From the Associated Press
Footwear company Skechers USA Inc. said first-quarter profit rose 44% on a jump in sales.
The Manhattan Beach-based company reported net income of $23.9 million, or 52 cents a share, compared with $16.6 million, or 38 cents, last year. Revenue rose 24% to $344.9 million.
Shares of Skechers rose 50 cents to $35.75 but fell $3.25, or 9.1%, to $32.50 in after-hours trading.
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