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Stock Alert: Skechers U.S.A. Inc. (SKX) Shares Hit 52-Week High

Shares of footwear maker Skechers U.S.A. Inc. (SKX) touched a new 52-week high of $44.50 today, thanks to the record quarterly sales.

The company, on Feb. 6, reported Q4 net income of $59.53 million or $0.39 per share versus $47.38 million or $0.31 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.39 per share. Analysts' estimates typically exclude certain special items.

Net sales for the quarter grew to $1.33 billion from $1.08 billion in the prior year. Wall Street analysts had a consensus revenue estimate of $1.25 billion.

Comparable same store sales increased 9.9%, including growth of 10.3% domestically and 8.8% internationally.

For the first quarter of 2020, the company expects earnings per share to be in the range of $0.70 - $0.75, and sales of $1.400 billion - $1.425 billion. Analysts estimate earnings of $0.78 per share on revenue of $1.43 billion for the quarter.

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