RTTNews | Apr 23, 2021 09:51AM EDT

09:51 Friday, April 23, 2021 (RTTNews.com) - Shares of footwear company Skechers U.S.A., Inc. (SKX) are up more than 14% Friday morning on robust first- quarter results.

Net earnings in the first quarter almost doubled to $98.6 million or $0.63 per share compared with $49.1 million or $0.32 per share in the comparable quarter last year. The consensus estimate of analysts polled by Thomson Reuters stood at $0.46 per share.

Sales for the quarter increased 15% year-on-year to $1.43 billion, attributed by 20.2% increase in international sales and 8.5% growth in domestic sales.

Looking forward to the full-year 2021, the company expects to achieve sales between $5.8 billion and $5.9 billion and earnings per share of between $1.80 and $2.00.

Analysts expect the company to report earnings of $1.92 per share on revenue of $5.57 billion for the period.

SKX touched a new 52-week high of $53 this morning, before sliding to trade at $50.90 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3187730/stock-alert-skechers-u-s-a-touches-new-high-as-earnings-nearly-double.aspx)

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