Skechers Cautious About Singles Day Sales in China -- Market Talk

Dow Jones

2024-10-25

1838 ET - Skechers's sales performance in China remained under pressure in the latest quarter as it deals with higher inventory levels in the country. The shoe maker saw a 5.7% decline in sales in China, coming below initial management expectations for the quarter, Operating Chief David Weinberg says on a call with analysts. "We have modest expectations for the balance of the year, including Singles day," the biggest shopping day in China. Still, Skechers opened 20 company-owned stores in China during the third quarter, and has so far opened 4 new locations in the current quarter. Shares rise 5.5%, to $65, in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

October 24, 2024 18:38 ET (22:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The shoe maker saw a 5.7% decline in sales in China, coming below initial management expectations for the quarter, Operating Chief David Weinberg says on a call with analysts. \"We have modest expectations for the balance of the year, including Singles day,\" the biggest shopping day in China. Still, Skechers opened 20 company-owned stores in China during the third quarter, and has so far opened 4 new locations in the current quarter. Shares rise 5.5%, to $65, in post-market trading. 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The shoe maker saw a 5.7% decline in sales in China, coming below initial management expectations for the quarter, Operating Chief David Weinberg says on a call with analysts. \"We have modest expectations for the balance of the year, including Singles day,\" the biggest shopping day in China. Still, Skechers opened 20 company-owned stores in China during the third quarter, and has so far opened 4 new locations in the current quarter. Shares rise 5.5%, to $65, in post-market trading. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SKX":"斯凯奇"},"translate_title":"斯凯奇对光棍节在华销售持谨慎态度——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKX":0.9},"content_text":"1838 ET - Skechers's sales performance in China remained under pressure in the latest quarter as it deals with higher inventory levels in the country. The shoe maker saw a 5.7% decline in sales in China, coming below initial management expectations for the quarter, Operating Chief David Weinberg says on a call with analysts. \"We have modest expectations for the balance of the year, including Singles day,\" the biggest shopping day in China. Still, Skechers opened 20 company-owned stores in China during the third quarter, and has so far opened 4 new locations in the current quarter. Shares rise 5.5%, to $65, in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 24, 2024 18:38 ET (22:38 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}