Skechers SKX shares soared 11.2% in the last trading session to close at $50.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.3% loss over the past four weeks.

U.S. stocks staged their biggest rally yesterday, after President Donald Trump announced a 90-day pause on reciprocal tariffs for all nations except China. Skechers continues to demonstrate strong momentum through its multi-brand strategy, innovative comfort-based product lines, and international expansion. Strategic investments in digital infrastructure have fueled solid growth, particularly in the wholesale and DTC segments.

This shoe company is expected to post quarterly earnings of $1.18 per share in its upcoming report, which represents a year-over-year change of -11.3%. Revenues are expected to be $2.44 billion, up 8.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Skechers, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SKX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Skechers is part of the Zacks Shoes and Retail Apparel industry. Steven Madden SHOO, another stock in the same industry, closed the last trading session 10.5% higher at $22.14. SHOO has returned -24.8% in the past month.

Steven Madden's consensus EPS estimate for the upcoming report has changed +0.4% over the past month to $0.45. Compared to the company's year-ago EPS, this represents a change of -30.8%. Steven Madden currently boasts a Zacks Rank of #4 (Sell).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Skechers U.S.A., Inc. (SKX) : Free Stock Analysis Report

Steven Madden, Ltd. (SHOO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research