Skechers Steps Up Global Game With 16% Q3 Sales Growth, Boosts 2024 Targets With Strong Wholesale & Athlete Appeal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2024
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Source: Benzinga
Strong Sales Growth: Skechers reported a 15.9% year-over-year sales increase to $2.35 billion, surpassing expectations, with notable growth in Wholesale (20.6%) and Direct-to-Consumer (9.6%) segments across various regions.
Positive Outlook: The company raised its FY24 EPS guidance to $4.20 - $4.25 and sales guidance to $8.925 billion - $8.975 billion, while also seeing an 8.23% rise in share price premarket.
Analyst Views on TOGA
Wall Street analysts forecast TOGA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TOGA is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 33.418
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
