Skechers Shares Plunge 9% on Q3 EPS Miss & Weak Guidance 
<p><a href='https://financialmodelingprep.com/financial-summary/SKX'>Skechers USA (NYSE:SKX)</a> shares dropped more than 9% today following the company’s reported Q3 results, with EPS of $0.64 coming in worse than the Street estimate of $0.73. Revenue was $1.88 billion, above the Street estimate of $1.81 billion.</p>
<p>The EPS miss was driven by an incremental $50 million from logistics costs (approximately $0.25 impact to EPS) in addition to FX headwinds ($106 million vs. its modeled $90 million) and COVID-related challenges in APAC, particularly China. Significant improvements in transit times along with strong demand led to capacity challenges and ultimately higher costs as the company worked to mitigate the impact to customers. This involved adding more labor and capacity to fulfill orders.</p>
<p>The company provided its Q4 outlook, expecting revenue to be in the range of $1.73-1.78 billion, worse than the Street estimate of $1.79 billion.</p>

NYSE:SKX