Shares of footwear companies are trading slightly higher Friday after peers Skechers U.S.A, Inc. (NYSE:SKX) and Deckers Outdoor Corp. (NYSE:DECK) reported second-quarter results after Thursday's closing bell.
The Details:
Skechers reported record second-quarter sales of $2.16 billion resulting from increases in both its direct-to-consumer and wholesale segments. The company also raised its sales and earnings guidance to above Street estimates.
Deckers, parent company of the UGG and HOKA brands, reported better-than-expected results on the top and bottom line with total revenue increasing 22% year-over-year and earnings up 87%.
On Holding AG (NYSE:ONON) shares are climbing with other footwear stocks including Birkenstock Holding Plc (NYSE:BIRK) and Crocs, Inc. (NASDAQ:CROX) Friday as investors digest strong growth and forward guidance from Deckers and Skechers.
Crocs is the next to report earnings on Aug. 1 before the opening bell, followed by On Holding reporting in mid-August, according to data from Benzinga Pro.
SKX, DECK, ONON, BIRK, CROX Price Action: According to Benzinga Pro, Skechers shares are up 2.78% at $65.48 , Deckers shares are up 7.99% at $908.75, On Holdings shares are up 4.78% at $40.03, Birkenstock shares are up 2.11% at $56.69 and Crocs shares are up 4% at $130.14 at the time of publication Friday.
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