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Actionable news in SKX: SKECHERS U.S.A. Inc,

Skechers Slides After Mixed Q2 Earnings, Forecast

Skechers (SKX) is lower Friday, on the heels of its mixed second-quarter earnings report.

The company said that it earned 38 cents a share on revenue that rose 16.9% year over year to $1.03 billion. Analysts were expecting earnings of 44 cents a share on revenue of $966.6 million.

For the third quarter, Skechers expects to earn between 42 cents and 47 cents a share, below the 56-cent consensus estimate. It sees revenues of $1.05 billion to $1.075 billion, compared to the $1.059 billion analysts are forecasting.

Cowen & Co.'s John Kernan kept an Outperform rating and $35 price target on the stock, writing that the company is outperforming competition in North America, product cycle is strong, and margins should inflect very soon:

SKX reported Q217 sales growth of +17% - well above our estimate of...