Shares of footwear companies are trading slightly higher Friday after peers Skechers U.S.A, Inc. SKX and Deckers Outdoor Corp. 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%.
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On Holding AG ONON shares are climbing with other footwear stocks including Birkenstock Holding Plc BIRK and Crocs, Inc. 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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