Skechers Upgrades Final Quarter Outlook

Skechers USA Inc. on Monday said it now expects its fourth-quarter sales to be at the high end of its previously issued guidance of $210 million to $220 million, on par with analysts' estimates of $217.7 million.

The Manhattan Beach-based shoe manufacturer also anticipates that 2005 revenues will exceed $1 billion, slightly above analysts' expectations.

The company will report earnings during the week of Feb. 20.

In late October, shares of Skechers plunged after the company issued a fourth-quarter revenue outlook below Wall Street projections.

After watching its stock fall from $40 per share to around $5 from 2001 to 2003, Skechers recently updated the look of its shoes to make them more appealing to its core customers of teenagers and young adults. The company also signed deals to roll out a number of urban brands to stores nationwide in time for the holiday season.

Skechers ended the day up 6.3 percent to $17.14, just prior to the official company announcement.

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