Shares of Skechers USA Inc (NYSE:SKX) ended Tuesday session in green amid volatile trading. The shares closed up +0.10 points or 0.43% at $23.23 with 2.42 million shares getting traded. Post opening the session at $23.30, the shares hit an intraday low of $23.09 and an intraday high of $23.33 and the price vacillated in this range throughout the day. The company has a market cap of $3.71 billion and the numbers of outstanding shares have been calculated to be 133.32 million shares.
Skechers USA Inc (SKX) on July 22, 2016 announced financial results for the second quarter ended June 30, 2016.
Second quarter 2016 net sales were $877.8 million compared to $800.5 million for the second quarter of 2015. Gross profit for the second quarter of 2016 was $416.3 million, or 47.4 percent of net sales, compared to $374.6 million, or 46.8 percent of net sales, for the second quarter of last year. Earnings from operations for the second quarter of 2016 were $100.4 million, or 11.4 percent of net sales, compared to earnings from operations of $112.3 million, or 14.0 percent of net sales for the second quarter of 2015.
“Skechers achieved new record second quarter net sales of $877.8 million, which led to a $1.86 billion net sales record for the first six months of 2016,” began David Weinberg, chief operating officer and chief financial officer. “The growth in the quarter was primarily attributable to a 34.6 percent increase in our international subsidiary and joint venture businesses and a 40.5 percent increase in our international Company-owned Skechers retail stores. This resulted in our international wholesale and retail business comprising 41.9 percent of total sales for the second quarter and 45.0 percent for the first six months of 2016. Company-owned Skechers retail sales increased 15.4 percent for the quarter. As expected, in our domestic wholesale business, shipments were pulled forward from April into March, resulting in significantly reduced shipments in April and a sales decrease of 5.4 percent in the second quarter, but an increase of 3.2 percent for the first six-months. Our strong gross margins of 47.4 percent for the quarter were primarily the result of higher sales increases in our international subsidiary and joint venture businesses as well as our Company-owned retail stores.”
Shares of Hanesbrands Inc. (NYSE:HBI) ended Tuesday session in red amid volatile trading. The shares closed down -0.39 points or -1.49% at $25.71 with 3.80 million shares getting traded. Post opening the session at $26.25, the shares hit an intraday low of $25.70 and an intraday high of $26.27 and the price vacillated in this range throughout the day. The company has a market cap of $9.71 billion and the numbers of outstanding shares have been calculated to be 377.80 million shares.
Hanesbrands Inc. (HBI) on September 2, 2016 announced the company is donating more than 23,000 items of clothing to residents affected by devastating flooding in Louisiana.
HanesBrands is partnering with Fashion Delivers, a New York based charity, to distribute three trailer loads of first-quality product, including T-shirts, socks, bras, underwear and other apparel, to flood victims.
“We have all seen the devastation the Louisiana floods have caused on so many levels – especially to the lives of the thousands of people directly affected, “HanesBrands is happy to provide this assistance and hope that it can provide some real help in this time of need,” said Chris Fox, HanesBrands vice president for corporate social responsibility.