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Skechers USA Q3 net earnings decreased 2.2 percent

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Staff Writer |
Skechers   Net earnings per share were $0.42

Skechers USA announced, for the fourth quarter of 2016, the company expects net sales in the range of $710 million and $735 million.

The outlook assumes single-digit increases and comps in its international wholesale business and total retail business, respectively, as well as a single-digit decrease in its domestic wholesale business.

Third-quarter net earnings decreased 2.2 percent to $65.1 million, while net earnings per share were $0.42, compared with $0.43 in the prior year.

The company said its earnings per share for the third quarter of 2016 were negatively impacted by foreign currency translation and exchange losses of approximately $8.1 million, or $0.04 per share.

Third-quarter net sales rose 10.1 percent to $942.4 million compared to third quarter 2015.

The company said this increase was the result of an 18.3 percent increase in the international wholesale business and a 16.0 percent increase in its company-owned global retail business with total comp store sales increases of 3.2 percent.

Domestic wholesale business decreased 3.4 percent, during the quarter.

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