Skechers Shares Fall After Earnings

Footwear maker Skechers USA Inc. said Wednesday it earned 43 cents a share in the fourth quarter, compared with 28 cents a share a year ago and in line with Wall Street expectations. The company reported sales of $570 million in the quarter, up from $451 million a year ago and compared with consensus of $542 million, according to FactSet. Fourth-quarter growth was thanks to "double-digit improvements" in domestic and international wholesale and company-owned retail businesses, Skechers said. Within the U.S., the average price of a Skechers shoe rose 7.4%, it said. Shares of Skechers fell 1.7% in after-hours trading after ending the day up 5%.