BUZZ-Skechers rises on upbeat outlook, results

Reuters04-26

** Shares of footwear maker Skechers U.S.A rise 10.1% to $64.78 premarket

** For FY24, SKX anticipates sales between $8.73 bln and $8.88 bln; compared with market view of $8.83 bln - LSEG data

** Expects annual EPS in the range of $3.95 to $4.10, versus analysts' estimates of $4.01

** Co sees Q2 sales between $2.18 bln and $2.23 bln; compared with Wall Street view of $2.21 bln

** Co forecasts Q2 EPS between $0.85 and $0.90; analysts on average expect $1.02

** Q1 sales of $2.25 bln beat estimates of $2.20 bln

** Direct-to-consumer sales grew 17.3% in Q1 compared with previous year

** 12 of 15 brokerages rate the stock "buy" or higher, three "hold"; their median PT is $72

** Up to Thursday's close, stock had fallen 5.7% YTD

(Reporting by Khushi Singh in Bengaluru)

((Khushi.Singh@thomsonreuters.com;))

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