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Skechers stock jumps after earnings beat

Skechers USA Inc. shares rallied in the extended session Thursday after the shoe retailer reported second-quarter earnings that topped Wall Street views.

Skechers SKX, +1.19% said it earned $75 million, or 49 cents a share, in the quarter, compared with $45 million, or 29 cents a share, in the year-ago quarter. Sales rose 11% to $1.26 billion, the company said.

Analysts polled by FactSet had expected GAAP earnings of 33 cents a share on sales of $1.22 billion.

Comparable-store sales rose 4.9%, including a 4.2% increase in the U.S., the company said.

“We experienced growth in every region, with the biggest dollar increases coming from India, the Middle East and China, as well as in Mexico with the conversion of the business to a joint venture,” Skechers Chief Operating Officer David Weinberg said in a statement.

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