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What's Going On With Footwear Stocks Today?
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What's Going On With Footwear Stocks Today?
Jul 26, 2024 10:49 AM

Shares of footwear companies are trading slightly higher Friday after peers Skechers U.S.A, Inc. and Deckers Outdoor Corp. ( DECK ) reported second-quarter results after Thursday's closing bell. 

The Details:

Skechers reported record second-quarter sales of $2.16 billion resulting from increases in both its direct-to-consumer and wholesale segments. The company also raised its sales and earnings guidance to above Street estimates. 

Deckers, parent company of the UGG and HOKA brands, reported better-than-expected results on the top and bottom line with total revenue increasing 22% year-over-year and earnings up 87%. 

Read Next: DexCom Stock Drops After Mixed Q2 Results, Weak Forward Guidance

On Holding AG ( ONON ) shares are climbing with other footwear stocks including Birkenstock Holding Plc ( BIRK ) and Crocs, Inc. ( CROX ) Friday as investors digest strong growth and forward guidance from Deckers and Skechers. 

Crocs ( CROX ) is the next to report earnings on Aug. 1 before the opening bell, followed by On Holding ( ONON ) reporting in mid-August, according to data from Benzinga Pro. 

SKX, DECK, ONON, BIRK, CROX Price Action: According to Benzinga Pro, Skechers shares are up 2.78% at $65.48 , Deckers shares are up 7.99% at $908.75, On Holdings shares are up 4.78% at $40.03, Birkenstock ( BIRK ) shares are up 2.11% at $56.69 and Crocs ( CROX ) shares are up 4% at $130.14 at the time of publication Friday.

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Image: Shutterstock

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