Skechers Pulls Back Off Best Levels But Remains Sharply Higher

(RTTNews) - Shares of Skechers USA Inc. (SKX) have pulled back well off their best levels of the day continue to see substantial strength in afternoon trading on Friday. Skechers is currently up by 13.1 percent after reaching a three-month intraday high.

Skechers moved sharply higher early in the session after the footwear maker reported third quarter earnings that exceeded analyst estimates on record sales.

The company reported third quarter earnings of $0.58 per share compared to analyst estimates for $0.51 per share. Skechers also forecast better than expected fourth quarter results.