Shares of footwear maker Skechers tumbled more than 20 percent in aftermarket trading on Thursday after the company reported disappointing quarterly results and forecast a weak outlook for the third quarter.
The company reported earnings per share of 29 cents, well short of the 41 cents expected by analysts. Revenue of $1.12 billion was up 10.6 percent from the same period last year, in-line with expectations. Profit of $45 million was down 23.9 percent from last year.
Same store sales in the U.S. rose 2.2 percent.
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