Skechers slides on Q4 sales miss, as retailers ‘conservatively manage’ inventory levels

Shares of Skechers USA Inc. fell 10.8% in extended trading Thursday after the comfort-footwear maker reported weaker-than-expected fourth-quarter sales amid a decline in its wholesale business.

The company reported revenue of $1.96 billion, an increase of 4.4% on the prior year’s quarter. Net income was $87.2 million, or 56 cents a share, compared with $75.5 million, or 48 cents a share, in the prior year’s quarter. On an adjusted basis, Skechers SKX earned 48 cents a share. Analysts surveyed by FactSet expected adjusted…