Skech Shares Plunged 35%, Third Quarter Profits Lower Than Expected

International sales fell sharply in the third quarter of September 30th as a result of the strong dollar appreciation. On Thursday, the company's share price plummeted by 35%, or below 30 US dollars, Skechers.

Including wholesale and retail sales, international sales account for 43% of the company's total revenue, compared with the same period last year, the average value of the dollar increased by 17%.

It rose to $66 million 600 thousand or 43 cents per share from $51 million 100 thousand or 33 cents a year last year.

A company spokesman said Nike

The stock price has dropped by 15 cents.

But Skechers has been aggressive this year, and its share price has gone all the way. This year's share price has risen by nearly 150%.

According to Reuters,

The third quarter profit increased by 27% to $850 million, but was lower than expected growth of $870 million.

Skechers also announced that the same store sales growth was less than expected. Data showed that same store sales increased 10.4% in the same quarter, lower than the 10.6% growth expected by analysts.

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At its twenty-second annual investor conference, WAL-MART announced its future strategic plan and development plan and increased investment in talent and technology.

Dong Minglun, President and chief executive officer of WAL-MART global, said that WAL-MART is one of the two most important markets in the world, one is the United States and the other is China Doug McMillon.

In the future, WAL-MART will continue to open more physical stores in China, increase e-commerce development, take into account the coordinated development between entities and e-commerce providers, and provide customers with full channel shopping services.

"Since WAL-MART entered the Chinese market in 1996, there are 420 stores in China, and recently it has wholly owned the 1 shop of e-commerce company. I think WAL-MART is in the moment of full development opportunities in the Chinese market.

We communicated with colleagues in Shanghai and 1 stores two days ago to explore how to effectively integrate WAL-MART stores and Sam's member stores' resources together to further promote the further development of e-commerce business.

Last week, we held a WAL-MART investor conference in New York, announcing that the two important markets of WAL-MART are China and the United States.

Dong Minglun said.

WAL-MART announced WAL-MART's several major investment plans.

In the next two years, we will invest $2 billion 700 million in talent, which is an additional investment on the basis of regular investment.

In addition to investing in talent, WAL-MART will also invest in e-commerce development around the world.

Dong Minglun said: "the main investment focus we are focusing on now is talent and e-commerce.

We must make timely adjustments and changes so as to ensure that we can continue to succeed in the long term, such as the next 50 years.

We need to use our supply chain resources in different ways. We need to strengthen our capability in digital business, and we need to do data analysis in a new way.

Dong Minglun further revealed that customers are generally concerned about the value of goods. In China, customers are especially concerned about commodity quality, food safety and whether they are genuine products.

Commodity prices are very important, but the price advantage is not enough. We need high quality goods and good services.