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Shares of Skechers soar after revenue beat

Pedestrians pass in front of a Skechers store in New York.
Scott Mlyn | CNBC
Pedestrians pass in front of a Skechers store in New York.

Skechers shares jumped on Friday after the company reported a fourth-quarter revenue beat and a stronger-than-expected sales guidance for the current quarter.

The stock ended the day 19 percent higher.

The shoe retailer reported fourth-quarter revenue of $764.3 million on Thursday, while a consensus of analysts polled by Thomson Reuters expected $723.7 million. The California-based company also saw its comparable same-stores sales rise 3.6 percent. Analysts expected comparable same-store sales to remain flat, according to FactSet.

Earnings disappointed at 4 cents per share for the fourth quarter, below estimates of 9 cents per share.

"The strong quarterly growth was primarily the result of a 17.1 percent increase in our international wholesale business, led by China with an increase of 48.5 percent," David Weinberg, COO and CFO of Skechers, said in a press release on Thursday.

The company also released its guidance for the 2017 first quarter, expecting net sales to be between $1.05 and $1.08 billion. Analysts had expected sales of $1.04 billion, according to Thomson Reuters.

However, Skechers announced a weaker-than-expected bottom-line for the coming first quarter, with earnings expected to range from 50 to 55 cents per share, lower than the estimated 63 cents per share.

Nevertheless, the company remained optimistic: "We expect that 2017, Skechers' 25th year of business, will be an even more remarkable in terms of product and sales," said CEO Robert Greenberg in a press release.

Skechers shares 5-day performance