Skechers (NYSE:SKX) beat the market in September as the stock gained 18% compared with a 2% increase in the S&P 500, according to S&P Global Market Intelligence. The boost added to significant investor gains, with shares up 60% so far in 2019.
The September rally came as investors in the consumer discretionary stock gained confidence in its near-term growth prospects. Management gave an investor presentation early in the month that highlighted Skechers' booming growth in key areas like e-commerce and international markets. Rival Nike (NYSE: NKE) added to the optimism by beating its fiscal fourth-quarter outlook while raising its profit forecast for the year.
Investors will learn whether Skechers is benefiting from the same positive industry trends when it announces its fiscal third-quarter results around Oct. 18. CEO Robert Greenberg and his team will likely update their outlook for the full year at that time, too, now that retailers have largely secured their footwear inventories in advance of the peak holiday season.