Skechers Posts Loss in Q1 on Sales Decline

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Skechers USA, Inc. reported first quarter sales were $351.3 million compared to $476.2 million in the first quarter of 2011. The loss from operations for the first quarter of 2012 was $4.4 million compared to earnings from operations of $15.3 million in the first quarter of 2011.
The net loss for the first quarter of 2012 was $3.7 million versus net earnings of $11.8 million in the first quarter of 2011. Diluted loss per share was 7 cents a share, down from earnings of 24 cents the prior year. Full Text

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