Shares of Skechers USA Inc. (NYSE: SKX) surged 8.47% in after-hours trading on Wednesday after the footwear company reported record quarterly sales and raised its full-year guidance, reflecting robust consumer demand for its products.

For the third quarter ended September 30, 2024, Skechers posted record sales of $2.35 billion, up 15.9% from the prior-year period. The result handily beat analysts' expectations of $2.31 billion. Earnings per share rose 35.5% to $1.26, exceeding the consensus estimate of $1.15.

The company's wholesale sales grew 20.6%, driven by double-digit increases across its key markets of the Americas, Europe, Middle East, and Africa (EMEA), and Asia Pacific. Direct-to-consumer sales also advanced 9.6%, led by strong growth in EMEA and Asia Pacific.

"Strong consumer demand for Skechers across all distribution channels resulted in a new quarterly sales record," said Chief Operating Officer David Weinberg. He highlighted the company's efforts to invest in operational capabilities and improve the customer experience to meet the rising global demand.

Looking ahead, Skechers expects fourth-quarter sales between $2.165 billion and $2.215 billion, with earnings per share in the range of $0.70 to $0.75. For the full year 2024, the company now forecasts sales between $8.925 billion and $8.975 billion, with earnings per share of $4.20 to $4.25, up from its previous guidance.

"As more consumers view our comfort features as essential, the importance of newness and advancing our designs with our signature technologies across core and new product offerings remains vital," said Chief Executive Officer Robert Greenberg. He expressed confidence in the company's ability to capitalize on significant growth opportunities in its technical performance business.