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Skullcandy in Hot Demand as Turnaround Efforts Drum Up Earnings

August 21, 2023
in Trade Tube
Reading Time: 1 min read
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Skullcandy was in hot demand Friday after trumping analyst estimates in its fourth quarter. The headphones maker reported profits of 13 cents a share, compared to expectations for 9 cents a share. Revenue of more than $72 million also came in above forecasts. Recently the company has been rebranding as a product of prestige, cutting sales to discount retailers, policing online sales prices and restricting inventory to prevent oversupply. For the current quarter, sales are expected to climb 5-7%.

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