(MENAFN- ProactiveInvestors)Skechers USA (NYSE:SKX) plummeted after currency headwinds and sluggish retail environment prompted the sports footwear maker to post third-quarter sales that fell below Wall Street estimates. Shares fell 34% to $30.61 at 11:04 a.m. in New York. Revenue rose 27% to $856.2 million in the September quarter the Manhattan Beach California-based company said in a statement on Thursday. That result however lagged behind the average analyst estimate of $876.5mln according to Capital IQ data. The average value of the dollar rose about 17% against a basket of currencies in the third quarter compared with a year earlier. International sales represented 43% of total revenue in the third quarter. Same-store sales increased 10.4% in the quarter less than the 10.6% rise analysts had forecast. The company reported profit advanced to $66.6mln or $0.43 per share in the third quarter from $51.1mln or $0.33 per share a year earlier.
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