Net sales jumped 16.9% to a record $1.03 billion. The business was strong across every segment. Domestic wholesale revenues rose 6.4% (versus flat in Q1). International wholesale revenues rose 18.6% (versus 16.8% in Q1). Company-owned store revenues rose 28% (versus 12.8% in Q1), driven by a 7.1% increase in comps (versus 2.9% in Q1). Sales growth really accelerated everywhere, but it was driven by higher spend. The selling expense rate rose in the quarter. So did the G&A rate. All in all, EPS actually fell year-over-year despite the 17% increase in sales.

Skechers Looks Good Into 2018 - Skechers USA Inc. (NYSE:SKX) | Seeking Alpha

The company's joint venture sales grew by 62.4%, led by double-digit gains in China. China sold 3.7 million pairs in the quarter, up 61% from last year. The number of retail stores where you can buy a pair of Skechers in China is now 2,235, up 44% from a year ago. Not only are the brick-and-mortar sales going great in China, e-commerce growth is on fire. Skechers e-commerce in China saw "triple-digit" growth which was the 7th quarter in a row of "high-double-digit" or "triple-digit" growth.

In order to support the projected $500 million of revenue in China this year, Skechers is building a distribution center in China and spent $20 million on land in the quarter to get this important node in the supply chain up and running. As I covered in this article, management wanted to break ground on this facility in 2017, and the company seems to be on track to accomplishing that goal.

3 Things Skechers Management Wants You to Know -- The Motley Fool

The shares are waaay oversold, in our opinion. RSI is a rarely seen 17. Here is the static chart:

Well, Skechers is indeed zooming up, +2.5% already, it was really terribly oversold..