10 Best Fitness and Gym Stocks to Buy Now

4. Skechers USA, Inc. (NYSE:SKX)

Number of Hedge Fund Holders: 42

Skechers USA, Inc. (NYSE:SKX) develops, designs, and markets a range of footwear, apparel, and accessories for men, women, and kids. Its athletic offerings make it a popular brand among fitness enthusiasts. The company made a new quarterly sales record in fiscal Q3 2024 by attaining $2.35 billion in sales. This translates to an increase of 16%, or $323 million. It saw growth in both of its segments, with Wholesale growing by 21% and Direct-to-Consumer by 9.6%. It had a balanced growth of 16% internationally and 15% domestically. This growth was attributed to the increasing acceptance of the company’s diverse product offerings by consumers.

Skechers USA (NYSE:SKX) offers style, quality, comfort, and innovation at a reasonable price, which gives it a competitive market edge. It focuses on creating purchase intent and increasing awareness of its lifestyle and performance technologies through feature-focused marketing campaigns led by its distinguished team of athletes and ambassadors. For instance, Snoop Dogg and Philadelphia 76ers basketball star Joel Embiid attained golden moments at the Paris Games wearing Skechers earlier in fiscal Q3 2024.

The company is leveraging such initiatives to boost purchase intent and ensure its offerings are available globally, building efficiencies within its business for profitable growth. Skechers USA, Inc. (NYSE:SKX) ranks fourth on our list of the 10 best fitness and gym stocks to buy now.