UPDATE 1-Skechers Q2 earnings trail Wall Street

(Recasts; adds details, share movement)

July 23 (Reuters) - Shoe maker Skechers USA Inc (SKX.N: Quote, Profile, Research) posted lower-than-expected quarterly earnings, as U.S. sales were hurt by a weak economy, and forecast third-quarter results below market estimates, sending its shares down 12 percent.

Skechers, like many other U.S. shoe makers, has been struggling to combat sluggish retail sales in its domestic markets as consumers face soaring fuel prices and a housing market slump.

The company posted net income of $14.6 million, or 31 cents a share, for the second quarter ended June 30, compared with $14.9 million, or 32 cents a share, a year earlier.

Revenue at the company, whose rivals include Deckers Outdoor (DECK.O: Quote, Profile, Research) and Timberland (TBL.N: Quote, Profile, Research), nudged up to $354.6 million from $352.2 million.

Analysts on average expected earnings of 34 cents a share, before items, on revenue of $360.3 million, according to Reuters Estimates.

For the third quarter, the Manhattan Beach, California-based company sees earnings of 57 cents to 65 cents a share on revenue of $425 million to $440 million.

Analysts expect earnings of 66 cents a share, before items, on revenue of $447.24 million.

Shares of Skechers fell to $20.83 in trading after the bell. They had closed up almost 2 percent at $23.74 Wednesday on the New York Stock Exchange. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Pratish Narayanan)