Skechers posts record sales in first quarter

Worldwide
Published:  23 April, 2018

U.S. based lifestyle footwear brand, Skechers, has posted record sales of US$1.25 billion (+16.5%) in the first quarter ending March 31, 2018.

Earnings from operations stood at US$148.8 million, a +19.6% increase compared with the same quarter in 2017. Skechers’ net earnings were US$117.7 million (+25.2%), and diluted earnings per share were US$0.75. International wholesale sales increased +17.9%, while domestic wholesale sales increased +8.5%. Company-owned global retail sales are reported to have increased 26.4%, with a comparable same store sales increase of +9.5% worldwide.

“We truly felt 2017 was a banner year, but yet again we surpassed our expectations and hit a new quarterly sales record. With our men’s, women’s and kids’ product growing year-on-year and resonating with consumers globally, we believe our moment is now. We are experiencing the continued success of our men’s Skechers Sport, women’s sandals and men’s and women’s On the Go collections”, said Robert Greenberg, CEO, Skechers.

For the second quarter of 2018, Skechers expects to achieve sales in the range of US$1.120- US$1.145 billion, and diluted earnings per share of US$0.38 to US$0.43.

Skechers' Energy Lights with leather upper