Skechers announce record Q2 2021 sales of US$1.66 billion

United States
Published:  30 July, 2021
Credit: Skechers

The U.S. footwear brand announced financial results for the second quarter ended June 30, 2021.

Skechers reported record quarterly sales of US$1.66 billion, an increase of 127.3% year-over-year, and 31.7% over the second quarter of 2019. Net earnings were US$137.4 million.

Domestic wholesale sales grew 205.7% and direct-to-consumer sales grew 137.8%. International wholesale increases were driven by 150.2% growth in our European subsidiaries, led by the United Kingdom and Germany, 50.9% growth in China, and 122.3% growth in distributor sales. 

Second quarter sales increased 127.3% because of a 147.3% increase in domestic sales and a 113.7% increase in international sales. Domestic and international growth was driven by increases in both wholesale and direct-to-consumer, as Covid-19 restrictions eased over the prior year. On a constant currency basis, the company’s total sales increased 117.5%.

As consumers’ lifestyles started returning to normality in many markets, demand increased for the brand’s comfort technology products, including in North America, across Europe, and in China, which achieved double-digit gains over both 2020 and 2019. 

“Skechers second quarter financial results exceeded”, stated David Weinberg, Chief Operating Officer of Skechers.

Outlook
For the fiscal year 2021, the company believes it will achieve sales between US$6.15 billion and US$6.25 billion. Further, the company believes that for the third quarter of 2021, it will achieve sales between US$1.60 billion and US$1.65 billion.