Skechers grows sales by 19.2% in third quarter

Worldiwde
Published:  29 October, 2021
Credit: Skechers

The footwear brand has announced its Q3 results for 2021, with sales of US$1.55 billion, a year-on-year increase of 19.2% and a record for the company.

Direct-to-consumer sales grew 44.1% in the period, while wholesale sales grew by 10.5%, driven by China.

Operating expenses increased by US$334.6 million (22.7%), while selling expenses increased by $117.3 million (53.3%), primarily due to higher global advertising costs.

Skechers expects to achieve between US$6.15 billion and US$6.2 billion in sales for the full 2021 financial year, with at least US$1.51 billion sales in the fourth quarter.