Record international sales for Skechers

Worldwide
Published:  23 October, 2019

The U.S. headquartered sports and casual footwear brand has posted record quarterly sales of US$1.354 billion, up 15.1% year-on-year.

Skechers’ international sales increased 21.9%, or 25.7% on a constant currency basis, in the third quarter. Comparable same store sales increased 7.7% in the period, including a 6.8% increase in the domestic market and +9.9% internationally. Overall, international sales represented a record high of 58.8% of the total. Diluted earnings per share were US$0.67, up 15.5%, or US$0.71 per diluted share on a constant currency basis (+22.4%).

“Skechers is firing on all cylinders. Our global marketing efforts are creating awareness and generating demand. Our product is innovative, relevant and comfortable”, said Robert Greenberg, CEO, Skecher. “We supported our key initiatives with a 360-degree approach to marketing by adding a comprehensive digital strategy to our traditional television campaigns. Our product offering is vast and reaches every demographic, and at its core, comfort is what consumers have come to know and expect from Skechers”, he added.

For the first nine months of 2019, sales grew 9.2%, or 11.9% on a constant currency basis. By segments, Skechers’ international wholesale business increased 15.9%, the company-owned direct-to-consumer business increased 11.8%, while its domestic wholesale business decreased 4%. The Company’s international business grew 16.8% in the period, year-on-year, and its domestic business was up 0.4%.

For the fourth quarter of 2019, Skechers expects sales to be in the range of US$1.225 billion to US$1.250 billion, and diluted earnings per share of US$0.35 to US$0.40.

Skechers Relven-Hemson