Skechers posts record sales in first quarter amid growing demand

Skechers shoes close-up
Skechers has posted record quarterly sales in the first quarter. (Source: Skechers/Facebook)

Skechers has posted record quarterly sales in the first quarter ended March 31, which management attributed to strong demand across all channels.

The company’s sales soared 7.1 per cent year-on-year to $2.41 billion (up 9 per cent on a constant currency basis), with domestic sales up 6.9 per cent and international sales up 7.2 per cent.

Wholesale sales grew 7.8 per cent to $110.5 million and direct-to-consumer sales rose 6 per cent to $49.5 million.

By region, sales increased 14 per cent in EMEA and 8 per cent in the Americas. Apac sales decreased 3 per cent but rose 12 per cent when excluding China.

On the bottom line, net earnings attributable to Skechers were $202.4 million, compared with $206.6 million in the year-ago period.

“Our record first quarter sales are a testament to the resilience of our brand as we continue to see broad-based global demand,” commented CEO Robert Greenberg. 

“We believe our distinct value proposition will be even more vital as consumers navigate the current economic volatility.”

The company did not provide a full-year outlook and withdrew its previous guidance due to macroeconomic uncertainty stemming from global trade policies.

During the year ended December 31, Skechers’ sales rose 12.1 per cent to $9.04 billion.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.