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.