Skechers Posts Record Year, Topping $4 billion
Skechers USA, Inc., posted record sales of $4.16 billion in 2017, topped off by a record fourth quarter ($970.6 million, an increase of 27 percent).
“2017 was a monumental year for Skechers as we achieved sales of more than $4 billion for the first time in our 25-year history,” states Robert Greenberg, CEO. “This growth is due to our continued focus on efficiencies and infrastructure as well as innovation, comfort, and relevancy within our product design. In the United States, we remained the No. 1 walking, work, casual lifestyle, and casual dress footwear brand, and the No. 2 casual athletic footwear brand. Our team of legendary athletes and international celebrities, including the chart-topping singer Camila Cabello, drove worldwide appeal in marketing campaigns that represent our diverse product offering—from our heritage retro styling to the innovation and comfort that have become hallmarks of Skechers footwear. Furthermore, we grew our Skechers store base to 2,570 locations at year-end and saw impressive growth across the globe—including record sales on Single’s Day in China. As we look ahead, with fresh styles shipping for spring, we believe we will remain a leader in the lifestyle footwear channel inthe United States, selectively expand our retail footprint, and continue our global growth as we see our international business becoming an increasingly larger piece of our total business.”
Some notable numbers include: Earnings of $55.7 million, an increase of 96.9 percent; domestic wholesale sales up 11.6 percent; company-owned global retail sales increased 25.8 percent, with a comparable same store sales up of 12 percent globally; international wholesale sales up 40.2 percent; total international wholesale and retail sales combined represented 52.6 percent of total sale.
“With three months of strong sales, a robust holiday selling season that included increased demand for our innovative lighted children’s footwear and comfortable adult styles, and double-digit growth in each of our three distribution channels, we achieved a new fourth quarter sales record of $970.6 million,” says David Weinberg, COO. “The four record sales quarters in 2017 resulted in a new annual sales record of $4.16 billion, an increase of over $600 million from the previous year’s sales. This growth is a testament to the worldwide strength and relevance of our product, marketing and brand.”