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Skechers Reports Record Q3 Sales

Skechers USA, Inc. financial results for the third quarter includes an array of highlights, according to a company release. It includes record sales of $1.176 billion, an increase of 7.5 percent (8.5 percent on a constant currency basis); international wholesale sales up 11.8 percent; and company-owned global retail sales up 10.6 percent.

“Both our domestic and international businesses grew, and we remained the leader in walking, work, casual lifestyle and sandals footwear in the United States,” states Robert Greenberg, CEO. “We experienced strong product successes across multiple divisions around the world, which was evident by our double-digit growth in both our international wholesale and worldwide company-owned retail businesses.”

Greenberg signaled out the success of Skechers D’Lites (the heritage chunky style— as performing particularly well at retail. “(D’Lites) has seen great success over the last two years in Asia, is now an in demand style across North America and Europe, and is poised for growth in South America, India and the Middle East,” he states. “Through Skechers D’Lites, we are reaching a younger, more fashion-savvy audience, and getting press—from Marie Claire and Elle to HypeBae and Highsnobiety—and social media influencers are embracing this signature look.”

Greenberg adds that Skechers’ core footwear categories for men, women, work and golf are also performing well. He credits the success to the right product mix combined with a balanced approach to marketing. The exec remains bullish on future growth for the company going forward. “As we continue to invest in our international infrastructure, we believe there is significant opportunity to grow our brand further through both wholesale, company-owned and third-party retail stores, which now stand at 2,802 locations worldwide,” he states. “We’re looking forward to fourth quarter growth across both our domestic and international channels and a new annual sales record.”

The March 2024 Issue

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