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Skechers Reports Record Q4 and Annual Sales

Skechers ended 2021 year with a bang. Q4 highlights include sales of $1.65 billion, a year-over-year increase of 24.4 percent; DTC sales up 30.3 percent; and international wholesale sales grew 30.1 percent.

“Skechers’ focus on delivering signature comfort technology in our products resulted in record 2021 sales,” states CEO Robert Greenberg. “We’re extremely proud of the entire Skechers team and of our partners who worked through the many obstacles last year; unwavering in their dedication to the Skechers brand. We believe our accomplishments in 2021, including several comfort-focused new product launches and the further expansion of our global footprint, position Skechers for continued growth toward our goal of $10 billion in sales.” Greenberg adds, “In 2022, we’ll be introducing more innovative and comfort technology product, developing multi-platform marketing campaigns with our growing roster of ambassadors including recently announced Amanda Kloots, and rolling out more Skechers e-commerce sites around the world. We are finalizing plans to enter the metaverse, creating an entirely new opportunity for the Skechers brand. With our creativity, product, operational support and global reach, we expect 2022 to be another record year.”

“2021 was an outstanding year, with four quarterly sales records, including fourth quarter sales of $1.65 billion, and a new full year sales milestone of $6.29 billion,” says David Weinberg, COO. “Fourth quarter growth was driven by increases of 30 percent in both our International Wholesale and Direct-to-Consumer businesses, and 5 percent in Domestic Wholesale. The International Wholesale increase was primarily driven by triple-digit growth in our distributor business, high single-digit growth in China, and double-digit growth in the United Kingdom, India, Spain and many other markets. The improvement in Domestic Wholesale was especially notable in the fourth quarter as we worked to alleviate supply chain disruptions. We attribute our global growth to the broad-based demand as consumers look to Skechers for its comfort, innovation, style and quality at a reasonable price. As the demand for Skechers remains strong, our focus continues to be on the health and safety of our team, managing both supply chain disruptions and elevated freight costs where possible, all while profitably driving growth in 2022.”

Skechers CEO Robert Greenberg is all smiles after a record Q4.

As for 2021 as a whole, sales increased 36.7 percent, reflecting a 33.4 percent increase in domestic sales and a 39 percent spike in international sales with the largest contribution derived from International wholesale growth. On a constant currency basis, the company’s total sales increased 33.7 percent. Improvements in Domestic Wholesale were the result of higher unit sales volume. International Wholesale recorded growth in China of 35 percent and Europe of 23.6 percent. DTC had higher units sold and higher average selling prices. DTC comparable same store sales increased 38 percent, driven by an increase of 39.5 percent domestically and 34.1 percent internationally.

The October/November 2022 Issue

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