Skechers Set Q1 Sales Record at $1.25 Billion

Share This:

Skechers USA licked off 2018 with a bang! The Manhattan Beach, CA-based company reported record sales of $1.25 billion—an increase of 16.5 percent. Earnings hit $148.8 million, a 19.6 percent increase. Domestic wholesale sales increased 8.5 percent while international sales spiked 17.9 percent. Company-owned global retail sales rose 26.4 percent, with a comp store sales up a noteworthy 9.5 percent worldwide.

“What a way to start 2018,” states Robert Greenberg, CEO, Skechers. “We truly felt 2017 was a banner year, but yet again we surpassed our expectations and hit a new quarterly sales record. With our men’s, women’s and kids’ product growing year-over-year and resonating with consumers globally, we believe our moment is now.”

Greenberg cited continued success of its men’s Skechers Sport, women’s sandals and men’s and women’s On the Go collections. In addition, with the global focus on the trend-right Skechers D’lites, the brand is seeing the line turn into a must-have item. “From a marketing perspective, we have a new commercial with chart-topping singer Camila Cabello in our D’lites, legendary football great Tony Romo in our men’s Relaxed Fit slip-on shoes and more than a dozen other commercials, including many featuring our kids’ footwear,” Greenberg says. “Our targeted marketing on air, in print and digitally continues to raise awareness of our vast product offering and drive sales around the world. We’re looking forward to the remainder of our spring deliveries, and sharing our results as we move through the rest of 2018.”

David Weinberg, COO, reports that Skechers’ North American Distribution Center experienced a record month for shipment volume. In addition, the European Distribution Center experienced a record quarter for shipment volume. “Our international subsidiary and joint venture businesses are driving our growth with a combined quarterly increase of 25.7 percent, and there are now 2,197 company-owned or third-party Skechers stores outside the United States,” Weinberg says. “Now at 54 percent of our total business, we continue to see international as our greatest growth opportunity.”

Leave a Comment: