Robert Greenberg, Skechers Chief Executive Officer, commented: “2016 marks Skechers’ 24th year in business and we couldn’t be more pleased to start 2016 with record quarterly revenues just shy of the billion dollar mark. By remaining focused on our product, building on our proven sellers … and introducing new designs … we continue to innovate and further develop our global brand”.

Mr. Greenberg added: “With a strong sales increase in the first quarter driven by substantial growth across Europe, Asia, the Middle East and closer to home in Canada and Chile, we see our international business as being a key driver of our continued growth as we deliver a broader assortment of our footwear for men, women and kids, expand into new accounts, and open more international Skechers retail stores. In the first quarter, together with our international partners, we opened 87 Skechers retail stores, bringing the total to 1 397; with the opening of 17 stores in the second quarter already, we now have 1 414 Skechers stores, of which 1 017 are in international markets. Given our significant momentum and current product in the pipeline, we believe our success will continue throughout the year.”

Net sales in the first quarter totaled 978.8 million US dollars, which compares to 768.0 million US dollars in similar period in the previous year, an increase of 27.4%.

To these results much contributed a 47.1% increase in Skechers’ international wholesale business and a shift forward of some domestic and international orders into the first quarter (Easter timing). In addition, domestic wholesale sales increased 12.1% and the company-owned retail sales grew by 23.2 %. For the first time the international business has grown to be the company’s largest segment, with international wholesale representing 42.9% of total sales.

Net earnings in the first quarter reached 97.6 million US dollars compared to net earnings of 56.1 million US dollars in similar period in the previous year.

As a response to increasing demand Skechers is investing in its infrastructure, including improved efficiencies in the European Distribution Center, which registered a record three million pairs shipped in a month during February.