“For the first quarter, we delivered record quarterly sales of 2.41 billion US dollars, reflecting strong global demand across both our wholesale and direct-to-consumer segments with international sales representing 65% of our business. Sales by region increased 14% in EMEA and 8% in the Americas. In APAC, sales decreased 3%; however, when excluding China, sales increased 12%. We believe Skechers has significant growth opportunities in China, and we will continue to invest in product, marketing and infrastructure to expand and support our presence”, commented David Weinberg, Chief Operating Officer of Skechers. 

First Quarter Results

In the first quarter of 2025, the company’s sales reached 2.41 billion US dollars, an increase of 7.1% on a comparable basis over the same period last year, as a result of a 7.2% increase internationally and a 6.9% increase domestically.

In particular, Skechers reported an 8.3% growth in the Americas region to 1.10 billion US dollars and a 14.4% growth in the Europe, Middle East & Africa region to 718.2 million US dollars, as compared to the first quarter of 2024. However, sales in Asia Pacific decreased by 2.6% to 589 million US dollars, driven by a 15.9% decline in China.

The US company’s gross margin decreased by 50 basis points in the first quarter to 52.2%, on a comparable basis to the same period of the prior year, due to lower average selling prices.

In the first quarter of the year, Skechers’ earnings from operations decreased by 33.7 million US dollars year-on-year to 265.1 million US dollars.

Net earnings were 202.4 million US dollars and diluted earnings per share were 1.34 US dollars, as compared to to net earnings of 206.6 million US dollars and diluted earnings per share of 1.33 US dollars in the same quarter a year ago.

Full Year Outlook

“Due to macroeconomic uncertainty stemming from global trade policies, the Company is not providing financial guidance at this time and is withdrawing the annual 2025 guidance provided in our earnings release on February 6, 2025”, said Skechers.