World Footwear

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Skechers announces record net sales

Aug 5, 2016 United States
Skechers announces record net sales
In the second quarter of the current year, the US-based footwear company net sales reached 877.8 million US dollars
“Skechers achieved new record second quarter net sales of 877.8 million US dollars, which led to a 1.86 billion US dollars’ net sales record for the first six months of 2016”, stated David Weinberg, Chief Operating Officer and Chief Financial Officer, adding: “The growth in the quarter was primarily attributable to a 34.6% increase in our international subsidiary and joint venture businesses and a 40.5% increase in our international company-owned Skechers retail stores.”

This resulted in our international wholesale and retail business comprising 41.9% of total sales for the second quarter and 45.0% for the first six months of 2016. Company-owned Skechers retail sales increased by 15.4% for the quarter. As expected for the domestic wholesale business, shipments were pulled forward from April into March, resulting in significantly reduced shipments in April and a sales decrease of 5.4% in the second quarter, but an increase of 3.2% for the first six-months.”

Skechers’ second quarter net sales totaled 877.8 million US dollars, which compares to 800.5 million US dollars in similar period in 2015. Net earnings in the period reached 74.1 million US dollars compared to net earnings of 79.8 million US dollars in the second quarter of 2015.

For the six months ended on the 30th of June, net sales totalled 1.86 billion US dollars compared to net sales of 1.57 billion US dollars in the first six months of 2015. Net earnings in the first semester of 2016 totaled 171.7 million US dollars compared to net earnings of 135.9 million US dollars in the same period last year.

Robert Greenberg, Skechers Chief Executive Officer, commented: “In an environment that included economic and political uncertainty in both the United States and abroad, as well as challenges in the domestic retail space resulting in a promotional sales environment, Skechers was a brand that customers and consumers could count on for delivering comfort, style and quality, as well as supporting it with marketing”. Mr. Weinberg added: “Based on our June shipments as well as the strong start to July, we believe this positive momentum will continue into the third quarter.”

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