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Skechers boost from international profits

Skechers’ worldwide retail business grew by 18.6 per cent year-on-year.

California-based Sports footwear producer Skechers has logged sales of almost $1.1 billion for the third quarter of this year – an increase of 16.2 per cent over the same period in 2016. The company’s net earnings in the third quarter were $92.3 million – more than 41 per cent higher than in the same period of 2016.

Skechers’ international wholesale business saw a year-on-year increase in revenue of 25.7 per cent. There was also a growth in the company-owned worldwide retail business of 18.6 per cent.

“The strong international growth, including the continued strength in China, the resurgence of the United Kingdom and growth across all of Europe, combined with our strong international retail business, resulted in international wholesale and retail representing 53 per cent of our total sales in the third quarter,” said chief operating officer and chief financial officer, David Weinberg.

Chief executive Robert Greenberg added: “Now, more so than ever before, we are approaching our business from a global perspective, developing product that will resonate with consumers in the Americas, across Europe, throughout Asia, and the rest of the world.”

Publishing Data

This article was originally published on page 4 of the December 2017 issue of SATRA Bulletin.

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