Skechers continues positive momentum

By

Sarah Ahssen

Published
Jul 28, 2014

For its second quarter ending on June 30, 2014, Skechers recorded sales up 37% at 437 million euros (587 million dollars).

The US footwear company has also improved its gross margin from 45.5% to 45.9%. Before interest and taxes, the group’s results amounted to 37.5 million euros as compared with 9.22 million during the same period last year.

David Weinberg, CEO and CFO of Skechers, explained the results by emphasizing, "the strength of the new products combined with the power of marketing."

The company also announced double-digit growth of its wholesale business both in its domestic market and abroad. Some countries, although not specified, even experienced triple-digit growth.

During the first half, sales of Skechers rose by 28.8% to 818 million euros (1.1 billion dollars).  

Skechers expects to open 40 to 50 company-owned stores this year (in addition to the 18 already opened this quarter) and 60 to 65 stores through distributors and franchise partners. The company also plans to expand and automate its European distribution center.