Skechers: sales up 30.7% in Q3
In its third quarter of 2014 ending on September 30, the American company Skechers recorded sales of 532.4 million euros (674.3 million dollars), up 30.7% as compared to the same period past year.
Its net profit jumped by 90% to 40.3 million euros (51.1 million dollars).
"With product and marketing initiatives that continue to resonate with our consumers worldwide, we achieved a 30.7 percent net sales increase—the highest quarterly revenues in the Company’s 22-year history. These results followed record first and second quarter revenues, resulting in a 29.5 percent net sales increase (1.4 billion euros, ed),” said David Weinberg, chief operating officer and chief financial officer at Skechers.
All of the footwear company’s channels experienced strong growth. Skecher’s domestic wholesale business rose by 18.5%. Internationally, it jumped by 60.6% and its directly-owned global retail business increased by 25%.
By the end of year, Skechers should open between 35 and 45 stores through its international distributor and franchise partners. The total number of Skechers stores should thus amount to 1000.
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