Skechers’ sales rose 12.5 percent in the first quarter due to increases of 7.8 percent in the country and 15.2 percent outside.
The company’s chief operating officer, David Weinberg, stated, “For the first quarter, Skechers achieved a new sales record of 2.25 billion dollars, EPS of 1.33 dollars, gross margins of 52.5 percent, and an operating margin of 13.3 percent, all notable accomplishments as we mark our 100th earnings call as a public company.”
According to the corporation, wholesale sales increased by 127.1 million dollars, or 9.8 percent, with gains of 11.5 percent in EMEA, 15.3 percent in APAC, and 5.9 percent in AMER.
Sales to consumers increased by 122.6 million dollars, or 17.3 percent, with gains of 16.5 percent in APAC, 10.5 percent in AMER, and 62.4 percent in EMEA.
“With our focus on evolving and innovating our extensive product offering, best-in-class partnerships with our distribution network, and exceptional global demand, we are confident that Skechers will have another record-breaking year,” said Robert Greenberg, CEO of Skechers, in a statement regarding the outlook.
The gross margin increased by 360 basis points to 52.5 percent. Operating margin climbed to 13.3 percent as earnings from operations jumped from 75.2 million dollars, or 33.6 percent, to 298.8 million dollars.
