Manhattan Beach, California — Skechers, the global footwear giant, generated total net sales of $1.97bn in the first half of 2020. This is a fall of 22% compared with the same period in 2019.
Skechers loses 22% of sales in H1 due to Coronavirus
Gross profit across the business fell 24% and hit $916 m. In the first half of 2019, gross profit was $1.20 bn.
CEO Robert Greenberg said: 'Skechers, like most businesses around the world, has never faced a more challenging time than during the pandemic, which caused the closing of nearly every market worldwide.'
In the statement, released on 23 July, he said that 90% of his company's stores worldwide had reopened. 'We are hopeful that global economies will continue to improve,' he said.
'[There has been] a return to growth in China, consistent improvement each month in some markets outside China, and a 400% increase in our company owned e-commerce business,' added COO David Weinberg.