Manhattan Beach, California — "First-quarter 2017 net sales represent a new quarterly record and the first time we exceeded $1 bn in quarterly sales," said David Weinberg, chief operating officer and chief financial officer of Skechers.
The company had net sales of $1.073 bn up 9.6% on the equivalent quarter in 2016. The company saw considerable rises of 16.8% in its international wholesale business and 12.8% in its own globally owned retail businesses, he added. Its domestic wholesale net sales in the US were relatively flat compared to the first quarter of 2016.
"The quarter was a landmark in another way, "Skechers international business, including retail, grew to 51.3% of our total sales of first-quarter,” Weinberg said. He continued: "we see opportunities in the US to increase our business, but we believe international markets continue to present the strongest opportunity for growth.”In 2005 Skechers surpassed $1 bn in annual sales said Robert Greenberg, ceo who attributed the brand’s strength to lifestyle campaigns featuring several celebrities and sponsorship of events such as the Los Angeles Marathon, and pan- European Ironman Championships.
The company believes that the second quarter will also be a record and is predicting sales of approximately $950 m to $975 m in sales.
