Skechers’ sales reach another record high in 2024

California, US – Skechers has reached another annual sales high, with the 2024 figure of $8.97bn representing a 12.1% increase on the $8.00bn recorded in 2023. On a constant currency basis, the sum just tops the $9bn mark. Earnings from operations were up to $904m, a 15.2% increase on the previous year’s $785m.

Sales via the wholesale channel were up 13.2%, and direct-to-consumer sales also grew at a double-digit rate, rising 10.7%. On a regional basis, sales were up 14% in the Americas and 25% in EMEA, but just 3% in APAC.

The end-of-year inventory of $1.92bn was up 25.8% from the same point the year before. This, the company said, was a result of the growing business, with higher levels of merchandise in transit, partially attributable to the Suez Canal disruption.

In the fourth quarter, the growth in wholesale was even more significant, at 17.5%. This compared to 8.4% in the direct-to-consumer business.

“We delivered record full year sales … reflecting the continued robust global consumer demand supported by effective marketing campaigns,” said COO David Weinberg.

The company is expecting high-single-digit growth in 2025, and predicts its full-year sales total will be between $9.70bn and $9.80bn. It is expecting capital expenditure to be in the range $600m to $700m. This includes investment to expand its US and Chinese distribution centres.

To see all the latest financial results, please visit
https://www.utech-polyurethane.com/topic/financial