Skechers sales up 9.7% in Q2 2016, breaks record

Manhattan Beach, California — Skechers USA said sales for the second quarter of 2016 were $878 m up from $800 m in the same period of 2015, a "new record second quarter which lead to a $1.86 bn sales record for the first six months of 2016," said David Weinberg, chief operating and financial officer.

Sales in the second quarter grew because of a 36.4% increase in sales at international subsidiaries and joint ventures and a 40.5% rise in sales through company-owned retail stores. These fed through to a 47.4% increase in gross margin in the quarter compared with Q2 2015, the firm added.

For the six months to 1 June 2016, gross profit was $848 m equivalent to 45% of net sales, this compares with $707 m for the first half of 2015.

Skechers ceo Robert Greenberg,  said: "In an environment that included economic and political uncertainty in both the US and abroad and challenges in domestic retail space... Skechers is a brand that consumers could count on." He continued that the firm had opened stores including  its first outlet in Belgium, Norway and Finland and an additional 42 in China, taking the total there to 223. Latin America, Botswana and Sri Lanka are also target locations for stores, he said.

Greenberg added: "We experienced our biggest shipping month in our history from our North American distribution centre and our European distribution centre also exceeded its planned shipping for June. Based on our June shipments we believe this positive momentum will continue into the third quarter."