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Skechers’ quarterly sales up 16 per cent

Footwear company Skechers’ quarterly net sales increased 16.9 per cent. This was due in part to a 6.4 per cent increase in the domestic wholesale business, an 18.6 per cent increase in the international wholesale business, and a 28 per cent increase in the global retail business.

The domestic wholesale business shipped 11.4 per cent more pairs, while the average price per pair fell 4.5 per cent. Growth came across Skechers’ three distribution channels—with double-digit increases in the company-owned global Skechers retail business as well as a mid-single-digit increase in its domestic wholesale business.

The launch of the ‘You’ by Skechers lifestyle and wellness line also contributed to the record sales performance, with strong sales in the sandal business, and the company reported double-digit growth in China, India, Australia, Germany and Chile.

In addition to record performances, gross profit in the second quarter increased to 47.6 per cent of net sales, and selling expenses increased to 9.7 per cent of sales, compared to 8.7 per cent of sales, in the prior year, due to increased advertising. Net earnings in the second quarter fell 19.7 per cent and net earnings for the six-month period were $153.5 million.

 
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