Skechers, a footwear business, met Wall Street’s expectations of US $ 2.22 billion with revenues of US $ 2.21 billion for the fourth quarter of FY ’24, an increase of 12.8 per cent.
However, they fell 2.6 per cent short of analysts’ forecasts with their first-quarter fiscal year 2025 revenue guidance of US $ 2.42 billion.
According to reports, the company’s direct-to-consumer sales increased 8.4 per cent and wholesale sales grew 17.5 per cent.
David Weinberg, Chief Operating Officer of Skechers, commented that the year concluded with a successful holiday season, which helped achieve record fourth-quarter sales of US $ 2.21 billion.
He added that while challenging market and shipping conditions continued in some countries, the strength of their business can be attributed to their unique market position and a compelling value proposition that blends comfort, innovation, style, and quality at an affordable price.
