Skechers reports record third-quarter sales, recording a 15.9 per cent increase to US $ 2.35 billion from US $ 2 billion in the same period last year. The Manhattan Beach-based footwear company saw a significant rise in net earnings to US $ 193.2 million compared to US $ 145.4 million, in the prior year.
David Weinberg, Skechers’ COO, attributed the record sales to strong consumer demand across all distribution channels. He highlighted the brand’s expanding market presence and ongoing investment in operational capabilities to meet global demand.
CEO Robert Greenberg noted that the growth was driven by offering the right products at competitive prices, enhanced by marketing strategies promoting technologies like Skechers Hands-Free Slip-ins. Greenberg also mentioned the company’s focus on team sports, with global expansion into footwear for soccer, basketball, and other sports, supported by endorsements from top athletes.
Looking forward, Skechers projects Q4 sales between US $ 2.17 billion and US $ 2.22 billion. The company also raised its full-year guidance for fiscal 2024, expecting sales between US $ 8.93 billion and US $ 8.98 billion.
