Global footwear chain Skechers registered its Q3 revenue for 2018 and recorded sales of US $ 1,17 billion up from US $ 1,09 billion a year earlier. Its profit margin slid to 7.7 percent compared to 8.4 percent the last year.
Driven by 11.8 percent increase in its international wholesale business and a 10.6 percent increase in its owned global retail business, the sales advanced 7.5 percent on an year on year basis.
Robert Greenberg, Chief Executive, Skechers, said, “Achieving record third quarter sales is a notable accomplishment given the strength of our third quarter 2017 sales. Both our domestic and international businesses grew and we remained a leader in walking, work, casual lifestyle and sandals category in the United States.”
For the fourth quarter, the New York-listed company expects to achieve sales in the range of US $ 1.100 billion to US $ 1.125 billion and diluted earnings per share of US $ 0.20 to US $ 0.25.
Offering lifestyle and athletic footwear, Skechers has over 11,000 employees worldwide and operates more than 2600 stores.
