Net income decreased 8% to $108,758,000 from $117,652,000 for Q1 2019 while revenue grew 2% to $1,276,756,000 million from $1,250,078,000. The company achieved a new quarterly sales record, despite a late Easter falling in Q2, negative foreign exchange rates and challenging domestic environment. Sales gains were driven by a 9% increase in international business, offsetting a 6% decrease in domestic business. Gross margin decreased 40 bps to 46.3%, as improved margins in company-owned domestic retail business were offset by lower international margins from higher discounts and negative foreign exchange impacts. SKX shares dropped 10% on the results.

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