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Article Date: July 2021
Word Count: 691

Skechers Raises Guidance after Triple-Digit Gain


Net income soared in the second quarter to $137,369,000 against a $68,097,000 loss last year, as the top line set another quarterly record of $1,657,773,000, up 127% from last year’s $729,472,000 and 32% higher than in 2019. The gains were impressive across the board, lapping last year’s shutdowns, though SKX noted that India was hit hard by Covid in Q2, and other markets, including Canada, South America and Japan, still have store closures and reduced operating hours. Too, the company has suffered from the same supply chain headwinds getting product shipped and through congested ports as its industry competitors.

 

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