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Article Date: April 2017
Word Count: 544

Skechers Has First Billion Dollar Quarter

Led by a double-digit increase in its international business, SKX sales hit ten digits for the first time, up 10% to $1,072,808,000 from $978,794,000, but net income slipped 4% to $93,995,000 from $97,612,000 as SG&A bulged to support the growth overseas. Gross margin expanded 30 basis points to 44.4%, including a $7 million negative impact from foreign exchange. Sales were driven by men’s casual and women’s sport active lines, with the GOwalk collection, heritage D’lights and key kids’ styles called out as the strongest performers. Wholesale pairs increased 4.5% but price per pair declined 4.8% to an implied $22.91 on ... Log in to view full article.


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