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Article Date: April 2024
Word Count: 546

Skechers Outperforms as Wholesale Returns to Growth

Net income increased 29% in Q1 to $206,622,000 from $160,443,000 on sales that were up 13% to a quarterly record $2,251,587,000 from $2,001,928,000, helped by a wholesale rebound in both domestic and international markets. That segment grew by 10% to $1,421.7 million, entirely from units, as ASP was flat. Direct-to-consumer did even better, gaining 17% to $829.9 million helped by 2% higher ASPs and 16% volume growth. Wholesale gross margin was 44.7%, up 520 basis points, and DTC gross margin contracted 20 b.p. to 65.7%.


Domestic sales increased 8% overall to $798.9 ... Log in to view full article.


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