Skechers USA, a worldwide footwear company, raised third-quarter sales by 19.2 percent to $1.5 billion from the prior fiscal period. Net earnings increased by 60% to $103.1 million for the quarter. The third-quarter result was led by a 20.1 percent increase in domestic sales and an 18.6 percent increase in overseas sales.
“Skechers reached a new third quarter sales figure of over $1.5 billion for the period, a significant achievement despite the constant supply chain interruptions,” stated David Weinberg, Skechers’ chief operating officer, in a news statement.
“Skechers reached a new third quarter sales figure of over $1.5 billion for the period, a significant achievement despite the constant supply chain interruptions,” stated David Weinberg, Skechers’ chief operating officer, in a news statement.
“The record quarter was driven by double-digit growth in both our local and abroad businesses compared to the third quarter of 2020, demonstrating the worldwide relevance of our brand and a stabilizing retail climate.”
The quarter’s gross profit increased to $769.4 million ($625.1 million), while operating costs totaled $630.7 million ($536.2 million). The earnings from operations of the American footwear company increased to $146.2 million ($92.1 million).
The quarter’s gross profit increased to $769.4 million ($625.1 million), while operating costs totaled $630.7 million ($536.2 million). The earnings from operations of the American footwear company increased to $146.2 million ($92.1 million).
“As we look forward to the fourth quarter and the first half of 2022, we expect supply chain bottlenecks will continue to be an issue, while we are beginning to see improvement in key global ports, particularly in Europe and other international markets.” Nonetheless, we are pleased with our worldwide team’s execution in delivering our comfort technology footwear to retail outlets and our partner organisations in order to meet the high desire for Skechers goods,” Weinberg added. “Luxury and innovation remain to be at the heart of who we are and why Skechers remains a leading global footwear brand.” We provide signature comfort throughout the Skechers collection, blending innovation, style, and quality at an affordable price. Supply chain restrictions hampered our regular delivery speeds, but our staff worked diligently to move inventory as rapidly as possible, delivering to our stores and partners in an effort to meet demand,” Skechers CEO Robert Greenberg said.
“While we promoted our organization with widespread advertising efforts around the world, we also focused on producing new products, resulting in what we believe is our greatest assortment yet.” This includes a growing seasonal assortment made up of recycled materials, as well as expanding our fit offers with the comfort of our customers in mind. During the quarter, we accomplished a lot, including remaining the world’s third largest athletic footwear company and setting a new quarterly sales high. Having said that, we feel Skechers’ finest days are still to come,” Greenberg concluded.
“While we promoted our organization with widespread advertising efforts around the world, we also focused on producing new products, resulting in what we believe is our greatest assortment yet.” This includes a growing seasonal assortment made up of recycled materials, as well as expanding our fit offers with the comfort of our customers in mind. During the quarter, we accomplished a lot, including remaining the world’s third largest athletic footwear company and setting a new quarterly sales high. Having said that, we feel Skechers’ finest days are still to come,” Greenberg concluded.
