Credit: Shutterstock.

Skechers has reported record Q2 (second quarter) results thanks to a 17.9% increase in international sales and a 29.1% increase in direct-to-consumer sales, however its domestic sales were down by 4.6%.

Skechers chief financial officer John Vandemore commented: “Despite anticipated headwinds in the domestic wholesale market, we successfully navigated the challenges and achieved record quarterly sales in addition to a new second-quarter earnings record.”

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Direct-to-consumer channels experienced significant growth, reaching $212m, with noteworthy increases in the Americas (28.2%), APAC (25.1%), and EMEA (47.2%).

However, wholesale sales decreased by 5.9% to $67.3m, primarily due to a decline in the Americas (18.7%). However, this was partially offset by increases in APAC (14.3%) and EMEA (7.4%).

Summary of Skechers Q2 results

  • Net earnings for the quarter were $152.8m
  • Operating expenses increased by 13.4% to $842.8bn compared to last year which was at $743.4bn and operating margin was 10.8% compared to 8.3% the year prior.
  • Gross margin was 52.7%

David Weinberg, chief operating officer at Skechers added: “Our strong gross margin of 52.7% was primarily driven by a higher proportion of direct-to-consumer sales, which grew 29%. We were able to deliver our product more effectively and improve our inventory levels, which enabled robust sales across our comfortable, innovative, stylish and high-quality collections.”

Looking ahead, The company anticipates sales between $1.95bn and $2.0bn in the third quarter of fiscal 2023 and reiterated its future goal of $10bn in annual sales by 2026.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“The second quarter marked yet another sales record and a new milestone as we made the Fortune 500 list of largest companies, a testament to the strength of our brand and the dedication of our entire organisation to consistently create, innovate and meet the footwear needs of consumers,” added Robert Greenberg, Skechers’ chief executive.