Skechers beats Q1 expectations
The company achieved a new quarterly sales record at the start of the new year.
US-based Skechers has reported sales of USD 1.82 billion (GBP 1.48 billion) for the first quarter of the 2022/2023 fiscal year. The represents a 26.8 per cent increase from the previous year. Net earnings for this period were USD 121.2 million (GBP 98.6 million).
“As we mark our third decade in business, we couldn’t be more excited about our future,” said company chief executive, Robert Greenberg. “In the first quarter, we achieved a new quarterly sales record.”
Despite the challenges faced by the footwear industry due to continuing COVID-19 lockdowns and the conflict in Ukraine, analysts have announced their confidence in Skechers’ potential for long-term growth.
This article was originally published on page 2 of the May 2022 issue of SATRA Bulletin.