Higher Q3 income at Skechers
California-based footwear firm Skechers USA Inc. has posted improved earnings for its third quarter, which were boosted by high Cali Gear sales and strong international sales.
Net income rose 11.5% to $24.7 million from $22.2 million for the same period a year ago, while revenues climbed 19.3% to $395 million from $331.1 million.
Year-to-date, net income grew 12.8% to $63.6 million from $56.4 million in the nine- month period last year. Revenues jumped 21.2% to $1.1 billion from $900.9 million a year ago.
The company is expecting fourth quarter sales to fall between $305 and $315 million. For the full year, it is anticipating earnings in the range of $1.397 to $1.407 billion.