Record sales at Skechers
Skechers USA has posted record sales for its third quarter ended September 30, 2008.
Net sales totalled $403.2 million compared with $395 million in the third quarter of 2007. Net earnings were $28.3 million compared with $24.7 million.
“Skechers broke its quarterly sales record with its first $400 million-plus quarter, an achievement made during a soft retail environment,” stated chief financial officer, Fred Schneider.
However, he adds that: “Although we achieved record revenues, we did not grow quite to the degree that we had expected in our domestic, international and retail businesses due to the economic climate.
For the nine months ended September 30, net sales were $1.14 billion compared with net sales of $1.09 billion in the first nine months of 2007. Net earnings were $75.8 million compared with $63.6 million.
The company expects net sales for the fourth quarter to be between $305 million and $320 million.
