Europeans’ taste for Skechers leads to 40% Q1 increase
Athletic shoe brand Skechers saw sales leap 40% in the first quarter of the year, to reach $768 million – the highest quarterly gains in the company’s history.
Chief operating officer David Weinberg said: “We achieved this growth despite significant headwinds, which included the strengthening US dollar, unseasonably cold weather in many markets, and the slowdown at the West Coast ports. Further, our European distribution centre was operating less efficiently than we had originally anticipated due to the transition to a new automation system combined with stronger than expected sales in the region.”