Skechers jumps for joy at record third quarter sales

Skechers has recorded impressive increases in the third quarter of 2018 in all areas of business.

Shoe store franchise Skechers has had plenty of reasons to celebrate as it’s just announced a record third quarter for 2018.

Commenting on the fantastic result, Robert Greenberg, Chief Executive Officer of Skechers, said: “Achieving record third quarter sales is a notable accomplishment given the strength of our third quarter 2017 sales.”

He explained that both its US and international operations grew and that the footwear franchise continued to lead the “walking, work, casual lifestyle and sandals footwear” category in the United States. He attributed the success of the franchise to the rise in popularity of the signature Skechers D’Lites, which have been featured in fashion magazines such as Marie Claire, Elle and on blog Highsnobriety as a fashionable example of the chunky trainer trend, as well as plenty of new store openings across the globe.

Commenting on what the future holds for Skechers, Greenberg was optimistic that growth could be sustained in the future. “As we continue to invest in our international infrastructure, we believe there is significant opportunity to grow our brand further through both wholesale, and Company-owned and third-party retail stores, which now stand at 2,802 locations worldwide. We’re looking forward to fourth quarter growth across both our domestic and international channels and a new annual sales record.”

David Weinberg, COO of Skechers, echoed Greenberg’s comments and listed some of the impressive figures that Skechers managed to achieve of the last three months. “With three record sales quarters in 2018 and brand acceptance around the globe, we achieved a new record for the first nine months of $3.56 billion, an 11.5 percent increase over last year. In the third quarter, our international distributor business returned to growth, increasing 11.6 percent over the same period last year, and combined with our international joint venture and subsidiary business, our total international wholesale sales increased 11.8 percent for the period. International wholesale along with international retail now represents 55.5 percent of our total business.”