Skechers USA, a global footwear leader, has posted 0.5 per cent sales decline to $1.32 billion in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of $1.33 billion in the same period previous fiscal. Company’s net earnings for the reported quarter slipped 10.4 per cent to $53.3 million ($59.5 million).

 

Skechers USA, a global footwear leader, has posted 0.5 per cent sales decline to $1.32 billion in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of $1.33 billion in the same period previous fiscal. Company's net earnings for the reported quarter slipped 10.4 per cent to $53.3 million ($59.5 million). #

“For Skechers, 2020 began with positive momentum following a year of record sales, but the global pandemic put us to the test. This past year, we were forced to act and react faster and continue to do so given the on-going health crisis. In the fourth quarter, we nearly drove our sales to a new fourth quarter record,” Robert Greenberg, chief executive officer of Skechers, said in a press release.

 

Skechers USA, a global footwear leader, has posted 0.5 per cent sales decline to $1.32 billion in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of $1.33 billion in the same period previous fiscal. Company's net earnings for the reported quarter slipped 10.4 per cent to $53.3 million ($59.5 million). #

Gross profit for Q4 FY20 was $648.1 million (Q4 FY19: $637.7 million). Selling, general and administrative expenses were $595.7 million ($548.3 million). Company’s earnings from operations were down 38.5 per cent to $57.7 million ($94.1 million).

 

Skechers USA, a global footwear leader, has posted 0.5 per cent sales decline to $1.32 billion in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of $1.33 billion in the same period previous fiscal. Company's net earnings for the reported quarter slipped 10.4 per cent to $53.3 million ($59.5 million). #

“We saw our athletic lifestyle, walking and work footwear products for men and women drive domestic wholesale growth. Our international wholesale business achieved 2.5 per cent sales growth led by 29.7 per cent increase in China, as well as double-digit increases in Chile, United Kingdom, Germany and Spain, among others,” David Weinberg, chief operating officer of Skechers, said.

 

Skechers USA, a global footwear leader, has posted 0.5 per cent sales decline to $1.32 billion in its fourth quarter (Q4) FY20 that ended on December 31, 2020, compared to the sales of $1.33 billion in the same period previous fiscal. Company's net earnings for the reported quarter slipped 10.4 per cent to $53.3 million ($59.5 million). #

“While we understand the economic recovery from the Covid-19 pandemic will not be quick and many regions are still being impacted, Skechers remains a desired brand. As we plan for future success, we continue to invest in our long-term growth potential, including improving our supply chain in the United States, Asia and Europe and other select markets, scaling innovation within our operations, and further enhancing our digital capabilities with the planned roll out of e-commerce platforms around the world,” Weinberg said in the release.