Sales rise at footwear marketer SKECHERS

27 Oct '05

3 min read

Gross profit for the third quarter of 2005 was $115.5 million or 42.3 percent of sales compared to $103.9 million or 40.3 percent of sales in the third quarter of last year. Gross profit for the first nine months of 2005 was $327.4 or 41.8 percent of sales versus $288.9 million or 40.5 percent of sales in the first nine months of the prior year.

Mr. Weinberg continued that the improved third quarter net sales, operating profit and net earnings were the result of a combination of growth in their domestic wholesale, international direct and SKECHERS-owned retail stores as well as continued cost management on the expense and operational side of business.

He included that the revenue improvements were primarily led by an increased demand for SKECHERS' denim friendly styles for men and women, as well as significant growth from thier recently launched designer and lifestyle lines, which are becoming profitable stand-alone businesses.

Robert Greenberg, SKECHERS' Chief Executive Officer confirmed that the first nine months of 2005 were strong from a product, marketing, sales and brand acceptance stand point. They've hit their stride and are gaining ground through a steady flow of fresh SKECHERS' products and brands including Michelle K, Mark Nason, 310 Motoring and Marc Ecko, which are all retailing well.

Manhattan Beach, California based SKECHERS USA Inc designs, develops and markets a diverse range of footwear for men, women and children under 12 unique brand names. It has also granted select third party licenses for SKECHERS-branded apparel, swimwear and hosiery.

SKECHERS USA Inc

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