Skechers, the footwear company headquartered in Manhattan Beach, California, had an exceptional year in 2019, surpassing previous records with sales topping $5.2 billion. This achievement was driven by a remarkable 12.5 percent increase in sales, primarily fueled by strong international growth, which experienced an impressive 20.2 percent rise. When adjusted for constant currencies, the growth rate was even higher, reaching 24.3 percent.

Contributing to this overall sales growth were both the international wholesale business and the direct-to-consumer business, which saw impressive increases of 19.8 percent and 13.7 percent, respectively. However, the domestic wholesale sales experienced a slight decline of 1 percent.

Thanks to this fantastic performance, Skechers reported net earnings of $346.6 million for the year, with diluted earnings per share of $2.25.

The fourth quarter of 2019 was particularly outstanding for the company, setting a new annual sales record and becoming the second highest sales quarter in Skechers’ history. Sales surged by an impressive 23.1 percent, driven by a substantial 31.2 percent increase in international sales. After adjusting for constant currency, the growth rate reached an impressive 32.3 percent.

During the fourth quarter, the international wholesale business witnessed a growth rate of 32.8 percent, while the company-owned direct-to-consumer business grew by 19.4 percent. Although the domestic wholesale business experienced slight growth of 10.4 percent, comparable same-store sales in company-owned stores and e-commerce posted an impressive increase of 9.9 percent. This growth was particularly strong both in the United States with 10.3 percent and internationally with 8.8 percent.

Robert Greenberg, the CEO of Skechers, expressed great satisfaction with the company’s performance, emphasizing their commitment to delivering style, comfort, and innovation to the world. The company’s sustained growth and the receipt of 27 product and brand awards in 2019 serve as evidence of having achieved their goals. Greenberg also highlighted Skechers’ preparedness to meet future demands and continued investment in global operations.

Looking ahead to the first quarter of 2020, Skechers anticipates sales to range between $1.4 billion and $1.425 billion, with diluted earnings per share projected to be between $0.70 and $0.75. Currently, the company operates 3,547 stores worldwide, with 800 of them being company-owned. Throughout the fourth quarter of 2019, Skechers opened 280 new locations while closing 40.

Useful links:
Skechers Official Website
Q4 2019 Skechers USA Inc. Earnings Release