Upping prices leads to record sales for Sketchers
16/02/2015
Chief financial officer David Weinberg attributed it to double-digit improvements in wholesale and retail businesses.
He said: “In the US, average prices per pair increased by 7.4% in the fourth quarter, and within our international wholesale business, we experienced double-digit growth in many key countries that were negatively impacted by currency issues, both further testaments to the strength of our brand and product.
“With continued investments in our infrastructure for the coming years, including equipment automation upgrades at our European Distribution Centre and establishment of a company-operated distribution centre in Chile, $466.7 million in cash and inventories in-line with expected sales, we believe we are prepared for growth in 2015.
“We believe the best is yet to come, and are looking forward to the first quarter of 2015, which we expect will be a new quarterly sales record of $690 million to $710 million.”
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