Skechers profits from focus on international business
24/10/2017
This growth was driven by its international wholesale business, which saw a 25.7% year on year increase in revenue. There was also 18.6% growth in its company-owned global retail business.
“The strong international growth, including the continued strength in China, the resurgence of the United Kingdom and growth across all of Europe, combined with our strong international retail business, resulted in international wholesale and retail representing 53% of our total sales in the third quarter,” explained David Weinberg, chief operating officer and chief financial officer.
The brand’s net earnings in the third quarter were $92.3 million, 41.8% higher than in the same period of 2016.
Referring to the Skechers’ success in the international market, chief executive Robert Greenberg said: “Now, more so than ever before, we are approaching our business from a global perspective, developing product that will resonate with consumers in the Americas, across Europe, throughout Asia, and the rest of the world.”
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