Strong Q1 for Skechers, but uncertainty follows
Sports footwear group Skechers reported record sales of $2.41 billion for Q1 2025, a 7.1% year-over-year increase.
On a constant-currency basis, sales rose 9.0%. Wholesale sales grew 7.8%, while Direct-to-Consumer (DTC) sales increased by 6.0%. International sales were up 7.2%, with Europe, the Middle East and Africa (EMEA) posting a 14% rise, while Asia-Pacific (APAC) saw a decline of 3%. Domestic sales grew 6.9%.
Chief operating officer David Weinberg highlighted strong global demand across wholesale and DTC channels, with international markets accounting for 65% of total sales. The company continues to focus on growth opportunities in China, despite a slight decline in APAC sales overall.
Skechers’ Q1 gross margin stood at 52.0%, down 50 basis points, with operating expenses rising by 12.1%. Net earnings reached $202.4 million, slightly down from $206.6 million last year. The company also reported a decrease in cash holdings to $1.24 billion and a 7.6% drop in inventory.
Due to ongoing global trade uncertainties, Skechers has withdrawn its annual 2025 financial guidance.
