Skechers announces record sales
For its fourth quarter ended 31 December, Skechers has posted net sales of 569 million dollars, up 26.4% compared to the $450.7 million in the fourth quarter of 2013.
As for its net income, the footwear specialist, who chose former Beatle Ringo Starr as the face of its "Relaxed Fit" shoes, recorded a 54% jump to 19.2 million dollars.
"The outstanding fourth quarter growth was the result of double-digit improvements in our domestic and international wholesale and Skechers Company-owned retail businesses," said David Weinberg, Skechers chief operating officer and chief financial officer.
Moreover, in the United States, in the Skechers wholesale network, the average price of the brand's shoes went up 7.4%.
Thus, in the fourth quarter, Skechers saw its domestic wholesale network sales jump 24.3%, and its international wholesale network sales jump 37.9%, while its network of stores (17 openings during the fourth quarter) saw a 22% increase.
For its entire financial year closed 31 December, Skechers posted $2.37 billion in sales, up 28.8% compared to the previous year. Its earnings from operations in the fourth quarter of 2014 were $33.0 million compared to earnings from operations of $17.1 million in the fourth quarter of 2013.
Skechers is present in 100 countries and territories worldwide and has more than 1,000 retail stores.
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