Skechers sets sales record, surpassing US$8 billion

Skechers USA has reported record sales of US$8 billion for FY23, representing a 7.5 per cent year-on-year increase.

The growth was primarily driven by the 13.3 per cent increase in international sales, partially offset by a 0.8 per cent decline in domestic sales.

Direct-to-consumer sales rose 24.3 per cent to $683.4 million, led by EMEA with a 49.2 per cent increase, followed by Apac (22 per cent) and America (21.5 per cent).

Meanwhile, wholesale sales dropped 2.8 per cent to $127.6 million, driven by a decline in America and offset by improvements in EMEA and Apac.

The company ended the year with 5168 stores, including 563 domestic locations, 1085 international stores, and 3520 outlets run by distributors, licensees and franchisees.

“Skechers’ new annual sales record of $8 billion was the result of the broad acceptance of our products worldwide, our loyal and growing consumer base, the cultivated relationships with our partner network, and our determined and dedicated team,” commented CEO Robert Greenberg.

The company anticipates sales of between $2.175 and $2.225 billion for the first quarter of FY24, and between $8.6 and $8.8 billion for the full year.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.