Online sales boom for Skechers in the second quarter

Online sales are off to a fast start so far this year for Skechers USA Inc.

For the quarter ended June 30, Skechers, No. 354 in the Internet Retailer Top 500 Guide, recorded:

• Web sales increased 59.9% to $6.94 million from $4.34 million in the second quarter of 2009.
• Total sales grew 68.9% to $504.85 million from $298.97 million in the previous year.
• Retail sales increased 41.7% to $102.34 million from $72.25 million.
• The company didn’t report U.S. comparable-store sales.
• Domestic wholesale revenue increased 97.5% to $317.78 million from $160.89 million in the second quarter of 2009.
• International wholesale revenue increased 26.5% to $77.77 million from $61.49 million in the second quarter of 2009.
• Net earnings were $40.23 million compared with a net loss of $5.92 million in the prior year.

Internet Retailer calculates the web accounted for 1.4% of total sales, compared with 1.5% in the prior year.

For the first two quarters, Skechers reported:

• Web sales increased 96.4% to $15.16 million from $7.72 million in January through June of 2009.
• Total sales grew 55.3% to $997.62 million from $642.44 million in the previous year.
• Retail sales increased 43.3% to $189.58 million from $132.29 million in January through June of 2009.
• Net earnings grew 4115.3% to $96.53 million compared with net earnings of $2.29 million in the prior year.

Internet Retailer calculates the web accounted for 1.5% of total sales, up from 1.2% in the prior year.