In its second-largest acquisition, Amazon buys the company for $970 million.
Total sales dropped by 11.6%, but net loss shrank.
It was another tough quarter for fitness shoe maker and e-retailer Skechers USA Inc.
For the second quarter ended June 30, Skechers, No. 441 in the Internet Retailer Top 500 Guide, reported:
- Web sales of about $5.2 million, a 5.5% drop from $5.5 million in Q2 2011.
- Total sales declined 11.6% to $384.0 million from $434.4 million.
- Retail sales were $66.6 million, a 5.5% increase compared with $63.1 million.
- Net loss was $1.8 million, compared with a net loss of $30.0 million in Q2 of last year.
E-commerce sales represented about 1.4% of total revenue during Q2, compared with 1.3% in the same period last year.
For the first six months, Skechers reported:
- $10.1 million in e-commerce sales, an 8.2% decrease from $11.0 million in the first half of last year
- Total sales of $735.3 million, down 19.3% from $910.6 million.
- Retail sales of $207.4 million, an increase of 5.6% over $196.4 million.
- Net loss was $5.4 million, compared with a net loss of $18.1 million in 2011.
Web sales represented 1.4% in the first half of the year, compared with 1.2% last year.
“The focus at this time last year was the clearing of excess toning inventory which is now substantially complete and allows us to capitalize on the strength of our brand by selling more full-priced product while offering new lifestyle and performance looks,” says David Weinberg, chief operating officer.