The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Total revenue and earnings also were up for the quarter.
It was a better third quarter online for Skechers USA Inc., but year-to-date e-commerce revenue remained flat.
For the quarter ended Sept. 30, Skechers, No. 441 in the 2012 Internet Retailer Top 500, reported:
- E-commerce sales of $5.4 million, a 22.7% increase from $4.4 million in the third quarter of 2011.
- Total sales of $429.4 million, up year over year by 4.2% from $412.2 million.
- Net income of $11 million compared with net income of $8.3 million in the prior year quarter.
E-commerce accounted for 1.3% of sales, compared with 1.1% in Q3 2011.
“We are pleased with our continued improvements in financial performance and the positive response to our new products,” says Robert Greenberg, CEO at the shoemaker and retailer.
New products from the company’s performance division include running, walking and training footwear under its “GO” product line label.
For the first nine months, Skechers reported:
- Online sales of $15.43 million, down by .06% from $15.42 million in the same period of 2011.
- Total sales were $1.16 billion, a year over year 12.1% decrease from $1.32 billion.
- Net income of $5.6 million, compared with a net loss of $9.8 million through the first nine months of 2011.
The web accounted for 1.3% of sales, compared with 1.2% in the first nine months of 2011.