In its second-largest acquisition, Amazon buys the company for $970 million.
Total sales grew 18.3% for the shoe manufacturer.
Rebounding from two years of total sales decreases, Skechers USA Inc. increased its sales nearly 19% in 2013 and posted the second-highest fourth quarter sales in its history, helped by a healthy surge in e-commerce and international sales.
For the year ended December 31, Skechers, No. 471 in the Internet Retailer Top 500 Guide reported:
- Online sales of $27.2 million, a 24.2% increase from $21.9 million in 2012.
- Total sales of $1.85 billion, up 18.6% from $1.56 billion in 2012.
- Net earnings for 2013 of $54.8 million compared with net earnings of $9.5 million in 2012.
- E-commerce sales made up 1.5% of net sales in 2013 compared with 1.4% in 2012.
“The momentum we experienced in the first nine months of 2013 continued in the fourth quarter, which resulted in the second-highest fourth quarter sales in the company’s history,” says David Weinberg, chief operating officer and chief financial officer. “The growth is related to the strong product successes we are experiencing across our men’s, women’s, and kids’ categories, which resulted in double-digit increases in our company-owned retail and domestic wholesale businesses, and single-digit increases in our international and e-commerce businesses.
For the fourth quarter, Skechers reported:
- Total sales of $450.7 million, up 13.9% from $395.6 million in the fourth quarter of 2012.
- Net earnings for 2013 of $14.2 million compared with net earnings of $4.0 million in the fourth quarter of 2012.
- Gross profit of $200.6 million in the fourth quarter of 2013 compared to $168.5 in the fourth quarter of 2012.
Skechers does not report online sales by quarter.