Skechers USA Inc. closed out the third quarter with a decent gain in web sales.
In the third quarter ended Sept. 30, online sales at Skechers, a manufacturer and retailer of footwear, grew by 14.3% from $4.2 million in Q3 2007 to $4.8 million while total sales increased by 2.1% from $395 million in Q3 2007 to $403.2 million. U.S. retail sales also rose year-over-year by 1.3% to $79.3 million from $78.3 million in the third quarter of 2007, the company says. Q3 e-commerce sales accounted for about 1% of total sales.
For the first three quarters, e-commerce sales grew 14.5% year-over-year to $13.4 million from $11.7 million. Skechers, No. 362 in the Internet Retailer Top 500 Guide, also reported net earnings of $75.8 million on sales of $1.14 billion for the first three quarters, compared with net earnings of $63.6 million on sales of $1.09 billion in the prior year. Retail sales for the first three quarters totaled $211 million, an increase of 3.6% from $203.7 million a year earlier.
“Skechers broke its quarterly sales record with its first $400 million-plus quarter, an achievement made during a soft retail environment," says chief financial officer Fred Schneider. "Although we achieved record revenues, we did not grow quite to the degree that we had expected in our domestic, international and retail businesses due to the economic climate.” Skechers operates 207 stores, including 17 outside the U.S.
Laura Christine, vice president of direct marketing and commerce, spoke at this year’s Internet Retailer Conference & Exhibition. Her audio-visual presentation at IRCE 2008 is available on CD-ROM.
Back...
