11/16/10

Web sales decline for Skechers USA

E-commerce revenue dropped 17.1% in Q3, but is up 42% for the year.

Mark Brohan , Research Director

It was a tough third quarter online for Skechers USA Inc., but year-to-date e-commerce revenue is up by a healthy margin.

For the third quarter ended Sept. 30, Skechers, No. 354 in the Internet Retailer Top 500 Guide, reported:

In its recently filed third quarter earnings report with the U.S. Securities and Exchange Commission, Skechers didn’t give a reason for the year-over-year decrease in web sales. The company said it was satisfied with its overall performance in the third quarter. “Our third quarter net sales of over $550 million represent a new quarterly record,” says chief financial officer David Weinberg.

Internet Retailer calculates the web accounted for 1% of total sales compared with 1.7% in the third quarter of 2009.

For the first nine months, Skechers reported:

Internet Retailer calculates the web accounted for 1.4% of total sales, the same as in the first three quarters of 2009.

Topics:

athletic shoe manufacturer, David Weinberg, Skechers, Skechers Q3 earnings, Skechers.com

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