Madison Reed has raised $32.1 million since launching 15 months ago.
Total sales declined nearly 11% in Q1 and comparable-store sales at the company’s 210 U.S. retail stores were off 6.9%. The company attributes the decrease to “the challenging retail environment.”
Web sales for shoe manufacturer Skechers USA Inc. decreased 17.1% to $3.4 million in the first quarter from $4.1 million in the same period a year ago. The company attributes the decrease to “the challenging retail environment” in a filing with the U.S. Securities and Exchange Commission.
Skechers, No. 373 in the Internet Retailer Top 500 Guide, also reported that total net sales declined 10.8% in Q1 to $343.5 million and that same-store sales declined 6.9% in its 210 U.S. stores. Net income for the company as a whole fell to $7.4 million from $32.8 million.
Gross profit in the e-commerce segment fell 12.5% to $1.76 million from $2.01 million in the year-ago quarter. Web sales accounted for about 1% of Skechers’ sales in the first quarter, about the same as a year ago.
Laura Christine, vice president of direct marketing and e-commerce at Skechers USA, will speak at the Internet Retailer Conference & Exhibition, June 15-18 in Boston, in a session entitled Everything you always wanted to know about ad networks-but didn`t know where to begin.