The city is broadening the reach of its 9% “amusement tax” to include streaming entertainment services like Netflix and Spotify.
It was a healthy first quarter across the board, including online, for Skechers USA Inc.
For the quarter ended March 31, Skechers, No. 354 in the Internet Retailer Top 500 Guide, recorded:
- Web sales increased 141.2% to $8.2 million from $3.4 million in the first quarter of 2009.
- Total sales grew 43.5% to $492.8 million from $343.5 million in the previous year.
- Retail sales increased 45.3% to $87.2 million from $60.0 million.
- The company didn’t report U.S. comparable-store sales.
- Domestic wholesale revenue increased 51.8% to $274.0 million from $180.5 million in the first quarter of 2009.
- International wholesale revenue increased 23.9% to $123.4 million from $99.6 million in the first quarter of 2009.
- Net earnings grew 658.1% to $56.1 million compared with net income of $7.4 million in the prior year.
“Our first quarter net sales of nearly $500 million continue the strong momentum we experienced in the second half of 2009,” says chief financial officer David Weinberg. “We continue to grow market share in the global footwear market.”
Internet Retailer calculates the web accounted for 1.7% of total sales,