March 2, 2011, 2:07 PM

Annual web sales grow, but falter in Q4 at Skechers

Web sales rose 22.1% in 2010, but fell 15.4% in Q4.

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Shoe manufacturer and retailer Skechers USA Inc. had a good e-commerce year overall in 2010.

For the year ended Dec. 31, Skechers, No. 354 in the Internet Retailer Top 500 Guide, reported:

  • Web sales increased 22.1% year over year to $27.6 million from $22.6 million.
  • Total sales increased 38.9% to $2 billion from $1.44 billion in 2009.
  • Retail sales increased 27.6% to $410.7 million from $321.8 million in 2009.
  • Net earnings grew year over year 148.8% to $136.1 million from $54.7 million.

“In 2010, we broadened our product range with increased kids offerings, fresh fitness styles and a larger assortment of boots,” says CEO Robert Greenberg. “We see numerous opportunities to continue to strategically grow our business around the world.”

Internet Retailer calculates the web accounted for 1.4% of total sales in 2010 compared with 1.6% in 2009.

For the fourth quarter:

  • Skechers did not break out Q4 web sales in its annual report filed recently with the U.S. Securities and Exchange Commission. But based on earlier year-to-date sales, Internet Retailer calculates web sales in the fourth quarter declined 15.4% to $6.6 million from $7.8 million. A spokesman for Skechers’ external investor relations firm says the decline in Q4 web sales stems from a drop in online sales for Shape Up, a line of shoes for toning and conditioning.
  • Total sales increased 17% to $454.6 million from $388.6 in 2009.
  • Net earnings decreased year over year 88.5% to $3.2 million from $27.9 million.

Internet Retailer calculates the web accounted for 1.5% of total sales in 2010 compared with 2% in 2009.

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