The global footwear brand Skechers continues to expand its footprint, with 180 to 200 new company-owned stores to open for 2025, COO David Weinberg told analysts on the company’s earnings call.
“We opened 77 company-owned stores in the last quarter, including 20 big-box locations in the United States, 15 stores in China and five each in Canada, Colombia and Mexico,” he said.
Skechers’ net income totaled $99.3 million, or earnings per share of $0.65, for the quarter ended Dec. 21, compared with net earnings of $87.2 million and earnings per share of $0.56 in the year-ago period. Adjusted earnings were $0.86 a share.
Net sales rose 12.8% to $2.21 billion. Sales increased 14% in the Americas and 25% in Europe, the Middle East and Africa. Sales rose 3% in Asia-Pacific, with the company citing “continuing headwinds” in China.
“We saw particularly strong results in the United States, across Europe, in India and in Japan,” said Weinberg in the earning release. “Though challenging market and shipping conditions persisted in a few countries, the strength of our business is attributable to our differentiated market position, a highly attractive value proposition that combines comfort, innovation, style and quality at an attainable price
For the full year, Skechers’ sales increased 12.1% to $8.97 billion. On a constant currently basis, sales rose 13% to $9.04 billion.
