Skechers 3Q Sales Climb on Strong Consumer Demand

Dow Jones

Oct 25, 2024

By Sabela Ojea

Skechers USA logged sales growth in the third quarter fueled by consumer demand across all distribution channels.

The shoe maker on Thursday posted a net profit of $193.2 million, or $1.26 a share, compared with $145.4 million, or 93 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast per-share earnings of $1.14.

Stripping out one-time items, the company's earnings per share came in at $1.20. Wall Street had expected adjusted per-share earnings of $1.16.

Sales climbed 16% to $2.35 billion, beating the $2.31 expected by analysts.

Skechers said its domestic and international sales were up 15% and 16%, respectively. In the Asia Pacific region, where the company had been seeing a slowdown due to challenges in China, Skechers logged growth of 7%. In Europe, Middle East and Africa sales jumped 30%.

Revenue in the Americas rose 14%, with wholesale up 21% and direct-to-consumer sales seeing an increase of 9.6%.

"These results reinforce our confidence in achieving our goal of $10 billion in sales by 2026 and continued growth thereafter," Chief Financial Officer John Vandemore said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

October 24, 2024 16:47 ET (20:47 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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In Europe, Middle East and Africa sales jumped 30%.Revenue in the Americas rose 14%, with wholesale up 21% and direct-to-consumer sales seeing an increase of 9.6%.\"These results reinforce our confidence in achievi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SKX":"斯凯奇"},"translate_title":"消费者需求强劲，斯凯奇第三季度销量攀升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKX":0.6},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Skechers USA logged sales growth in the third quarter fueled by consumer demand across all distribution channels. \n\n\n  The shoe maker on Thursday posted a net profit of $193.2 million, or $1.26 a share, compared with $145.4 million, or 93 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast per-share earnings of $1.14. \n\n\n  Stripping out one-time items, the company's earnings per share came in at $1.20. 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