Skechers Announces Record First Quarter 2021 Financial Results
SKECHERS U.S.A., Inc. (“Skechers” or the “Company”) (NYSE:SKX), a global footwear leader, today announced financial results for the first quarter ended March 31, 2021.
First Quarter Highlights
-
Sales of
$1.43 billion , an increase of15.0% and quarterly record -
International Wholesale sales grew
23.8% -
Direct-to-Consumer sales grew
18.1% -
Diluted earnings per share were
$0.63 -
Cash, cash equivalents and investments were
$1.51 billion
“Skechers new sales record in the first quarter is a remarkable achievement, especially given the lockdown measures in many key countries, including across Europe,” began Robert Greenberg, Chief Executive Officer of Skechers. “This significant growth is the result of continued demand for Skechers product as consumers desire comfort and quality in their footwear and walking remains a top COVID-19 pandemic activity. With warmer weather and increased vaccination rates around the world, traffic is improving in many of our retail stores, and our digital business continues to be a very strong growth driver. In the first quarter, we increased our marketing efforts in the United States and supported many open international markets, including the airing of new campaigns with football coach, Jon Gruden and sports analyst, Howie Long—both for Arch Fit shoes, and a Super Bowl spot with commentator, Tony Romo, for Max Cushioning footwear. In addition, we ran Brooke Burke Arch Fit and Skechers apparel commercials, and multiple campaigns, on traditional and digital platforms. As a comfort technology company, Skechers received several product awards for our sport, running and golf shoes, and we were named Company of the Year from leading industry trade publication Footwear Plus. Despite the ongoing challenges related to the pandemic, we are pleased with our exceptional start to 2021 and believe our growth is a testament to our execution and the relevance of the Skechers brand.”
“The momentum we experienced in the second half of 2020 continued into the first quarter as we achieved revenue growth of
First Quarter 2021 Financial Results
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March 31, |
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