Skechers USA, Inc. reported earnings nearly doubled year-over-year in the fourth quarter and came in well ahead of Wall Street’s estimates.
Fourth Quarter Highlights
- Sales of $1.65 billion, a year-over-year increase of 24.4 percent;
- Direct-to-Consumer sales grew 30.3 percent;
- International Wholesale sales grew 30.1 percent; and
- Diluted earnings per share of $2.56, and adjusted diluted earnings per share of $0.43.
“Skechers’ focus on delivering signature comfort technology in our products resulted in record 2021 sales,” began Robert Greenberg, CEO, Skechers. “We’re extremely proud of the entire Skechers team and of our partners who worked through the many obstacles last year; unwavering in their dedication to the Skechers brand. We believe our accomplishments in 2021, including several comfort-focused new product launches and the further expansion of our global footprint, position Skechers for continued growth toward our goal of $10 billion in sales. In 2022, we’ll be introducing more innovative and comfort technology products, developing multi-platform marketing campaigns with our growing roster of ambassadors including recently announced Amanda Kloots, and rolling out more Skechers e-commerce sites around the world. We are finalizing plans to enter the metaverse, creating an entirely new opportunity for the Skechers brand. With our creativity, product, operational support and global reach, we expect 2022 to be another record year.”
To read more in-depth coverage on this story, please access the SGB Executive article here.
Photo courtesy Skechers
