Skechers USA, Inc. said it expects fourth quarter 2009 revenue will be in excess of $385 million compared to $298.1 million in the fourth quarter of the prior year. This represents an increase of over $87 million, or approximately 30% over the company's revenues for the prior year period. The company expects diluted net earnings per share for its fourth quarter 2009 will be in excess of 50 cents, compared with a net loss of 44 cents in the fourth quarter of 2008.


“Our record sales and profitability for the fourth quarter is a meaningful accomplishment, especially given the challenging retail environment,” said David Weinberg, Chief Operating Officer and Chief Financial Officer of SKECHERS. “In the first six months of 2009, we cleared through excess inventory, returning to profitability in the second half of 2009 with fresh product and new initiatives that were strongly received. The enthusiasm for our product and marketing continued in the fourth quarter, resulting in an exceptional end to the year.”


“Our intent in 2009 was to deliver fresh looks on signature SKECHERS styles while offering the consumer new, innovative product from a brand they have come to trust — all at a reasonable price, which is essential in these challenging economic times,” said Robert Greenberg, Chairman and Chief Executive Officer of SKECHERS. “We believe the approximately 30 percent increase in the quarterly revenue over the prior year in spite of the continued soft retail environment speaks to the success of our product initiatives and marketing efforts, and our solid brand reputation. We look forward to continuing to meet our customers’ needs and further building on our momentum in 2010.”


Weinberg continued: “We believe this record quarter combined with our record 2009 third quarter is a testament to the strength of our brand and an indication of the growing demand and momentum for our footwear. Key indicators, including our backlog and comp store sales, lead us to believe the strong demand for our footwear will continue in 2010.”