Skechers steps it up a notch

By

Sarah Ahssen

Published
Aug 21, 2013

For the first six months of fiscal year 2013, Skechers saw its sales increase nearly 20% to $879 million (656 million euros) with net earnings of $13.8 million (10.3 million euros), compared to a net loss of $5.4 million (4 million euros) in the same period last year. Robert Greenberg, chief executive officer of Skechers, attributed this strong performance to the successful diversification of the company's product lines.

For the second quarter ended June 30, American footwear brand Skechers announced net sales up by 11.5% to $428.2 million (319 million euros). The American footwear group indicated it had experienced double-digit growth throughout its wholesale and retail networks, both internationally and domestically. Net earnings were $7.1 million (5.3 million euros) compared to a net loss of $1.8 million (1.3 million euros) for the same period last year.