The shoe manufacturer Skechers generated sales of $ 2.21 billion in the fourth quarter of the 2024 financial year, which corresponds to an increase of 12.8 percent in the previous year. The company thus almost reached the Wall Street estimates of $ 2.22 billion. The sales forecast for the first quarter of the 2025 financial year is $ 2.42 billion and thus remains 2.6 percent below the expectations of the analyst: inside.
The company’s wholesale sales increased by 17.5 percent in the fourth quarter, and 8.4 percent increased during direct sales sales. The diluted profit per share increased by 16.1 percent to 65 cents, but missed the 75 cents predicted by Yahoo Finance.
“The year ended with a strong Christmas business, which enabled a record sales of $ 2.21 billion in the fourth quarter,” said David Weinberg, Chief Operating Officer from Skechers. “Although there were still difficult market and shipping conditions in some countries, the strength of our business is due to our differentiated market positioning- an extremely attractive promise of values that combine comfort, innovation, style and quality at an affordable price.”
Sales rose by 12.1 percent in 2024
In the 2024 financial year, Skechers’ sales rose by $ 8.97 billion by $ 12.1 percent. Wholesale sales grew by 13.2 percent, while direct sales turnover increased by 10.7 percent. The diluted profit per share achieved $ 4.16, an increase of 19.2 percent.
CEO Robert Greenberg attributed the record year to the popularity of the comfort technology products and the strong implementation in all areas of the company. He was confident that growth will continue in the coming year.
“We are convinced that our strategic product, marketing and operating plans, which are implemented by our dedicated team, will lead to considerable success and further growth,” explained Greenberg.
With a view to the 2025 financial year, Skechers predicts sales between 9.70 and $ 9.80 billion and a diluted profit per share between 4.30 and $ 4.50.
This article was previously published on fashionunited.com and was used with digital tools translated.
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