The US shoe manufacturer Skechers USA Inc. remains on a growth path. In the third quarter of the 2023 financial year, the company was able to further increase its sales and profits. This emerges from an interim report that was published on Thursday evening.
Accordingly, sales in the three months before September 30th amounted to 2.02 billion US dollars (1.92 billion euros), reaching a new record level in the company’s history. Compared to the same quarter last year, revenue grew by 7.8 percent.
The shoe supplier owed the increase to its own retail, whose sales increased by 23.8 percent to 850.4 million US dollars. In the wholesale business, revenues were 1.17 billion US dollars, slightly below the corresponding previous year’s level (-1.4 percent). In the USA, total sales rose by 6.5 percent to 794.6 million US dollars; in international business they grew by 8.6 percent to 1.23 billion US dollars.
Higher sales prices, the increased share of sales from high-margin own retail and lower freight costs contributed to operating profit increasing by 64.0 percent to $213.2 million. The net profit attributable to the shareholders even jumped by 69.3 percent to 145.4 million US dollars (137.6 million euros).
In the first nine months, consolidated sales amounted to 6.04 billion US dollars and exceeded the corresponding previous year’s level by 8.5 percent. Net income attributable to shareholders grew 54.2 percent to $458.6 million.