The US shoe retailer Skechers USA Inc. was again able to increase its sales significantly in the 2022 financial year. Due to higher costs and special effects, however, the profit fell well short of the previous year’s level. This emerges from current figures that the company published on Thursday evening.
Accordingly, sales in the past year reached a new record of 7.44 billion US dollars (6.81 billion euros). Compared to 2021, this means an increase of 18.0 percent (currency-adjusted +22.6 percent). In the final quarter, revenues grew by 13.5 percent (currency-adjusted +19.1 percent) to 1.88 billion US dollars.
However, increased freight and logistics costs caused profits to fall. Operating income was $546.7 million, down 8.6 percent compared to 2021. Net income attributable to shareholders even shrank by 49.7 percent to 373.0 million US dollars (341.3 million euros), after the company had benefited from positive one-off tax effects in the previous year, among other things. Diluted earnings per share fell to $2.38 from $4.73.
For 2023, management expects another sales record: Revenues in the range of 7.75 to 8.0 billion US dollars are forecast. Diluted earnings per share are expected to increase to between $2.80 and $3.00.