Skechers sees UK revival amid record results

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Skechers

Skechers has hailed a UK resurgence as it posts a double digit rise in sales and profits for its third quarter.

For the quarter ending September 30, net sales jumped 16.2 per cent to £835 million compared to a year prior, breaking previous records.

Gross profits saw a similarly significant jump of 21 per cent to £395 million alongside an earnings boost of 12.7 per cent to £88 million.

“The strong international growth, including the continued strength in China, the resurgence of the UK and growth across all of Europe combined with our strong international retail business, resulted in international wholesale and retail representing 53 per cent of our total sales in the third quarter,” chief operating and financial officer David Weinberg said.

Selling and administrative expenses both rose over the period by 32.1 per cent and 44.09 per cent respectively.

The footwear brand has predicted net sales in its next quarter of between £653 million and £672 million, and currently trades from 160 territories through 2438 stores.

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