Skechers U.S.A.: Does The Recovery In Wholesale Orderbook Warrant A Bullish Thesis?

Skechers ended the 2023 fiscal year on a high note, reaching an annual sales record of $8 billion, a $556 million increase compared to the prior year. This milestone was the result of four quarterly sales records, including $1.96 billion for the fourth quarter. The company also achieved an annual gross margin record of 51.9%. One driver of these results was the robust worldwide demand for Skechers footwear products. Other contributing factors included innovative marketing initiatives, a growing customer base, strong partnerships, and the tireless effort of the company’s team worldwide.