Skechers USA Inc

Skechers had a decent third-quarter performance, surpassing expectations with a significant quarterly sale of $2.025 billion. They achieved an 8% year-over-year increase in sales, driven by a 9% rise in international sales, constituting 61% of total sales. The Direct-to-Consumer segment saw a remarkable 24% growth, with international sales increasing by 33%. Despite a 1% decline in Wholesale sales, domestic wholesale performed better than expected, showcasing flat results year-over-year. Skechers continued its positive momentum by expanding its product portfolio and solidifying its position in the global footwear market. The collaboration with Snoop Dogg yielded three capsules released across North America, Europe, and key markets, creating substantial media buzz and broadening the brand’s reach among the legendary entertainer’s fanbase. This collaboration, coupled with partnerships with Martha Stewart and the Rolling Stones, significantly heightened brand awareness and consumer engagement. Further diversification occurred with the introduction of Skechers Football, endorsed by Harry Kane, the star striker for Bayern Munich and captain of the England national football team. With a focus on long-term growth, Skechers continued its global retail expansion by opening 72 company-owned stores, emphasizing strategic locations in China, the United States, and various international markets. The Direct-to-Consumer segment, representing 42% of total sales, remains a pivotal driver of Skechers’ growth strategy.