×
488
Fashion Jobs
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Koppal And Gadag
Permanent · Koppal
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Gadwal
Permanent · Gadwal
URBAN AVENUES LLP
Immediate Joiner in Real Estate Sales Executive/ Sales Manager
Permanent · Noida
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
OPPO
Area Sales Manager _Asm up East
Permanent · Jhansi
INDIA SHELTER FINANCE CORPORATION LIMITED
Area Branch Manager
Permanent · Chennai
JOB INDIA
Area Sales Manager- Operations (Garment Retails)
Permanent · Gurugram
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Merchandising Manager/Quality Manager - Garments Manufacturing Company
Permanent · Bhiwandi
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Officer Hrbp / Business HR For Garment/Textile/Apparel Industry
Permanent · Bengaluru
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Mumbai
Permanent · Bengaluru
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Rajahmundry
Permanent · Rajahmundry
ZYDUS WELLNESS
Zydus Wellness - Factory Manager - Sikkim Plant
Permanent · Atlanta
ANUSHÉ PIRANI
Social Media & Fashion Communications
Permanent · MUMBAI
HARSH CLEAN DHAN PVT. LTD
Area Sales Manager (Modern Trade Sales) For North East
Permanent · Guwahati
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
By
Reuters
Published
Feb 18, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Skechers posts Q4 loss on inventory woes

By
Reuters
Published
Feb 18, 2009


Skechers women spring-summer 2009

* Posts Q4 loss vs profit last year

* Inventory-related costs eat into margins

* Q4 loss $0.44/shr, narrower than Street by $0.03

* Expects to turn profitable in H2 of 2009

* Backs 2009 revenue forecast

Feb 18 (Reuters) - Skechers USA Inc (SKX.N) reported a fourth-quarter loss after the shoemaker was forced to take huge markdowns to manage excess inventory levels in a weak retail environment.

The company, which had recently forecast a loss in the fourth quarter and warned of a bleak 2009 after inventory-related costs ate into its margins, however, expects to return to profitability in the second half of 2009.

Skechers, whose rivals include Deckers Outdoor (DECK.O) and Timberland (TBL.N), has been hurt by a significant decline in comparable-store sales at U.S. retailers and a large number of retail bankruptcies and going-out-of-business sales.

Several apparel and footwear makers have been struggling with higher inventory levels as retailers facing a slump in sales and reduced consumer spending cut back on their advance orders.

Skechers, based in Manhattan Beach, California, reported a fourth-quarter net loss of $20.4 million, compared with a net profit of $12.1 million, a year earlier.

Net sales at the company, which offers shoes under its namesake label and brand names such as Mark Nason, 310 Motoring, and Red by Marc Ecko, fell slightly to $298.1 million from $302.0 million a year ago.

Skechers backed its 2009 revenue forecast of $1.2 billion to $1.3 billion and said it expects its gross margin percentage to return to its historic levels of over 40 percent later in the year.

The company's stock, which has lost most than 45 percent of its value year-to-date, closed at $6.92 Wednesday on the New York Stock Exchange.

For the alerts, please double-click. (Reporting by Dhanya Skariachan in Bangalore; Editing by Himani Sarkar)

© Thomson Reuters 2021 All rights reserved.