Skechers has reported record sales of $1.259 billion in Q2 2019, up 10.9% from the prior-year period – progress which set the California-based footwear company up for a comfortable earnings beat after a disappointing Q1.
U.S. footwear firm Skechers Inc. saw double-digit sales growth in the first quarter of 2018. However, a softer current-quarter sales guidance saw shares tumble late Thursday afternoon, after a stellar 2017 stock.
Skechers exceeded second quarter expectations, recording over $1 billion in sales in the period. The company projects that its record performances will continue into the latter half of its fiscal year.
Skechers achieved new third quarter and nine-month sales records as well as the second highest sales quarter in its history. The footwear company's international business offset the soft US wholesale business.