Record sales in 2016 and good prospects for 2017: Skechers outperform thanks to China

2016 marked an unprecedented turnover for Skechers. In the fourth quarter, the US brand had revenues for $ 764.3 million (+ 5.8% over the same period of 2015), while the result for the full year marked a 3.56 billion dollars, which was more than 3,3 billion euro (+ 13.2% on 2015). The final push to overcome all the goals came from China. David Weinberg, COO and CFO company, commented: “The strong quarterly growth was mainly driven by the increase in 17.1% in the international wholesale. Our Chinese market grew by 48.5% while retail sales rose 13.9%. In January 2017 we can already count on an increase in sales.  We are well positioned to achieve another year. The only unfortunate record is “the 11.8% decrease in wholesale sales in the USA”. “We are number two for the athletic footwear compartment in the United States, and the number one for walking shoe, work and casual. We think that we will continue to increase our market share around the world while registering the strongest growth ever recorded for our international business ” said Robert Greenberg CEO of Skechers. At the end of 2016, Skechers had 2,012 stores around the world, with 500 retail stores in China, more than 60 in India, Mexico and Saudi Arabia, and over 50 in Australia, Malaysia, South Korea and Taiwan. The company-owned stores provide 27% of total revenues.

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