Skechers First Quarter Sales To Achieve Two Digit Growth

According to the world clothing shoes and hats net, American leisure sports brand

(Cage) released the key financial data in the first quarter of fiscal year 2018, sales achieved two digit growth, set a new record in the single quarter sales history.

In the first quarter ended March 31, 2018, the key financial data of Skechers are as follows:

Sales grew by 16.5% to $1 billion 250 million.

Operating profit increased 19.6% to $148 million 800 thousand compared to the same period last year.

Net profit increased 25.2% to $117 million 700 thousand compared to the previous year, and the earnings per diluted share were 75 cents.

Sales of wholesale channels in the international market increased by 17.9%.

Wholesale and retail channels account for 54% of total sales.

Local wholesale channel sales increased by 8.5%.

The company has a 26.4% increase in global retail sales, and the global comparable store sales increased by 9.5%.

Looking ahead, Skechers warning, some important international retailers and US customers will shift shipments to the second half of this year, thereby affecting the second quarter sales.

Skechers expects its second quarter sales to be between $1 billion 120 million and $1 billion 145 million, after a diluted earnings of 38 cents to 43 cents per share.

However, according to Factset's data, analysts and investors expect that Skechers's sales in the second quarter will be about $1 billion 150 million, and its earnings per diluted share will be 55 cents.

In 2017, the stock price of Skechers increased double digits.

But Friday's share price fell by 27% after Friday's weaker second quarter forecast after Thursday's announcement.

From the trend of stock price and global income, Skechers performed very successfully last year.

Skechers 2017 year-on-year sales increased 16.9% to 4 billion 160 million US dollars, an increase of 600 million US dollars over the previous fiscal year.

Skechers CEO Robert Greenberg has shown a positive attitude towards the latest quarterly results. He said: "our men Skechers Sport, madam.

As well as men and women's On-Go products continue to be successful.

As our products for men, women and children grow year on year and resonate with global consumers, we believe that our time is coming.

Skechers also said its European distribution center had a record high shipments.

In addition, international business is currently the most developed business of the company.

Skechers's chief operating officer, David Weinberg, said: "our international subsidiaries and joint ventures are driving our growth, both of which grew by 25.7% year-on-year.

At present, there are 2197 outlets in the overseas direct or third party authorized Skechers stores, accounting for 54% of the total business volume. We still regard the international market as our biggest growth opportunity.

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