Manhattan Beach, California — US-based footwear company, Skechers announced net sales of $2 bn, gross profit of $964 m and earnings from operations of $210 m in the first half of 2017.
The company, which was founded in 25 years ago in May selling a single line of men’s boots available only in the US, said it has made record sales in the half-year.
Robert Greenberg, Skechers CEO said: ‘We believe that record sales experienced in the first six months will continue in the second-half.’ The company expects to achieve record net sales in the third-quarter which will be driven by double-digit increases in its international wholesale business and its global company-owned retail stores.
In the quarter ending 30 June 2017 sales were $1 bn compared to $877 m in the equivalent quarter in 2016. However, earnings from operations were hit by higher general and administrative costs at the company and fell from $100 m to $86 million. In the first quarter of 2017, the firm recorded its first billion dollar quarter in the first quarter of this year.