Skechers (SKX, Financial) reported a first-quarter revenue of $2.41 billion, slightly below the consensus estimate of $2.43 billion. Despite the minor shortfall, the company achieved record quarterly sales, driven by robust global demand in both its wholesale and direct-to-consumer segments.
International sales accounted for 65% of Skechers' business, with notable performance in various regions. Sales in the Europe, Middle East, and Africa (EMEA) region rose by 14%, while the Americas saw an 8% increase. In the Asia-Pacific (APAC) area, sales declined by 3%; however, excluding China, there was a 12% growth. The company views China as a significant growth opportunity and plans ongoing investments in product development, marketing, and infrastructure to strengthen its presence there.
Skechers emphasizes an extensive range of comfort technology products offered at competitive prices and distributed through multiple channels. The company's strategy involves continued innovation in lifestyle collections, expanding its high-performance footwear lineup, and boosting brand demand to sustain global growth.
