Skechers announces record fourth-quarter, annual sales

By

Jennifer Braun

Published
Feb 4, 2022

American lifestyle and performance footwear retailer Skechers U.S.A., Inc. announced a new full year sales milestone of $6.29 billion on Thursday, representing a record high. 

Full-year sales at the Manhattan Beach, California-based company increased 36.7 percent, reflecting a 33.4 percent increase in domestic sales and a 39 percent increase in international sales. 

Sales grew across all segments, as the impact of Covid-19 continued to ease. Direct-to-consumer recorded the largest increase of 50.2 percent, while it recorded increases to domestic wholesale of 27.6 percent and international wholesale of 34 percent. Full-year net earnings at Skechers were $741.5 million and diluted earnings per share were $4.73. 

Likewise, fourth-quarter sales increased 24.4 percent, reaching $1.65 billion. The jump was a result of a 9.8 percent increase in domestic sales and a 34 percent increase in international sales. 

Sales equally grew across all segments with increases to domestic wholesale of 4.6 percent, international wholesale of 30.1 percent, and direct-to-consumer of 30.3 percent. The company reported net earnings $402.4 million, up 655% compared to the same period a year-prior.

“We believe our accomplishments in 2021, including several comfort-focused new product launches and the further expansion of our global footprint, position Skechers for continued growth toward our goal of $10 billion in sales,” said Robert Greenberg, chief executive officer of Skechers

“In 2022, we’ll be introducing more innovative and comfort technology product, developing multi-platform marketing campaigns with our growing roster of ambassadors including recently announced Amanda Kloots, and rolling out more Skechers e-commerce sites around the world. We are finalizing plans to enter the metaverse, creating an entirely new opportunity for the Skechers brand. With our creativity, product, operational support and global reach, we expect 2022 to be another record year.”

Looking ahead, for the first quarter of 2022, the company believes it will achieve sales between $1.675 billion and $1.725 billion and diluted earnings per share of between $0.70 and $0.75. 
Meanwhile, for the fiscal year 2022, it expects to achieve sales between $7 billion and $7.2 billion and diluted earnings per share of between $2.70 and $2.90.

Skechers currently boasts 3,891 stores around the world, including 523 domestic locations, 331 international stores, 467 joint venture stores, and 2,570 distributor, licensee and franchise stores.