Skechers Reports Robust Q4 Earnings and Sales

Skechers Reports Robust Q4 Earnings and
A Skechers retail store.

Strong margins and tight expense controls helped Skechers USA Inc. achieve record sales and earnings during its fourth fiscal quarter.

For the period ended Dec. 31, the Manhattan Beach, Calif.-based company reported net earnings of $27.9 million, or 58 cents a diluted share, compared with a loss of $20.4 million, or 44 cents, a year ago. Sales during the quarter grew by more than 30 percent to $388.6 million, versus $298.1 million for the same period of 2008.

David Weinberg, COO and CFO, said in a statement that the company was looking to grow even further in the months ahead. “Our backlog is up 40 percent … over the prior year, combined domestic and international store comps increased 17.4 percent for the fourth quarter, and we are just completing five weeks of pre-lines with key accounts, which reacted very positively to our new product.”

For the company’s fiscal-year 2009, net earnings were $54.7 million, or $1.16 a share, compared with $55.4 million, or $1.19, in 2008. Sales were flat at $1.45 billion, versus $1.44 billion for the prior year.

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