Skechers shares sprinted higher as the trainer maker reported record quarterly sales.
Revenues were US$2.25 billion, well above forecasts and sending its shares up 7% in after-market trading in the US.
Net income soared 28% to US$206 million with earnings per share at US$1.33, gross margins of 52.5% and an operating margin of 13.3% and “all notable accomplishments” said David Weinberg chief operating officer.
“We saw growth of 17% in our direct-to-consumer segment and 10% in wholesale, as well as increases of 15% internationally and 8% domestically."
International sales accounted for 65% of the total, with Europe and EMEA sales up 17%, Asia Pacific up 16% and the Americas up 8%.
Skechers predicted sales to range from $2.175 billion to $2.225 billion in the second quarter with EPS of 85 cents to 90 cents.