Skechers Q2 profits fall 23.9 percent

American shoe maker Skechers said on Thursday its Q2 net profit for 2018 fell by 23.9 percent, while revenues increased by 10.6 percent from the same period last year.

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The company’s net profit for Q2 2018 was 45.3 million US dollars, down from 59.5 million US dollars a year earlier. Revenues rose to 1,134.8 million US dollars. The profit margin of the company slid to 4 percent compared to 5.8 percent a year ago.

Skechers USA, Inc was founded in 1992 by Robert Greenberg and is based in Manhattan Beach, California, United States. From a logger boot for men as first shoe in 1992, Skechers' product range has grown to over 3000 styles for women, children and performance.

Offering lifestyle and athletic footwear, the New York-listed company has 11,800 employees worldwide and operates more than 2600 stores.

For more recent news on the business, collections and executive changes of Skechers USA, Inc, click here.

Picture:Facebook/Skechers