Skechers Q3 revenues increase 7.5 percent

American shoe maker Skechers said on Thursday that its Q3 revenue for 2018 increased 7.5 percent. Profit dropped by 1.7 percent from the same period last year.

The company’s sales in Q3 2018 were 1,17 billion US dollars, up from 1,09 billion US dollars a year earlier, while net earnings declined to 90.7 million US dollars. The profit margin of the company slid to 7.7 percent compared to 8.4 percent a year ago.

For the fourth quarter of 2018, the company expects to achieve sales in the range of 1.100 billion US dollars to 1.125 billion US dollars, and diluted earnings per share of 0.20 US dollar to 0.25 US dollar.

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, the company's product range has grown to over 3000 styles for women, children and performance.

Offering lifestyle and athletic footwear, the New York-listed company has over 11,000 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:Skechers corporate website