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Tuesday, April 16, 2024
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Skechers Q2 Sales Jump to $1.66B

Skechers/Design: Alex Brooks

Skechers is coming out of its pandemic woes. The performance footwear company released second-quarter results, reporting $137.4 million in net earnings compared to the $68.1 million it lost during the same quarter last year.

Quarterly sales rose 127% year-over-year to $1.66 billion, a new record for the brand.

Despite delayed shipments and temporary store closures, Skechers capitalized on its athletic partnerships to fuel growth.

  • Last month, Skechers became the official supplier of the European and U.S. Solheim Cup teams. It also added German soccer pro Michael Ballack to its roster.
  • Brooke Henderson earned her 10th career pro victory in April wearing Skechers GO GOLF footwear. She’s been a Skechers athlete since 2016.
  • Skechers ran a Super Bowl ad with Tony Romo, its eighth spot for the big game.
  • In January, Las Vegas Raiders coach Jon Gruden joined Team Skechers, as well.

Earlier this week, Matt Powell, senior sports industry adviser for the NPD Group, tweeted that Nike and adidas “ceded share in women’s sport footwear to Skechers,” among other brands.

Skechers expects full-year 2021 sales to reach up to $6.25 billion.

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