US: Diversification boosts Skechers Q4 profit
- Q4 net profit US$14.2m, up from $4m
- Q4 sales up 13.9% to $450.7m
- Gross margin 44.5%, versus 42.6%
Footwear business Skechers USA recorded a stronger fourth quarter profit, boosted by a double-digit revenue hike and more robust gross margins.
For the full year, the US company’s revenues rose 18.3% to $1.846bn, with gross margins rising from 43.8% to 44.4% and net profit hitting $54.8m, up from $9.5m in 2012.
Company CEO Robert Greenberg said Skechers’ “more diversified product approach resulted in strong sales across our distribution channels”.
He added: “We weathered the unseasonably cold winter in the Midwest and Northeast thanks to one of our strongest boot collections, and the unseasonably warm weather in the West thanks to one of our strongest sport collections.”
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