US: Skechers returns to profit despite Q1 sales decline
By just-style.com | 30 April 2009
Footwear company Skechers USA returned to profit in the first quarter after a fourth quarter loss, but registered a 10.8% decline in sales.
The company's first quarter profit plunged 75% to US$8.2m, with net sales falling to $343.5m.
Gross profit declined 27.2% to $125.4m.
Skechers COO David Weinberg said the company's focus had been on reducing inventory and expenses, while maintaining its market position.
The aim, he added, was to improve in the second half of the year.
"We have made significant improvements in our inventory, shown growth in several key international markets, and had a profitable quarter," he said.
Companies: Skechers
View next/previous articles
30 Apr 2009 -
Currently reading -
US: Skechers returns to profit despite Q1 sales decline
30 Apr 2009 -
30 Apr 2009 -
Related articles
There are currently no comments on this article
Be the first to comment on this article