Lifestyle footwear firm Skechers USA Inc today issued a statement saying it expects third quarter revenues to be lower than forecast, as weak domestic retail sales and a soft back-to-school season take their toll on its August results. 

The company now estimates reporting third quarter diluted earnings per share in the range of $0.30 - $0.35, compared to $0.30 in the third quarter of the prior year and versus the current third quarter First Call consensus estimate of $0.41. Revenues are likely to be in the range of $245-255 million, compared to $287.9 million in the third quarter of last year.

Michael Greenberg, president of Skechers USA, said: "While the current environment remains challenging, we believe that the constant evolution in our product and distribution strategies, as well as our unique ability to interpret footwear trends at affordable price points positions us for long-term sales and earnings growth."