• Q3 sales up 0.5% to US$405.4m
  • Net earnings down 13.4% to $24.5m
  • Strong growth in retail and international

Footwear operator Skechers posted a 13.4% fall in third quarter profit, but saw sales edge back up thanks to strong performances in retail and international business.

Net sales in the three months to 30 September rose 0.5% to US$405.4m, sending net operating income up 31.1% to $32.4m.

However, net earnings fell 13.4% to $24.5m. For the first nine months of the fiscal year, net sales were down 8.3% to $1.048bn, and net earnings slumped 64.6% to $26.8m.

"Our improved performance was driven by sales growth in the high single digits in our international business and double-digit improvements in our retail channel," said Skechers COO David Weinberg.

"Our margins also improved meaningfully in the third quarter due to less close-outs and clean, in-line inventory."

Company CEO Robert Greenberg added that there had been an "exceptional" consumer reaction to the company's autumn products, both domestically and internationally.

"While the global economy continues to be a challenge, we are well-positioned from a product, marketing and execution perspective," he said.

Click here to view Skechers full results for the nine-month period.