Skechers Q1 2023 Earnings Report
Key Takeaways
Skechers announced record quarterly sales of $2.00 billion, representing a 10.0% increase compared to the previous year. The company's Direct-to-Consumer sales grew by 24.5%. Diluted earnings per share were reported at $1.02.
Record quarterly sales of $2.00 billion, a year-over-year increase of 10.0%.
Direct-to-Consumer sales grew 24.5%.
Inventory decreased by $315.8 million or 17.4% from December 31, 2022.
Diluted earnings per share of $1.02.
Skechers
Skechers
Skechers Revenue by Segment
Forward Guidance
For the second quarter of 2023, the Company believes it will achieve sales between $1.85 billion and $1.90 billion and diluted earnings per share of between $0.40 and $0.50. Further, the Company believes that for the fiscal year 2023, it will achieve sales between $7.9 billion and $8.1 billion and diluted earnings per share of between $3.00 and $3.20.