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Mar 31, 2025
Skechers Q1 2025 Earnings Report
Skechers posted record quarterly sales and modest EPS growth in Q1 2025.
Key Takeaways
Skechers reported strong Q1 2025 results with record revenue of $2.41 billion driven by growth in both wholesale and direct-to-consumer channels, particularly in EMEA. Despite a slight decline in net income and operating income, the brand saw robust international demand and continued investment in innovation and marketing.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Skechers withdrew its full-year 2025 guidance due to macroeconomic uncertainty, particularly global trade policy risks.
Positive Outlook
- Record quarterly revenue achieved
- Strong growth in EMEA and Americas regions
- Continued investment in innovation and comfort technology
- Broad global marketing campaigns gaining traction
- Positive performance excluding China within APAC
Challenges Ahead
- Sales decline in China by 15.9%
- Operating income down 11.3% YoY
- Gross margin declined by 50 basis points
- Higher operating expenses driven by marketing and admin costs
- Increased effective tax rate due to new global tax regulations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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