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Jun 30, 2020
Skechers Q2 2020 Earnings Report
Skechers announced financial results, which reflected the impact of the global pandemic, with sales decreasing and a diluted loss per share reported.
Key Takeaways
Skechers reported a challenging second quarter due to the COVID-19 pandemic, with sales down 42.0 percent to $729.5 million. The company experienced a diluted loss per share of $0.44. However, there were positive signs, including a 428.2 percent growth in company-owned e-commerce sales and an 11.5 percent increase in China sales. The company ended the quarter with $1.56 billion in cash, cash equivalents, and investments.
Sales decreased by 42.0 percent to $729.5 million due to the global pandemic.
Company-owned e-commerce sales grew by 428.2 percent.
China sales increased by 11.5 percent.
Diluted loss per share was $0.44.
Skechers
Skechers
Skechers Revenue by Segment
Revenue by Segment
Direct-to-Consumer Revenue
CapyFin.com Forward Guidance
The Company is not providing further financial guidance at this time given the ongoing business disruption and substantial uncertainty surrounding the impact of the pandemic on its business globally.