Loading...
•
Sep 30, 2020
Skechers Q3 2020 Earnings Report
Skechers' Q3 2020 financial results were announced, revealing a sales decrease of 3.9% year-over-year but a significant increase from the previous quarter, driven by growth in domestic wholesale and China sales.
Key Takeaways
Skechers reported Q3 2020 sales of $1.30 billion, a 3.9% decrease year-over-year, but a 78.3% increase from Q2 2020. Diluted earnings per share were $0.41, and adjusted diluted earnings per share were $0.53. The domestic wholesale business grew by 6.3%, and China sales increased by 23.9%. Cash, cash equivalents, and investments totaled $1.50 billion at quarter-end.
Total sales reached $1.30 billion, a 3.9 percent decrease year-over-year, but a 78.3 percent increase from second quarter 2020.
Domestic wholesale business experienced growth of 6.3 percent year-over-year.
Diluted earnings per share (EPS) stood at $0.41, with adjusted diluted EPS at $0.53.
Sales in China demonstrated strong growth, increasing by 23.9 percent year-over-year.
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.