Footwear brand and retailer SKECHERS reported Q2 2014 net sales of $587 million, the highest quarterly revenues in its 22-year history and a 37% improvement over the previous year.
“The strong sales are attributable to fresh styles across our lifestyle, performance and kids’ categories, and the demand for our product resulted in a positive shift of our back-to-school domestic wholesale and international subsidiary shipments originally scheduled for July into June,” said David Weinberg, Chief Operating Office and Chief Financial Officer, during the call. “We achieved double-digit increases in our domestic wholesale business, which included a four percent increase in average price per pair; double-digit increases in our international wholesale business, with some markets up triple digits.”
During the company’s Q2 2014 earnings call, executives revealed that gross profit for the quarter was 45.9% of net sales, or $269 million. This is a slight increase from the same period in 2013, where gross profit was $195 million, or 45.5% of net sales.
Weinberg noted that SKECHERS also saw double-digit growth in company-owned stores and achieved a 13.9% increase in comparable net sales between Q2 2013 and Q2 2014.