Stepping it Up - Report on Skechers USA Inc.

Aug 07, 2015, 09:25 ET from www.aciassociation.com

NEW YORK, August 7, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Skechers USA Inc. (NYSE: SKX). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=SKX

Highlights from our SKX Report include:

  • Second quarter record show - On July 29, 2015, Skechers USA Inc. announced its financial results for second quarter 2015. Net sales for the quarter were a record $800.5 million as compared to $587.1 million reported by the Company in Q2 2014, thereby clocking a growth of over 36% YoY. The Company's gross profit was $374.6 million versus $269.4 million reported in the previous year same quarter.
  • First six months results - For the first six months of 2015, the Company recorded net sales of $1.57 billion as against net sales figure of $1.13 billion reported for the first six months of 2014. The Company improved its gross margins by 10 bps to report a gross profit of $707.1 million vis-à-vis $509.8 million reported in the first six months of 2014. Skechers also reported earnings from operations of $200.5 million versus $101.9 million it had reported in the first six months of 2014.
  • Management Speaks - David Weinberg, the COO and CFO of the Company, acknowledged the record financial results for the second quarter for Skechers and attributed it to continued strong demand for its products worldwide. He added that the growth was driven by double-digit increases in the Company's three main business channels, domestic wholesale where the Company witnessed an average price per pair increase of 9.0%, international wholesale, which included 665 third-party-owned Skechers retail stores and Company-owned Skechers domestic and international retail stores with a total comp store sales increase of 12.9% for the quarter.

To find out how this influences our rating on Skechers USA Inc. read the full report in its entirety here: http://www.aciassociation.com/?c=SKX

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