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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