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Skechers posts record Q1 results

Footwear brand Skechers saw earnings rise 37.4% to $32.8 million (£16.5m) for the first quarter of 2008, setting a new company record.

Sales rose 11.6% to $384.9m (£194.7m). The record performance was driven primarily by strong international sales of the brand.

Skechers chief operating officer David Weinberg said: "Our first quarter sales of $384.9m represent a new first quarter record and the second highest quarter in the company's history. The record revenue and earnings were primarily the result of growth across our international wholesale and retail businesses. Our domestic wholesale, retail and ecommerce divisions also grew year over year in spite of negative comp store sales experienced by our retail stores. We are particularly gratified with our strong and broad-based improvement given the challenging US retail environment."

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