Skechers projects its sales for the fiscal year 2024 will range between $8.875 billion and $8.975 billion.

The brand achieved record-breaking results during Q2, FY24 with sales rising by 7.2 per cent to reach $2.16 billion. It attributes this growth to a strong performance across all markets and channels, including a 7.7 per cent increase in domestic sales and a 6.9 per cent rise in international markets. Despite sales declining by 2.6 per cent decline in the APAC region, a 10.3 per cent gain in the Americas and a 3.9 per cent rise in the EMEA contributed to a 5.5 per cent growth in wholesale sales. The brand’s direct-to-consumer sales rose by 9.2 per cent, driven by a 40.6 per cent increase in EMEA, a 4.1 per cent expansion in the Americas, and a 5.8 per cent uptick in APAC.

The brand’s net earnings for the quarter declined to $140.3 million, compared to $152.8 million in the same period last year. John Vandemore, Chief Financial Officer, notes, the robust sales growth achieved by the company' despite significant operational and foreign exchange challenges, underscoreits position as a leader in comfort technology. It also encourages the company to raise its full-year guidance, adds Vandemore.