Skechers’ Q1 Sales Dips -2.7%

Skechers (USA) fared better than most brands during the first quarter of the year.

Sales for the quarter ending March 31 fell 2.7% to $1.24 billion, showing impressive resilience in the face of retail shut downs that began in February in China and were followed by lockdowns around the world.

During the quarter, gross margins fell from 46.2% to 44.1%.  However operating margins took a heavier hit falling from 13% in Q1 2019 to 3.6% this year.

NEWSWIRE

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