Skechers reports Q1 EPS $1.34, consensus $1.17

Reports Q1 revenue $2.41B, consensus $2.43B. “For the first quarter, we delivered record quarterly sales of $2.41 billion, reflecting strong global demand across both our wholesale and direct-to-consumer segments with international sales representing 65% of our business,” Robert Greenberg, COO, said. “Sales by region increased 14% in EMEA and 8% in the Americas. In APAC, sales decreased 3%; however, when excluding China, sales increased 12%. We believe Skechers (SKX) has significant growth opportunities in China, and we will continue to invest in product, marketing and infrastructure to expand and support our presence. At the core of our success is our diverse offering of comfort technology products available at accessible prices across a variety of distribution channels. We remain focused on innovation within our established and successful lifestyle collections, growing our high-performance footwear offering, and investing in brand demand creation as we continue to drive future growth globally.”