Skechers U.S.A., Inc. announced record first-quarter sales of $2.41 billion for the period ended March 31, 2025, representing a 7.1% increase year-over-year. This growth was driven by strong global demand across both wholesale and direct-to-consumer segments, with international sales accounting for 65% of the business.
Despite the strong sales performance, the company made the strategic decision to withdraw its full-year 2025 guidance, which had been provided on February 6, 2025. This withdrawal was attributed to macroeconomic uncertainty stemming from global trade policies, particularly new U.S. tariffs on goods from China.
Diluted earnings per share for the quarter were $1.34, compared to $1.33 in the prior year, including a favorable foreign currency exchange rate impact of $0.17 per share. However, operating earnings decreased by 11.3% to $265.1 million, and the gross margin declined by 50 basis points to 52.0% due to lower average selling prices.
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