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Record results at Skechers

Skechers sales for the year to 31 December jumped 11.5% year on year to a record $4.6bn (£3.6bn), driven by growth in retail, wholesale, international and its domestic US business.

International wholesale sales jumped 18.8% on 2017 while international retail sales were up 12%. Total international sales increased 19.2% compared to the prior year, while US sales were up 3.5%.

Gross margins improved 130 basis points driven by strength in its retail arm.

Operating profit was up 14.4% on last year and net profit hit $301m (£232.6m).

Robert Greenberg, chief executive officer of Skechers, said: “In 2018, our mindset was to seek new growth opportunities by comprehensively evaluating our domestic and international businesses while drilling down to specific regions and channels of distribution.

“These opportunities were across our product lines with proven styles, new designs and collaborations, and in select regions where we saw great potential. We also focused on growing our online business around the world—improving the functionality of our ecommerce sites in the United States and China, and launching an ecommerce platform in India, while also increasing our global retail footprint, ending 2018 with 2,998 Skechers Company-owned and third party-owned stores.”

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