Skechers' global sales reaches $8.97 billion in 2024

The American sports and leisure brand Skechers has released its annual report for 2024. The global annual sales amounted to $8.97 billion, a year-on-year increase of 12.1%, setting a new historical record. The net profit attributable to the parent company was $640 million, up 17.2% year-on-year, and the gross profit margin increased by 1.2 percentage points to 53.2%.

In the fourth quarter of 2024, Skechers' sales were $2.21 billion, a year-on-year increase of 12.8%, also setting a new historical high for the same period. The net profit attributable to the parent company was $99 million, up 13.9% year-on-year.

Chen Weili, partner of Skechers China, as well as CEO of Skechers China, South Korea, and Southeast Asia, stated that Skechers is continuing to strengthen its presence in China. The first phase of the Skechers China Logistics Center Phase II, with an investment of over 3 billion, has officially topped out, and "Made in China" products now account for over 90% of Skechers' sales in China. Chen believes that China will be a key driver in achieving Skechers' $10 billion sales target by 2026.

Skechers' outlook for fiscal year 2025 indicates that sales are expected to be $9.7-9.8 billion, with first-quarter sales projected to be between $2.4-2.43 billion. The total capital expenditure of 2024 is expected to be $600-700 million, which includes investments to expand distribution centers in the U.S. and China to support future growth.