Skechers well and truly in the race

Skechers, the U.S. footwear brand, saw its sales increase 18 percent to roughly $1.85 billion in 2013 compared with the previous year. Net income soared from $9.5 million in the previous year to $54.8 million. In the fourth quarter which ended on Dec. 31st, revenues jumped 14 percent to $450.7 million, while net income was up from just under $4.0 million in the same period last year to $14.2 million . One of the main reasons for this growth was the development of their sports shoes, especially their active women’s line which prompted three digit sales growth last year. Skechers is also keen to expend its international trade. Its international sales were up 6 percent overall, with a 16 percent gain for its own subsidiaries and joint ventures, but there was a drop of 12 percent for distributors in the fourth quarter. Throughout the current year, Skechers intends to open between 70 and 80 stores plus 130-140 franchise operations.

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