Skechers posts marginal drop in Q4 sales

Fourth quarter sales at Skechers U.S.A. Inc. decreased 0.5 percent as a result of a 2.8 percent decrease in the company’s domestic sales partially offset by a 1.1 percent increase internationally. Domestic declines were driven by lower retail sales partially offset by growth of 142.7 percent in e-commerce and growth in the wholesale channel. Fourth quarter earnings from operations decreased 36.4 million dollars or 38.7 percent to 57.7 million dollars, while net earnings were 53.3 million dollars and diluted earnings per share were 34 cents.