Footwear company Skechers has reported record growth in Q1 2025, with sales rising by 7% to $2.41 billion.
The company also saw an 8% increase in wholesale growth while direct-to-consumer sales went up by 6% to $49.5 million. Additionally, DTC volume went up by 6.3%.
However, moving forward, the company is bracing itself for the impact of additional tariffs and has pulled back its guidance because of a changing macroeconomic backdrop and economic uncertainty.
John Vandemore, Chief Financial Officer (CFO) at Skechers said, “Our first quarter results reflect the continued strength of our business across the globe, a testament to our brand, the appeal of our innovative comfort technologies and distinctive value offering across our product portfolio.
“We remain confident in our ability to navigate the current market challenges, and know that our proven track record of managing this globally diverse brand with a unique and compelling product portfolio focused on delivering style, comfort, quality, and innovation at a reasonable price will enable Skechers to endure and likely thrive during this time.”
However, sales in the Asia-Pacific region fell by 3%, with sales plunging by 16% in China.
Despite the decline in sales, company plans to continue its investments in China and the Asia region due to the potential growth opportunities it provides, according to the CEO, David Weinberg.
The footwear giant joins the growing list of retailers bracing for the economic impact of additional tariffs which have been recently implemented.
Skechers is a California-based global footwear brand with over 5300 retail outlets in 18 different countries.
Click here to sign up to Retail Gazette‘s free daily email newsletter
