Skechers Q3 net sales up 10 percent, earnings drop

Quarterly net sales rose 10.1 percent to 942.4 million dollars compared to third quarter 2015. Skechers said, the increase was the result of an 18.3 percent increase in the company’s international wholesale business and a 16 percent increase in its company-owned global retail business with total comp store sales increases of 3.2 percent. Net earnings decreased 2.2 percent to 65.1 million dollars, while diluted net earnings per share were 0.42 dollar, compared with 0.43 dollar in the prior year.