Skechers Announced $1 billion Share Buyback Program
Leading footwear and The Comfort Technology company Skechers announced $1 billion share buyback and a new sales record of $2.16 billion in the second quarter, attributed to high demand for their range of comfortable and innovative footwear.
David Weinberg, Skechers' Chief Operating Officer, highlighted that the growth stemmed from increases of 9% in Direct-to-Consumer sales, 6% in Wholesale, 7% internationally, and 8% domestically. Growth was seen across all regions, with notable increases in the Americas (7%), Europe, the Middle East, and Africa (14%), and Asia Pacific (2%). Particularly strong performances were noted in international direct-to-consumer and domestic wholesale segments, which saw respective growth rates of 15% and 14%. Despite challenges like foreign currency fluctuati...