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EX - 99.1 2 skx - ex991 20.htm EX - 99.1 Investor Relations : Press : First Quarter Highlights Andrew Greenebaum Addo Investor Relations investors@skx.com SKECHERS ANNOUNCES RECORD FIRST QUARTER 2021 FINANCIAL RESULTS Jennifer Clay Vice President , Corporate Communications SKECHERS U.S.A. , Inc. ( 310 ) 318-3100 LOS ANGELES , CA. - April 22 , 2021 - SKECHERS U.S.A. , Inc. ( " Skechers " or the " Company " ) ( NYSE : SKX ) , a global footwear leader , today announced financial results for the first quarter ended March 31 , 2021 . Direct - to - Consumer sales grew 18.1 % Diluted earnings per share were $ 0.63 Cash , cash equivalents and investments were $ 1.51 billion Sales of $ 1.43 billion , an increase of 15.0 % and quarterly record International Wholesale sales grew 23.8 % Exhibit 99.1 " Skechers new sales record in the first quarter is a remarkable achievement , especially given the lockdown measures in many key countries , including across Europe , " began Robert Greenberg , Chief Executive Officer of Skechers . " This significant growth is the result of continued demand for Skechers product as consumers desire comfort and quality in their footwear and walking remains a top COVID - 19 pandemic activity . With warmer weather and increased vaccination rates around the world , traffic is improving in many of our retail stores , and our digital business continues to be a very strong growth driver . In the first quarter , we increased our marketing efforts in the United States and supported many open international markets , including the airing of new campaigns with football coach , Jon Gruden and sports analyst , Howie Long both for Arch Fit shoes , and a Super Bowl spot with commentator , Tony Romo , for Max Cushioning footwear . In addition , we ran Brooke Burke Arch Fit and Skechers apparel commercials , and multiple campaigns , on traditional and digital platforms . As a comfort technology company , Skechers received several product awards for our sport , running and golf shoes , and we were named Company of the Year from leading industry trade publication Footwear Plus . Despite the ongoing challenges related to the pandemic , we are pleased with our exceptional start to 2021 and believe our growth is a testament to our execution and the relevance of the Skechers brand . " " The momentum we experienced in the second half of 2020 continued into the first quarter as we achieved revenue growth of 15.0 % over the same period in 2020 , and an exceptional 12 % increase over the first quarter of 2019. This resulted in the Company's first quarterly sales of over $ 1.4 billion , " stated David Weinberg , Chief Operating Officer of Skechers . " The positive results were due to a 20.2 % increase in our international business and an 8.5 % increase in domestic sales compared to 2020. Driving the quarterly growth was a 23.8 % increase in our International Wholesale , led by triple - digit growth in China , an 18.1 % improvement in our direct - to - consumer business , with March being the strongest sales month , and a 143.0 % increase in domestic e - commerce . Domestic Wholesale decreased 0.9 % due to timing of shipments . Nonetheless , we saw strength across customer types and encouraging