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EX - 99.1 2 skx - ex991 6.htm EX - 99.1 Investor Relations : Press : ● ● Andrew Greenebaum Addo Investor Relations investors@skx.com SKECHERS ANNOUNCES RECORD SECOND QUARTER 2021 SALES OF $ 1.66 BILLION AND DILUTED EARNINGS PER SHARE OF $ 0.88 Jennifer Clay Vice President , Corporate Communications SKECHERS U.S.A. , Inc. ( 310 ) 318-3100 LOS ANGELES , CA. - July 22 , 2021 - SKECHERS U.S.A. , Inc. ( " Skechers " or the " Company " ) ( NYSE : SKX ) , The Comfort Technology CompanyTM and a global footwear leader , today announced financial results for the second quarter ended June 30 , 2021 . Exhibit 99.1 Second Quarter Highlights Record quarterly sales of $ 1.66 billion , an increase of 127.3 % year - over - year , and 31.7 % over the second quarter of 2019 Domestic Wholesale sales grew 205.7 % Direct - to - Consumer sales grew 137.8 % Record quarterly diluted earnings per share of $ 0.88 Fully repaid $ 452.5 million revolving credit facility " Skechers second quarter financial results exceeded expectations as we achieved record quarterly sales of over $ 1.6 billion , a 127.3 % increase over the same period in 2020 , and 31.7 % increase over 2019 , " stated David Weinberg , Chief Operating Officer of Skechers . " This growth , along with both record gross margin of 51.2 % and record quarterly diluted earnings per share of $ 0.88 , was the result of triple - digit improvements in both our domestic and international businesses compared to second quarter 2020 , and over 30 % as compared to the second quarter of 2019. We accomplished these financial results even as we continued to face COVID - 19 related challenges including delayed shipments and port constraints as well as temporary store closures in some key markets , including India , Canada , and parts of Europe and South America . With a higher average selling price and significantly more units sold , we saw sales increases of 205.7 % in Domestic Wholesale , 137.8 % in Direct - to - Consumer , and 94.8 % in International Wholesale over the second quarter of 2020. As consumers began returning to a more normal lifestyle in many markets , demand increased for our comfort technology products , including in North America , across Europe , and in China , which achieved double - digit gains over both 2020 and 2019. Looking to the remainder of the year and into the next year , we remain confident in the strength of our brand and the relevance of our distinct product offering . " " Innovation and developing footwear technology has been a significant part of Skechers ' DNA for much of our history - from our durable occupational footwear made to last , to the lightweight cushioning and performance materials for our first generation Skechers GO RUN and Skechers GO WALK lines , to features that deliver comfort in every pair . Other features and products like our Skechers Air - Cooled Memory Foam Technology and more recently our growing recycled collection called Our Planet Matters exemplify this , " began Robert Greenberg , Chief Executive Officer of Skechers . " Our core product philosophy of comfort , style , innovation and quality at the right price has resonated with consumers during the pandemic , and as we emerge from it . Consumers are embracing a