Skechers USA (Manhattan Beach, Calif.), footwear manufacturer and retailer, has announced that it expects its first quarter 2002 earnings to exceed analysts'estimates by at least 25 percent.
The company, which also said it expects sales for the quarter to exceed $235 million, will announce the results some time in April.
Company president Michael Greenberg attributed the strong performance to “improved inventory and cost management and increased efficiencies in our domestic retail and European wholesale initiatives.”
Skechers sells its trendy, casual footwear in department and specialty stores around the world and in about 80 retail and outlet stores of its own. Skechers (street slang for “can't stand still”) was founded by Robert Greenberg, who earlier had founded L.A. Gear. It was created to distribute Dr. Martens shoes, but eventually launched its own product line.