Revenue for Skechers USA Inc. came in well below $5 billion in 2020, marking a significant drop for the Manhattan Beach-based footwear manufacturer and retailer.
The company’s fourth-quarter sales were $1.3 billion, nearly even with the same period in 2019. Its annual revenue was $4.6 billion, an 11.9% year-over-year decrease. Net earnings for the year were down 71.6% to $98.6 million.
“We believe our domestic brick-and-mortar stores will continue to be impacted … through the first half of the year. (W)e expect to see improvement as more people receive vaccinations,” Chief Operating Officer David Weinberg said during an earnings call on Feb. 4.
