Skechers USA Inc. posted a 37 percent increase in first-quarter profit, thanks in part to a weak dollar and strong international demand.

Skechers reported a profit of $32.8 million (70 cents per share), compared to $23.9 million (52 cents) in the same period a year earlier beating Wall Street’s expectations of 60 cents per share.

Sales for the Manhattan Beach-based shoe retailer increased 12 percent to $385 million helped mainly by high double-digit growth in international business, a lower tax rate and the favorable impact of the exchange rates, Chief Financial Officer Fred Schneider said in a statement. The sales were lower than analysts’expectations of $390 million.

However, Skechers gave a cautious outlook for the second quarter, citing a weak U.S. retail environment that has resulted in many retailers curtailing advance orders. Skechers sees profit of 30 cents to 38 cents a share on sales of $350 million to $365 million.

Wall Street was expecting a profit of 36 cents per share on sales of $385 million.

Shares in Skechers closed down 5 cents to $18.03 but shot up 7 percent in after-market trading following the earnings announcement.