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Skechers USA posted flat sales in the 2020 fourth quarter even as the direct-to-consumer (DTC) business took a hit from closed owned-retail stores and the subsidiary’s business in Latin America and Europe surged with strong double-digit growth. The company saw strong growth in its e-commerce business, but Skechers’ focus on its owned-retail stores limited its DTC business opportunities.
In the fourth quarter, sales totaled $1.32 billion, a decrease of half of a percent versus the prior-year comp period, which represented a record Q4 for the company. On a constant-currency basis, sales decreased 2.5 percent due to a mid- to high-single decline in DTC sales, which was negatively impacted by reduced traffic in the company’s brick & mortar stores, a result of the “stay at home guidelines and an overall decline in foot traffic and tourism.” Skechers saw International sales improve 1.1 percent versus the comp period last year while its domestic business decreased 2.8 percent.