“​2022 was another milestone year for Skechers as we achieved record annual sales of $7.4 billion. This increase of $1.1 billion, or 18%, from the prior year was the result of four quarterly sales records, including fourth quarter sales of $1.88 billion,” said David Weinberg

“Fourth quarter growth was driven by increases of 16% in Wholesale combined with 11% in direct-to-consumer. Wholesale results were driven by double-digit growth in the U.S., international distributors, Germany, India, Mexico, and Spain. The strength in our direct-to-consumer business was primarily driven by domestic sales.

“The growth within the quarter was partially offset by a 23% decrease in our China sales, which were impacted by Covid-related restrictions, including the temporary closure of more than 1,000 Skechers stores in November.

Looking ahead, the company said its believes its business in China will improve throughout 2023, with the recent elimination of the zero-Covid policy.

“In addition, while the inventory challenges at our domestic distribution center have been difficult to navigate, we are seeing improvements and remain confident in the strength of our brand and the demand for our products. We ended the year strong and expect to see continued growth in 2023,” added Weinberg