Skechers U.S.A., Inc. (NYSE:SKX) Q3 2024 Earnings Conference Call October 24, 2024 4:30 PM ET
Company Participants
Melissa Tankersley - Digital Marketing Manager
David Weinberg - Chief Operating Officer
John Vandemore - Chief Financial Officer
Conference Call Participants
Jay Sole - UBS
Laurent Vasilescu - BNP Paribas
Jim Duffy - Stifel
Alex Straton - Morgan Stanley
Chris Nardone - Bank of America
Krisztina Katai - Deutsche Bank
Krista Zuber - TD Cowen
Paul Kearney - Barclays
Jesalyn Wong - Evercore
Operator
Greetings, and welcome to Skechers Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.
I would now like to turn the conference over to Skechers. Thank you. You may begin.
Melissa Tankersley
Good afternoon, everyone. Thank you for joining Skechers' third quarter 2024 earnings conference call. My name is Melissa Tankersley. I'm a manager on our Digital Marketing team at Skechers and have been with the company since 2021. My favorite style at Skechers is the Eden LX from our Court Classics collection.
Joining us on today's call are Skechers' Chief Operating Officer, David Weinberg, and Chief Financial Officer, John Vandemore.
Before we begin, I would like to remind everyone of the company's safe harbor statement. Certain statements made on today's call contain forward-looking statements based on current expectations, including without limitation, statements addressing the beliefs, plans, objectives, estimates and expectations of the company and its future results and certain events. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause actual results to differ materially from such statements.
There can be no assurance that the actual future results, performance or achievements expressed or implied by any of our forward-looking statements will occur. Please refer to the company's reports filed with the SEC, including its annual report on Form 10-K and quarterly reports on Form 10-Q for more information on these risks and uncertainties that may affect the company's business, financial conditions, cash flows and results of operations.
With that, I would like to turn the call over to Skechers' Chief Operating Officer, David Weinberg.
David Weinberg
Good afternoon, and thank you for joining us today on our third quarter 2024 conference call.
The third quarter marked a new quarterly sales record as we achieved $2.35 billion in sales, an increase of 16% or $323 million. Earnings per diluted share were $1.26, a 35% increase. We saw significant growth in both our segments, 21% in Wholesale, 9.6% in Direct-to-Consumer, and balanced growth of 16% internationally and 15% domestically. These across-the-board increases and record sales are a testament to the widespread acceptance of our diverse product as customers and consumers increasingly look to Skechers as their source of innovative comfortable footwear.