Skechers Q1 sales and profit plummet due to coronavirus outbreak

First quarter sales at Skechers USA, Inc., decreased 2.7 percent to 1.24 billion dollars, as a result of a 6.8 percent decrease in its international business, which was partially offset by a 2.9 percent increase in the company’s domestic business. On a constant currency basis, the company’s total sales decreased 1.2 percent. Comparable same store sales in company-owned direct-to-consumer business decreased 8.1 percent, including a decrease of 4.7 percent in the United States and 16.6 percent internationally, reflecting the closure of the majority of its Skechers-owned stores since mid-March.