Skechers reported a 144 percent jump in net income for the third quarter to $28.8 million as revenues increased by 20 percent to $515.7 million and gross margins improved by 0.9 percentage points to 44.6 percent. Strong demand was registered for the company's children's shoes and its Skechers Go and Relaxed Fit lines. Sales grew by 30 percent in the U.S., with an increase of almost 20 percent in company-owned stores, backed by 16.9 percent higher same-store sales. Elsewhere, the sales increase was limited to 5.8 percent as a 16.1 percent increase at company-owned subsidiaries and joint ventures around the world was partly offset by a 17.3 percent drop in sales to distributors. Columbia, Egypt and Kenya were particularly hit. Chile, Canada, Brazil, France and three other regions posted double-digit growth, but there was no improvement in Italy or Spain. The first Skechers stores in Brazil and Turkey opened during the quarter. Total orders were up by 19.7 percent at the end of the quarter (more in Shoe Intelligence).

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