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Tag: Skechers

  • Skechers Reports Strong Q2 Growth Of 13.1%, Bolstered By International Market Success

    Skechers Reports Strong Q2 Growth Of 13.1%, Bolstered By International Market Success

    Skechers, the global footwear leader, reported its financial results for the second quarter of 2025, reflecting an overall positive growth across its various business channels. The company’s total revenue for the quarter was recorded at US$2.44 billion, marking a 13.1% increase compared to the same period in the previous year. This growth is primarily attributed to robust demand in both its wholesale and direct-to-consumer channels.

    A Closer Look at the Financials

    The net income of Skechers witnessed a significant surge of 21.5%, reaching $170.5 million, up from $140.3 million registered in the corresponding period of the previous year. The wholesale revenue for the quarter was also on an upward trajectory, accounting for $1.30 billion, a 15% increase from the prior-year period. Direct-to-consumer sales also followed suit, with an increase of 11% totaling $1.14 billion, compared to $1.03 billion noted a year earlier.

    In terms of domestic sales, the figures remained relatively stable, registering a marginal decrease of 0.2%. While wholesale sales experienced a decline of 7.5%, direct-to-consumer sales offset this with a 7.6% rise.

    International Market – A Strong Growth Driver

    The international market emerged as a key growth driver for Skechers with international sales constituting about 64.6% of the total revenue in Q2, a noticeable increase from approximately 60% a year earlier. This growth was spurred by a significant 29.6% increase in wholesale international sales and a 13.3% rise in direct-to-consumer international revenue.

    Despite a decline in China sales, which dropped 8.2% to $287.2 million, sales in the Asia Pacific region rose by 5.5% to $595.5 million. The Americas division witnessed a slight increase of 1.1% with sales amounting to $1.11 billion. However, the Europe, Middle East & Africa (EMEA) region showed the most robust regional growth, with sales surging 48.5% to $731.5 million.

    Looking Back at the First Half of 2025

    For the first half of 2025, Skechers reported total sales of $4.85 billion, signifying a 10% increase from the previous $4.41 billion in the prior year. The regional growth trends were similar to those of Q2, with EMEA witnessing an increase of 29.4%, Americas growing by 4.6%, and the Asia Pacific region recording a modest growth of 1.4%.

    Currently, Skechers operates over 5200 stores globally, which include both company-owned and third-party-owned locations. The company is confidently marching towards its goal of establishing 10,000 stores across the globe.

    Questions & Answers

    What was the total revenue of Skechers in Q2 2025?
    The total revenue of Skechers in the second quarter of 2025 was US$2.44 billion.

    Which region showed the strongest growth for Skechers?
    The Europe, Middle East & Africa (EMEA) region showed the strongest growth for Skechers, with sales jumping 48.5% to $731.5 million.

    How many stores does Skechers currently operate worldwide?
    Skechers currently operates more than 5200 stores worldwide.

  • Skechers opens world-first Performance Flagship

    Skechers opens world-first Performance Flagship

    Skechers has unveiled its first-ever Performance Flagship at West Edmonton Mall in Canada, offering an interactive retail experience space incorporating a half-court layout staging a range of performance products.

    Featuring half-size pickleball and basketball courts, the 700sqm store houses an extensive sales floor and the brand’s innovative athlete-worn technology performance products of footwear, apparel, and accessories.

    “Our new performance store offers competitors at every level the complete experience: from our largest-ever offering of performance footwear, apparel and accessories to Skechers specialists and educators for our diverse sports technologies, and courts where consumers can discover how our product performs without ever leaving the store,” said Michael Greenberg, president of Skechers.

    In addition, customers can explore the latest performance products for any level player, including golf, soccer, training, hiking, running and trail, supported by a roster of elite athletes. The Edmonton store also showcases signature technologies like Hyper Burst Pro, Performance Fitknit, Hands Free Slip-ins, Max Cushioning, and Arch Fit.

  • Skechers granted an injunction against Dockers for alleged patent infringement

    Skechers granted an injunction against Dockers for alleged patent infringement

    In August, Skechers sued nonslip shoemaker Laforst Shoes over the alleged infringement of the slip-in-heel design. These shoe styles were the subject of high-profile Super Bowl ads earlier this year featuring Martha Stewart and Snoop Dogg, and Skechers says it’s sold millions of pairs of the hands-free shoe.

    On October 5, the Düsseldorf Regional Court in Germany found that Dockers had infringed on one of Skechers’ heel pillow designs, per the Skechers release.

    In a news release on the ruling, Skechers President Michael Greenberg said the company would “continue to aggressively police and enforce” its proprietary rights for the sneaker design.

    “While the ruling can be appealed, we are very pleased that the German court in the first instance acknowledged Skechers’ rights and immediately stopped the sale of the offending shoe style throughout the European Union,” Greenberg said. “Skechers invests tremendous resources into product development to introduce fresh, unique, and exciting footwear to its customers year in and year out.

    While Skechers always prefers to compete in the marketplace rather than the courtroom, the Company has no choice but to seek legal recourse when competitors infringe on our intellectual property rights.”

    Skechers’ legal complaint against Laforst is ongoing, though court documents show the parties have engaged in settlement discussions. As of Sept. 26, a judge in the United States District Court Central District of California gave Skechers 30 days to finalize its settlement with Laforst.

    In April, Skechers settled a patent dispute with French luxury brand Hermès over its Massage Fit sole.

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  • Skechers takes control of Philippines operation

    Skechers takes control of Philippines operation

    Skechers parent, The Comfort Technology Company, has transitioned the operations of the footwear brand in the Philippines from its third-party distributor, Trendworks International, to Skechers USA Philippines.

    The company said the move is to maximize the brand’s growth in the region. Trendworks International will continue to sell Skechers products through the end of this year.

    In addition, Skechers USA Philippines will expand the brand’s presence in the country, opening 10 to 12 additional concept stores during the first half of next year, including those in key department and specialty stores such as Planet Sports and The SM Store.

    “The Philippines has immense potential for Skechers, and with our dedicated team focused on growth and delivering the integrated capabilities of Skechers,” said David Weinberg, COO at Skechers USA. “We believe this step accelerates that potential.

    “With Skechers’ appealing lifestyle collections, groundbreaking comfort innovations and our corporate support, we believe the Philippines can become a key market for us in Southeast Asia.”

    According to Suzette Pasustento, country manager for Skechers USA Philippines, the company is currently under the first phase of re-establishing the brand in the market, including setting up new offices in Manila and opening a distribution centre. The company has also opened its first new store this month.

    “With this new dedicated approach, we will be able to reach more of the 100 million men, women and children in this country and offer them a wider selection of great Skechers products through expanded channels,” said  Pasustento.

    “In 2022, we will introduce new product categories, open more retail locations and expand our door count with new retailers, as well as launch a comprehensive marketing campaign.”

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  • Skechers opening more outlets in Singapore

    Skechers opening more outlets in Singapore

    Skechers Singapore has accelerated its expansion plan in the city despite the Covid-19 situation.

    Since July, the footwear brand has rolled out five new stores in the territory, taking its store count to 30, employing 40 additional staff to man them.

    While many retailers are struggling to remain commercially viable during the Covid-19 crisis, and some closing stores, Skechers’ is bucking the trend. One of the latest victims of Covid-19 in Singapore is fashion retailer Topshop which has announced it will quit all its physical stores in the city and move entirely online.

    “It is without a doubt (that) in the retail industry, it is quite challenging,” VP at Skechers Southeast Asia, Zann Lee, told Channel News Asia. “This is a good time for us to actually enter into a market with good locations.”

    Besides expanding its physical presence, the brand is also developing its own online store as shoppers are shifting to online shopping. Although opening its own e-commerce store may seem like a late response to Covid-19, Skechers is already selling its products online via third parties such as Shopee or Lazada.

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  • Skechers China growth drives optimism for global sales recovery

    Skechers China growth drives optimism for global sales recovery

    Skechers China sales growth has fuelled optimism for the shoe brand after it reported a huge slump in sales for the June quarter due to stores being closed in other regions under Covid-19 lockdowns.

    The company reported group-wide sales of US$729.5 million, a 42 percent year-on-year decrease, and a net loss of $68.1 million during the three months to June 30.

    But sales in China rose 11.5 percent and sales on Skecher’s company-owned online store soared by 428.2 percent as buyers in some markets, unable to shop at physical stores, moved online.

    “Skechers, like most businesses around the world, has never faced a more challenging time than during the pandemic, which caused the closing of nearly every market worldwide,” said CEO Robert Greenberg. “Covid-19 continues to be a serious concern globally, and the health and welfare of our team, partners, and customers remain our number one priority.”

    Skechers stores were closed for varying periods of time in almost every market outside Asia.

    “However, we remain optimistic about the early signs of recovery we witnessed during the quarter, including a return to growth in China, consistent improvement each month in some markets outside of China,” said COO David Weinberg.

    “While every country’s recovery has been unique, we began to see a similar recovery trend, first reflected in China and now extending into other markets globally including Australia, Germany, South Korea, and Taiwan. We believe the positive sales trends in markets that have reopened, as well as the efficiency with which we addressed the pandemic challenges, are strong indicators that when the global health crisis stabilizes, Skechers will remain a global footwear leader.”

    Greenberg said the company was a “resilient organization” driven by a dedicated and flexible team determined to do whatever it takes to not only survive but position itself for a return to profitability.

    “Now, with more than 90 percent of our Skechers stores safely re-opened and some markets in the early stages of recovery, we believe that we will remain a brand consumers and retailers trust to deliver comfort, quality, and style. We are hopeful that global economies will continue to improve, and as they do, we will continue to operate efficiently and judiciously during this pandemic,” he said.

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  • Covid-19 blunts tremendous growth of footwear brand Skechers

    Covid-19 blunts tremendous growth of footwear brand Skechers

    US footwear brand Skechers has reported a modest 2.7-per-cent drop in first-quarter sales brought on by the coronavirus outbreak – and painted a rosy picture of life beyond the coronavirus crisis.

    “We are in unprecedented times, facing difficult decisions daily as we navigate this global pandemic that has negatively impacted every business throughout our industry and most others,” said Skechers CEO  Robert Greenberg.

    “We know from the triple-digit growth we are experiencing so far this month in our e-commerce business and the positive sales trajectory of our recovering business in China, that Skechers’ product continues to resonate with consumers. As our business begins to return to normal, we firmly believe that our retail partners and customers will look to a brand they trust that delivers comfort, innovation, style, and quality at a value.”

    The firm’s net earnings during the period were US$49.1 million, with adjusted net earnings $59.9 million, reflecting the impact of negative foreign currency rates and certain purchase price adjustments related to the company’s Mexico joint venture.

    “We experienced strong momentum throughout 2019, which continued into the first two months of 2020,” said Skechers COO David Weinberg. “However, due to significantly reduced economic activity in China after January, and the spread of the Covid-19 pandemic around the rest of the world in March, sales decreased 2.7 percent in the first quarter. Until then, Skechers’ business was on track for a new first-quarter sales record.”

    CFO John Vandemore said that despite “an extremely strong end” to last year and an equally strong beginning to this one, the company saw a notable slowdown in markets impacted by the Covid-19 pandemic.

    “We have taken decisive action to fortify our business for the duration of this crisis, including drawing down on our senior unsecured credit facility, actively managing operating expenses, inventory levels and production orders, and deferring non-critical capital expenditures. We are confident that the actions we have taken and will continue to take, combined with the global strength of our brand and balance sheet, will position Skechers to successfully navigate this situation, and poise us to return to growth in the future.”

  • Skechers flagship opens in Shanghai Disneytown

    Skechers flagship opens in Shanghai Disneytown

    A Skechers flagship has opened in Shanghai Disney Resort called the Skechers Kids Brand Experience.

    Located at the busiest sector of Disneytown shopping district where more than 11 million people visit annually, Skechers Kids Brand Experience store offers a selection of kids’ sneakers and parent-child clothing.

    “This amazing location is front and centre in the middle of the action at Disneytown and offers a unique opportunity to expose a wide range of consumers to our Skechers Kids product,” said Michael Greenberg, president of Skechers.

    “Our footwear and apparel collections for boys and girls are filled with innovation and fun styles that continue to resonate within China and around the globe.

    “This unique Skechers Kids store illustrates how we adapt to a location so that we can connect with consumers in new and exciting ways to elevate the shopping experience”.

    Inspired by the fairytale ambience of Disney resort, the Skechers flagship features a kid-friendly environment where families can enjoy their shopping experience.

    Skechers has more than 1000 retail outlets across China and more than 3300 around the globe, including flagship locations like New York’s Times Square, Covent Garden in London, and Harajuku in Tokyo.

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  • Skechers in Singapore opens Southeast Asia’s largest store yet

    Skechers in Singapore opens Southeast Asia’s largest store yet

    Skechers in Singapore has opened the brand’s largest experience store in Southeast Asia, at  Jewel Changi airport.

    The 5000sqft duplex store’s interior has been designed with an overall modern and sleek look, achieved through the use of bright lighting and cement panels.

    On opening day, more than 2500 shoppers and 250 invited guests were at the store to participate in activities including a fashion and dance showcase.

    “For the past 10 years, Skechers has been evolving and improving ourselves in terms of retail shopping,” said Vincent Leung, president of Skechers Southeast Asia.

    “Our clear direction is to create a wonderful customer shopping experience, with Brand Experience Stores in China, Hong Kong, and now our very first in Southeast Asia right here at Jewel Changi Airport.”

    A staircase between Levels 1 and 2 features a colourful wall mural designed by Diplomat, a group of young budding Singapore artists, adding energetic hip-hop and street-cred elements to the space.

    There is also a photo zone on Level 2, where visitors can take selfies with a fun photo-wall.

    Another highlight of the Skechers in Singapore store exclusive to Jewel is a customisation zone, where one can personalise selected Skechers shoes or apparel with embroidery or heat press.

    Guests of the opening were able to make their own customised pouch, choosing motifs to create a unique souvenir of the event.

  • Skechers Opens first duplex store in Singapore

    Skechers Opens first duplex store in Singapore

    Skechers Singapore is opening Southeast Asia’s largest and first duplex experiential concept store, at Jewel Changi this week.

    Set to open on Thursday (April 11), the 5000sqft space will incorporate new visual-merchandising and store-design elements with the use of bright lighting and cement panels.

    The space is divided into product categories, including performance, lifestyle and Skechers kids.

    The store also adopts a story-driven design, where key messages behind each product range will be highlighted through visual images and artwork.

    On Level 2 an Instagram-worthy photo zone features thematic displays and images that will be refreshed every season to reflect the keys launches with the Skechers x One Piece collaboration centrestage.

    This will be the first store in Singapore to include a shoe customisation zone with embroidery and heat-press personalisation, and to carry Jewel-exclusive collections including the Skechers SKLX series of training sneakers.

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  • Puma pips rivals, becomes top sportswear brand in India

    Puma pips rivals, becomes top sportswear brand in India

    German sportswear major Puma on Monday claimed that it has become the top sportswear retailer in India, surpassing rivals such as Nike, Adidas, Skechers and Reebok in terms of yearly sales. Puma, the third-largest sportswear manufacturer in the world, has reported sales of Rs 1,157 crore for the 12-month period ending December 2018 against Rs 958 crore reported in the year ago period.

    The company follows the January-December calendar year, while its Nike, Adidas, Skechers and Reebok go by the April-March financial year (FY) cycle.

    In FY 2017-18, Puma’s compatriot Adidas had registered sales of Rs 1,132 crore, up from Rs 1,100 crore reported in FY 2016-17.

    During the same period, American sportswear giant Nike reported sales of Rs 828 crore against Rs 807 crore reported in the previous fiscal.

    Reebok, which is owned by Adidas, saw its sales drop from Rs 416 crore in FY 2016-17 to Rs 391 crore in FY 2017-18.

    Another American brand Skechers, which is relatively new in the Indian market, reported sales of Rs 440 crore in FY 2018-19, up from Rs 282 crore reported in FY2016-17.

    “We are making strong progress in both sports performance and sport style categories,” Puma India Managing Director Abhishek Ganguly was quoted as saying.

    Interestingly, India is the only country where Puma’s sales have crossed the sales of other sportswear giants such as Adidas and Nike.

    Over the past few years, India has rapidly caught up with the wider global fitness trends. From 2015 to 2016, the Indian sportswear market grew 22 per cent, outpacing the segment’s global increase of 7 per cent, according to Euromonitor International. By 2020, it is expected to grow an additional 12 per cent CAGR (compound annual growth rate) with sales expected to reach $8 billion.

    The bitter rivalry between Puma and Adidas goes beyond mere corporate competition. It was in fact a sibling fallout that created two of the world’s biggest sportswear brands.

    In the 1920s, German brothers Adolf and Rudolf Dassler launched a shoe company together. Their business picked up after Dassler shoes were used by medal-winning Olympians through out the 1930s.

    But along with sales, tension also spiked between the Dassler brothers, which reached a boiling point during World War II. While it was not clear what exactly caused the rift, it was said to be a result of miscommunication.

    The brothers eventually split in 1947 with Rudolf forming a new firm that he called Ruda – from Rudolf Dassler – later rebranded Puma, while Adolf, who preferred to be called Adi, named his business Adidas.

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  • Skechers passes store milestone

    Skechers passes store milestone

    Skechers China has opened a new superstore in Shenyang, the footwear brand’s 3000th globally. The footwear brand’s largest store yet covers more than 32,000sqft, showcasing a diverse range of footwear, apparel and accessories styles for men, women and children. It features shops-in-shops for different categories and a Skechers Kids entertainment zone.

    US-headquartered Skechers says it is continuing to expand its retail, sales and logistic infrastructure and is improving its customer experience with new-generation point-of-sale technologies.

    “We sell in more than 170 countries through our extensive network of distributors and joint ventures, and we have many more opportunities to build our retail store business even further and expand our global presence for years to come,” said Michael Greenberg, president of Skechers.

    China has the largest number of Skechers retail stores at 941, followed by the US at 472, and India at 222.

    To date, there are 690 company-owned stores worldwide, including two opened in the US in the first quarter. The company plans to open another 70 to 80 company-owned stores and another 500 third-party owned stores this year.

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  • Skechers Takes Control of India Business

    Skechers Takes Control of India Business

    Skechers has bought its joint venture partner in Skechers India, taking the business inhouse. Skechers India has 223 retail locations across the country, 61 of which are company owned and operated, with the remainder franchised. Last year, Skechers saw double-digit increases in wholesale and retail sales and an 80 per cent increase in pairs sold, reaching 2.7 million.

    An additional 80 to 100 stores are planned for this year – of which about 20 will be company-owned.

    The dual-ownership model is expected to allow Skechers India to grow and expand its presence faster, the parent company said in a statement.

    “Skechers is still a relatively young brand in this country, having been in India for less than a decade, yet in the last five years, we have seen significant growth through our joint venture,” said Michael Greenberg, president of Skechers.

    “The substantial existing retail network of over 200 stores, a strong wholesale business and a recently launched e-commerce site is a solid foundation that we can build upon. These accomplishments, as well as opportunities we see to increase the brand’s exposure and drive sales, give us great optimism and confidence for the growth of Skechers in India.”

    Rahul Vira, CEO at Skechers South Asia, said the company was delighted to become a wholly-owned subsidiary of Skechers.

    “This development will enable us to amplify our growth plans, accelerate expansion of our operations and build a stronger network to further gain market share in India,” he said.

    Skechers India will continue operating under its existing structure and from its existing headquarters in Mumbai.

  • Skechers launched biggest Southeast Asia flagship store in Bangkok

    Skechers launched biggest Southeast Asia flagship store in Bangkok

    Bangkok’s CentralWorld shopping centre is home to the newly opened Skechers Thailand flagship store. The North American footwear company says Thailand represents its fastest-growing market in the region which is why the store, at 275sqm, is its largest yet in Southeast Asia. In the first nine months of the year, sales grew by more than 50 per cent.

    The new store features the Skechers apparel range for the first time in the market, with management hoping that will grow to account for up to 30 per cent of Thailand sales volume.

    Kaimuk Nilsatetee, assistant VP of CRC Sports, the licensee for Skechers Thailand, said the company sold about 400,000 pairs of Skechers across the country last year and is targeting double that number this year.

    “Skechers shoes generate the most sales revenue for CRC Sports,” Kaimuk said. “Its performance has gone well since expanding its business to Thailand in the past several years.”

    CRC Sports sells Skechers in 32 concept stores, two outlet stores, 25 concessions and through 95 resellers. Another 12 stores are planned for next year.

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  • Skechers achieves record third quarter 2018 sales

    Skechers achieves record third quarter 2018 sales

    Skechers USA, a global footwear leader, has announced financial results for the third quarter ended September 30, 2018. “Achieving record third quarter sales is a notable accomplishment given the strength of our third quarter 2017 sales,” began Robert Greenberg, Chief Executive Officer, Skechers.

    Greenberg added, “Both our domestic and international businesses grew, and we remained the leader in walking, work, casual lifestyle and sandals footwear in the United States. We experienced strong product successes across multiple divisions around the world, which was evident by our double-digit growth in both our international wholesale and worldwide Company-owned retail businesses. Skechers D’Lites, our heritage chunky style that has seen great success over the last two years in Asia, is now an in demand style across North America and Europe, and is poised for growth in South America, India and the Middle East. Through Skechers D’Lites, we are reaching a younger, more fashion-savvy audience, and getting press—from Marie Claire and Elle to HypeBae and Highsnobiety—and social media influencers are embracing this signature look. Further, we are seeing renewed acceptance of this chunky style by men. Our core footwear categories for men, women, work and golf are also performing well. We are achieving this growth with the right product mix combined with a balanced approach to marketing spend. As we continue to invest in our international infrastructure, we believe there is significant opportunity to grow our brand further through both wholesale, and Company-owned and third-party retail stores, which now stand at 2,802 locations worldwide. We’re looking forward to fourth quarter growth across both our domestic and international channels and a new annual sales record.”

    “As we near the close of 2018, we believe the direction of our business is on target with our record sales in the third quarter, continued international growth and strong gross margins,” stated David Weinberg, Chief Operating Officer of Skechers.

    Weinberg added, “With three record sales quarters in 2018 and brand acceptance around the globe, we achieved a new record for the first nine months of US$ 3.56 billion, an 11.5 percent increase over last year. In the third quarter, our international distributor business returned to growth, increasing 11.6 percent over the same period last year, and combined with our international joint venture and subsidiary business, our total international wholesale sales increased 11.8 percent for the period. International wholesale along with international retail now represents 55.5 percent of our total business. We expect our business in the United States—both wholesale and retail—to grow in the fourth quarter. We remain committed to efficiently and profitably growing our global footwear business.”

    Sales grew 7.5 percent as a result of an 11.8 percent increase in the Company’s international wholesale business, and a 10.6 percent increase in its Company-owned global retail business. Its domestic wholesale business decreased 3.0 percent. The Company’s total international business grew 12.5 percent and its total domestic business grew 1.8 percent. Third quarter comparable same store sales in Company-owned retail stores worldwide increased 1.9 percent, including an increase of 3.0 percent in the United States offset by a decrease of 0.8 percent in its international stores.

    Gross margins slightly increased as higher domestic margins from improved retail pricing and product mix were partially offset by the impact of negative foreign currency exchange rates.

    SG&A expenses increased 9.5 percent in the quarter. Selling expenses increased by 0.7 percent, but improved 50 basis points as a percentage of sales from 8.2 percent to 7.7 percent for the third quarter 2018. The US$ 37.8 million increase in general and administrative expenses was primarily the result of the Company’s continued commitment to build its international brand presence and direct-to-consumer channels. General and administrative expenses in China grew US$ 7.5 million to support continued expansion, including preparation for next month’s Single’s Day, and US$ 13.3 million associated with operating 58 additional company-owned Skechers stores worldwide, of which 13 opened in the third quarter. General and administrative expenses also included US$ 11.1 million related to corporate and domestic operations, of which US$ 4.8 million was for increased domestic warehouse and distribution costs.

    Earnings from operations increased US$ 7.4 million, or 6.4 percent.

    Net earnings were US$ 90.7 million and diluted earnings per share were US$ 0.58. In the third quarter, the company’s income tax rate was 13.7 percent reflecting its continued assessment of the impact of the recently enacted tax reform legislation. As a comparison, the company’s income tax rate for the three months ended September 30, 2017 was 9.4 percent.

    Sales grew 11.5 percent as a result of an 18.9 percent increase in the company’s international wholesale business, and a 13.7 percent increase in its company-owned global retail business. For the nine-month period, its domestic wholesale business was essentially flat compared to the same prior year period. The company’s combined international wholesale and retail business grew 19.7 percent and its combined domestic wholesale and retail business increased by 3.4 percent.

    Gross margins increased due to strength in the Company’s international wholesale and Company-owned international retail businesses.

    SG&A expenses increased 17.3 percent. This increase was due to an additional US$ 176.3 million in general and administrative expenses. Selling expenses increased by US$ 25.3 million.

    Earnings from operations increased US$ 26.9 million, or 8.2 percent.

    Net earnings were $253.7 million and diluted earnings per share were US$ 1.62. For the nine months, the company’s income tax rate was 13.0 percent. As a comparison, the company’s income tax rate for the nine months ending September 30, 2017 was 12.9 percent.

    For the fourth quarter of 2018, the company believes it will achieve sales in the range of US$ 1.100 billion to US$ 1.125 billion, and diluted earnings per share of US$ 0.20 to US$ 0.25. The guidance is based on expected growth in each of the company’s three segments. The company now expects its effective tax rate to be between 13 and 15 percent, which implies a fourth quarter tax rate of between 17 and 20 percent.

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