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Old 08-26-2011, 07:45 PM   #1
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SKECHERS USA Inc, a global leader in lifestyle footwear, announced financial results for the second quarter ended June 30, 2009.Second quarter 2009 net sales were 299.0 million and the net loss was 5.9 million. In the second quarter of 2008, we had net sales of 354.6 million,ralph lauren polo outlet, a record for second quarter net sales,kids ralph lauren, and net earnings of 14.6 million. Second quarter loss per diluted share was 0.13 based on 46.3 million weighted average shares outstanding as compared to net earnings per diluted share of 0.31 based on 46.8 million weighted average shares outstanding in the second quarter of 2008."Our second quarter 2009 sales are in line with our recent expectations in light of today's soft retail environment," began Fred Schneider. "Our revenues continue to be negatively impacted by the weakness in the global economy, yet we have reacted in a strategic and aggressive manner to these challenges by continuing to focus on managing our inventory and expenses, and further strengthening our product offering and balance sheet.While we continued to experience margin pressure in the early part of the quarter, margins improved in June and we believe our inventory is now clean. In addition, our expenses are in line with our current business. Importantly, we are maintaining our position in the global footwear market and we currently expect to be profitable in the second half of the year."For the six months ended June 30,Mens ralph lauren, 2009,Mens ralph lauren <a href="http://www.nfljerseys-supply.com/ "><strong>custom nhl jerseys</strong></a> polo shirts, net sales were 642.4 million compared to net sales of 739.5 million in the first six months of 2008. Net earnings were 2.3 million, compared to net earnings of 47.5 million in the first six months of 2008. Net earnings per diluted share in the first six months of 2009 were 0.05 per share on 46.4 million diluted shares outstanding versus net earnings of 1.02 per share on 46.7 million diluted shares outstanding for the same period last year. Included in diluted earnings per share for the first six months of 2009 is a 1.9 million reduction in income tax expense or 0.04 per share adjustment recorded in the first quarter that relates to the prior year.Gross profit for the second quarter <a href="http://www.nfljerseys-supply.com/"><strong>kids nfl jerseys</strong></a> of 2009 was 122.6 million or 41.0 percent of net sales compared to 157.2 million or 44.3 percent of net sales in the second quarter of last year. Gross profit for the first six months of 2009 was 248.0 million or 38.6 percent of net sales versus 329.4 million or 44.5 percent of net sales in the first six months of 2008.Robert Greenberg, SKECHERS chief executive officer,wholesale ralph lauren polo, commented: "We just completed three weeks of product review with our key accounts and are pleased with the reaction to our Spring 2010 collections for each of our brands. Though many of these accounts continue to feel the impact of the weak economy, we believe they are looking to SKECHERS to meet their immediate needs and for the coming Spring season due to the relevance of our styling and the value we offer consumers.Â*
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