Chunky sneakers helped boost Sketchers' fourth-quarter sales to a record.
Skechers USA Inc. reported record fourth-quarter sales, capping off a year that surpassed $5 billion at checkout, thanks in part to one trend: chunky sneakers.
Chunky sneakers, or “dad sneakers,” are a trend at both the high and low price points, with Skechers SKX, +4.06% and Balenciaga both examples of labels that have gotten in on the style. “Fashion footwear has been heavily driven by comfort, as casual styles continue to gain share at the expense of dress, and this shows no signs of slowing down,” wrote Beth Goldstein, executive director at NPD Group, in an accessories and footwear post published in January. The group’s Future of Footwear report for 2020 found that “sport leisure footwear” will become the largest shoe category.
Guidance takes into account an initial estimate of the impact of current events in China, including the coronavirus. Skechers says there have been a “significant number” of store closures.
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