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Friday, Dec 1, 2023

K-Swiss Gets Traction From International Markets

Citing strength in its international business, K-Swiss Inc. reported earnings increased nearly 20 percent to $25.9 million in the first quarter ended Mar. 32, despite a significant decrease in domestic sales. The Westlake Village-based athletic footwear and apparel maker said domestic revenues for the first quarter decreased 9.2 percent to $117.6 million while international revenues increased more than 58 percent to $35.6 million. Total worldwide revenues for the first quarter reached $153.1 million, compared with $152 million in the prior year period. “The growing profitability of our European operations and strong sales in Asia, particularly in Japan, were the stars once again this quarter,” said Steven Nichols, chairman and president of K-Swiss. “Additional highlights for the first quarter included strong sales of our Classics, which have responded well to our focused marketing on new color and stripe treatments, and a major licensing partnership with Royal Elastics with L.A.M.B. footwear.”

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