SKECHERS USA, Inc. (SKX) has reported a 3.71 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $94 million, or $0.60 a share in the quarter, compared with $97.61 million, or $0.63 a share for the same period last year.

Revenue during the quarter grew 9.61 percent to $1,072.81 million from $978.79 million in the previous year period. Gross margin for the quarter expanded 26 basis points over the previous year period to 44.42 percent. Total expenses were 88.40 percent of quarterly revenues, up from 85.84 percent for the same period last year. That has resulted in a contraction of 256 basis points in operating margin to 11.60 percent.

Operating income for the quarter was $124.42 million, compared with $138.55 million in the previous year period.

Robert Greenberg, SKECHERS chief executive officer, commented: "In 2005, we surpassed $1 billion in annual sales, and now less than 12 years later, we had our first $1 billion plus in quarterly sales. The key to our success then and now is the drive, dedication and talent of the many people behind this great brand. We look very good from a product standpoint-with innovative, comfortable and beautiful footwear and now apparel-and in our marketing as well-with lifestyle campaigns featuring Rob Lowe, Meghan Trainor, Joe Montana, Howie Long, Sugar Ray Leonard, Brooke Burke-Charvet and Kelly Brook." Mr. Greenberg continued: "Our global footprint continues to grow with our ongoing success in Canada, Chile and China as well as in India, Australia and Turkey, and many other markets. This success is in part due to the expansion of Skechers retail stores around the world."

For the second-quarter 2017, SKECHERS USA, Inc. projects revenue to be in the range of $950 million to $975 million. The company forecasts diluted earnings per share to be in the range of $0.42 to $0.47 for the second-quarter.