Skechers’ Net Income Jumps 61% in Quarter

Skechers USA Inc. posted a 61% jump in first-quarter profit as the footwear maker benefited from higher U.S. wholesale and retail sales.

The Manhattan Beach-based company said net income for the quarter ended March 31 was $16.6 million, or 38 cents a share, compared with $10.3 million, or 25 cents, a year earlier.

Sales rose 13% to $277.6 million, helped by new fashion and street brands such as Kitson, Siren by Mark Nason and 310 by a rapper known as the Game.