Wright Medical Group N.V. (NASDAQ:WMGI) Q1 2015 Earnings Conference Call - Final Transcript

Apr 29, 2019 • 04:30 pm ET


Wright Medical Group N.V. (NASDAQ:WMGI) Q1 2015 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Skechers USA Incorporated First Quarter 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder this conference is being recorded.

At this point I'd like to turn the conference over to Skechers. Please go ahead.

Unidentified Speaker

Thank you everyone for joining us on Skechers' conference call today. I will now read the Safe Harbor statement. Certain statements contained herein, including, without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the Company or future results or events may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended.

Such forward-looking statement involve known and unknown risks, including, but not limited to, global, national and local, economic, business and market conditions in general and specifically as they apply to the retail industry and the company. There can be no assurance that the actual future results performance or achievements expressed or implied by such forward-looking statements will occur.

Users of forward-looking statements are encouraged to review the Company's filings with the US Securities and Exchange Commission including the most recent annual report on Form 10-K quarterly reports on Form 10-Q current reports on Form 8-K and all other reports filed with the SEC as required by federal securities laws for a description of other significant risk factors that may affect the Company's business, results of operations and financial conditions.

With that I would like to turn the call over to Skechers' Chief Operating Officer and Chief Financial Officer, David Weinberg. David?

David Weinberg

Good afternoon and thank you for joining us today to review Skechers first quarter 2015 financial results.

Our sales for the first quarter were 768 million, a 40.5% increase over last year and the highest quarterly sales in the company's history. The outstanding first quarter growth is attributable to the continued strong demand for our men's, women's and kids footwear collections globally. This resulted in double-digit increases in our domestic and international wholesale and company owned retail businesses and single-digit increases in our domestic e-commerce business.

Further in the first quarter our average price per pair increased by 5.9% or $1.27 in our domestic wholesale business. We saw a 9.3% comp store increase in our global company owned retail business. We also achieved double digit increases in several key countries that were negatively impacted by currency and triple digit increases in two of our largest international markets. All of these factors are testament to the continued strong demand for our brand and product.

First quarter sales and financial highlights include record quarterly revenues of 768 million, a 38.2% increase in our domestic wholesale business with a 30.5% increase in pair shift and a 5.9% increase in average price prepare. A 59.5% increase in our international wholesale business with a 62.7% increase from our distributors and 58.5% increase from our subsidiaries and joint venture partners. A 19.9% increase in our company owned retail stores