Skechers released its Q2 earnings, reporting net sales of $2.44 billion, a 13.1% increase from last year. Analysts expected sales between $2.3 billion and $2.38 billion. Net earnings rose to $170.5 million, and diluted earnings per share were $1.13, a 21.5% increase from last year.

Skechers noted a favorable impact due to foreign currency exchange rates. Its wholesale sales grew 15% in Q2, and direct-to-consumer sales increased 11%. The company is working to go private, with a $9 billion deal with 3G Capital. Recent legal rulings have supported Skechers’ move toward privatization.

The deal with 3G Capital includes two election options for shareholders, reflecting the company’s growth under the leadership of Robert and Michael Greenberg. Skechers is expected to remain headquartered in Manhattan Beach, Calif., with the current management team continuing to lead the company.

Read more at Yahoo Finance: Skechers Beat Expectations in Q2 as Shoe Firm Continues on Path to Go Private