by | Jul 28, 2010 | Press Release
Jul 28, 2010 • 4:00 pm EDT
- Net Sales of $504.9 Million
- Earnings from Operations of $58.8 Million
- Net Earnings of $40.2 Million
- Diluted Earnings Per Share of $0.82
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced financial results for the second quarter ended June 30, 2010.
Second quarter 2010 net sales increased 68.9 percent to $504.9 million compared to $299.0 million in the second quarter of 2009. Earnings from operations for the second quarter of 2010 were $58.8 million compared to a loss from operations of $7.7 million in the second quarter of 2009. Net earnings for the second quarter of 2010 were $40.2 million versus a net loss of $5.9 million in the second quarter of 2009. Second quarter diluted earnings per share were $0.82 based on 49,130,000 weighted average common shares outstanding as compared to a net loss per diluted share of $0.13 based on 46,282,000 weighted average common shares outstanding.
“Our second quarter net sales of over $500 million are a first in our 18-year history. In addition, we achieved record second quarter operating income, net earnings and earnings per diluted share on the heels of a record first quarter,” began David Weinberg, chief operating officer and chief financial officer. “The significant revenue growth is attributable to strong operational execution and product development and delivery across our domestic and international wholesale and retail channels, as well as via our e-commerce platform. We believe our momentum is being meaningfully supported and enhanced by our continued marketing efforts globally.”
For the six months ended June 30, 2010, net sales were $997.6 million compared to net sales of $642.4 million in the first six months of 2009. Earnings from operations for the first six months were $139.8 million compared to a loss from operations of $1.6 million in the same period of 2009. Net earnings were $96.5 million, compared to net earnings of $2.3 million in the first six months of 2009. Net earnings per diluted share in the first six months of 2010 were $1.97 per share on 48,955,000 million diluted shares outstanding versus net earnings of $0.05 per share on 46,424,000 million diluted shares outstanding for the same period last year.
Gross profit for the second quarter of 2010 was $237.6 million or 47.1 percent of net sales compared to $122.6 million or 41.0 percent of net sales in the second quarter of last year. Gross profit for the first six months of 2010 was $475.1 million or 47.6 percent of net sales versus $248.0 million or 38.6 percent of net sales in the first six months of 2009.
Robert Greenberg, SKECHERS chief executive officer, commented: “We reached a new revenue milestone with our first ever quarterly net sales of over $500 million and nearly $1 billion for the first six months of 2010. This growth is a significant achievement given that the U.S. retail market has only slightly improved from last year. The combination of our strong position and product momentum has resulted in continued penetration in the footwear market and increasing demand for our SKECHERS brand both in the United States and around the world. We remain dedicated to delivering innovative men’s, women’s and kids’ product and developing new marketing campaigns to support our efforts. We are looking forward to the back-to-school season, which we believe will be our strongest yet. The product success we achieved in the United States over the past six months is beginning to spread to markets around the world, and we believe our growth will accelerate in many of these countries. We continue to develop exciting new product and had a very positive reaction to our new lines with key accounts earlier this month, giving us a glimpse of what we expect will be a strong finish to the year. We are in a very strong position in the market with a buzz that is growing from consumers and the media. We believe that 2010 marks a new phase in SKECHERS’ development, and that we will continue to strategically grow — becoming one of the most sought after performance and lifestyle brands in the world.”
“SKECHERS’ top-line growth, significantly increased profitability and much improved margins are the result of our consistent efforts to deliver fresh, innovative product supported by relevant marketing around the world,” Mr. Weinberg added. “Our product is in high demand, inventory is clean, and our balance sheet continues to strengthen. At quarter end, our cash position was over $273 million, even though we accelerated factory payments of $64 million and made a capital contribution of $30 million to our distribution center joint venture. We broke ground during the second quarter on this new, more efficient, 1.8 million-square-foot facility in Rancho Belago, California. With a triple digit increase in backlogs and double digit retail store comps, we believe our momentum will continue.”
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the recent global economic slowdown and financial crisis; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s Form 10-K for the year ended December 31, 2009 and the Company’s Form 10-Q for the quarter ended March 31, 2010. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the Company cannot predict all such risk factors, nor can the Company assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS U.S.A., INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
June 30, December 31,
2010 2009
ASSETS
Current Assets:
Cash and cash equivalents $ 273,266 $ 265,675
Short-term investments - 30,000
Trade accounts receivable, net 304,992 219,924
Other receivables 7,526 12,177
Total receivables 312,518 232,101
Inventories 219,360 224,050
Prepaid expenses and other current assets 30,012 28,233
Deferred tax assets 8,950 8,950
Total current assets 844,106 789,009
Property and equipment, at cost less accumulated 236,709 171,667
depreciation and amortization
Intangible assets, less applicable amortization 8,147 9,011
Deferred tax assets 13,667 13,660
Other assets, at cost 33,213 12,205
TOTAL ASSETS $ 1,135,842 $ 995,552
LIABILITIES AND EQUITY
Current Liabilities:
Short-term borrowings $ 1,956 $ 2,006
Current installments of long-term borrowings 15,899 529
Accounts payable 191,653 196,163
Accrued expenses 22,142 31,843
Total current liabilities 231,650 230,541
Long-term borrowings, excluding current installments 14,532 15,641
Total liabilities 246,182 246,182
Equity:
Skechers U.S.A., Inc. equity 855,235 745,922
Noncontrolling interests 34,425 3,448
Total equity 889,660 749,370
TOTAL LIABILITIES AND EQUITY $ 1,135,842 $ 995,552
SKECHERS U.S.A., INC.
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(In thousands, except per share data)
Three Months Ended June 30, Six Months Ended June 30,
2010 2009 2010 2009
Net sales $ 504,859 $ 298,976 $ 997,623 $ 642,446
Cost of sales 267,214 176,373 522,560 394,414
Gross profit 237,645 122,603 475,063 248,032
Royalty income 875 332 1,260 604
238,520 122,935 476,323 248,636
Operating expenses:
Selling 52,437 34,813 86,746 56,323
General and 127,299 95,848 249,786 193,886
administrative
179,736 130,661 336,532 250,209
Income (loss) from 58,784 (7,726 ) 139,791 (1,573 )
operations
Other income (expense):
Interest, net 318 (331 ) 1,031 333
Other, net 1,611 245 1,820 27
1,929 (86 ) 2,851 360
Earnings (loss) before 60,713 (7,812 ) 142,642 (1,213 )
income taxes
Income tax expense 20,396 (1,186 ) 46,202 (1,939 )
(benefit from)
Net income (loss) 40,317 (6,626 ) 96,440 726
Less: Net income (loss)
attributable to 80 (699 ) (93 ) (1,567 )
noncontrolling interest
Net earnings (loss)
attributable to Skechers $ 40,237 $ (5,927 ) $ 96,533 $ 2,293
U.S.A., Inc.
Net earnings (loss) per
share attributable to
Skechers U.S.A., Inc.:
Basic $ 0.85 $ (0.13 ) $ 2.05 $ 0.05
Diluted $ 0.82 $ (0.13 ) $ 1.97 $ 0.05
Weighted average shares
used in calculating
earnings (loss) per share
attributable to Skechers
U.S.A., Inc.:
Basic 47,422 46,282 47,107 46,252
Diluted 49,130 46,282 48,955 46,424
by | Jul 21, 2010 | Press Release
Jul 21, 2010 • 4:00 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in lifestyle footwear, announced today that the Company’s conference call to review its fiscal 2010 second quarter financial results will be broadcast live over the internet on Wednesday, July 28, 2010 at 1:30 pm Pacific Time/4:30 pm Eastern Time. Participating on the call will be David Weinberg, Chief Operating Officer and Chief Financial Officer.
The call will be broadcast live over the Internet and can be accessed on the Investor Relations section of the Company’s website at www.skx.com. The call will be archived for two weeks. For those unable to participate during the live broadcast, a replay will be available beginning July 28, 2010 at 7:30 p.m. ET, through August 11, 2010 at 12:00 a.m. ET. To access the replay, dial 877-870-5176 (U.S.), and use passcode: 4328803.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit http://www.skechers.com.
by | Jun 10, 2010 | Press Release
Jun 10, 2010 • 9:05 am EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in the lifestyle footwear industry, today announced that it has signed a retail licensing agreement with footwear retailer Shuz 4 U Ltd. to open and operate SKECHERS-branded retail stores throughout Ireland.
Under the agreement, Shuz 4 U will open its first two SKECHERS-branded retail stores in Dublin and Cork City by the end of 2010. Like the SKECHERS company-owned retail stores, the new stores in Ireland will carry a broad selection of SKECHERS product for men, women and kids. Plans call for additional stores to roll out across Ireland over the next five years.
“Our ten branded SKECHERS stores in the United Kingdom give us a highly effective means to reach consumers,” began Michael Greenberg, president of SKECHERS. “This licensing partnership with Shuz 4 U allows us to leverage strong European SKECHERS brand recognition into an expansion of our retail foothold and build on the strong wholesale business we currently have in Ireland and the UK.”
“With great style, variety and pricing, SKECHERS truly is an ideal brand for Ireland,” said Paul Gallagher, managing director of Shuz 4 U. “We look forward to offering current and future SKECHERS fans the opportunity to discover this product within a destination shopping experience.”
Shuz 4 U Ltd. was established through a partnership between managing director Paul Gallagher and executive director Sunil Shah. The founders share over 50 combined years of experience in wholesale, distribution and retail of trend-driven clothing and footwear lines throughout Ireland.
“Sunil and Paul have an intuitive understanding of the SKECHERS consumer and a deep knowledge of the Irish market,” added Marvin Bernstein, managing partner for SKECHERS, S.a.r.l. “We believe this partnership in Ireland will be the first of many retail licensing opportunities around the globe.”
Currently, there are more than 380 SKECHERS company owned, franchised or licensed stores in some of the most attractive locations in 41 countries across 6 continents.
ABOUT SHUZ 4 U Ltd.
Managing director Paul Gallagher has worked with Ecco footwear and Pepe Jeans and launched his own brand, GASOLINE, in 1989. He was named runner up for Best Independent Young Fashion Retailer-UK/Ireland in 2005. Additionally, executive director Sunil Shah is CEO of Pepe Jeans Ireland and Country Manager for Tommy Hilfiger. Shah operates seven Pepe Jeans and 16 Tommy Hilfiger retail stores in Ireland.
ABOUT SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the global economic slowdown and the ongoing financial crisis and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in SKECHERS’ Form 10-K for the year ended December 31, 2009 and SKECHERS’ Form 10-Q for the quarter ended March 31, 2010. The risks included here are not exhaustive. SKECHERS and Shuz 4 U Ltd. operate in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
by | Jun 8, 2010 | Press Release
Jun 8, 2010 • 1:36 pm EDT
Footwear Company To Support SKECHERS Entertainment TV Debut with Giveaways in One Million Kids Shoe Boxes
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced that it is supporting SKECHERS Entertainment’s new animated kids’ television series Zevo-3 with a promotional sneak peek DVD insert in one million shoe boxes for back-to-school. The powerful push will set the stage for Zevo-3’s series premiere on Nicktoons this fall.
“We will leverage the marketing and promotional power of the SKECHERS brand at retail to raise the visibility of Zevo-3 in a truly impactful way,” said Kristen Van Cott, Vice President of Creative Development for SKECHERS Entertainment. “This promotion will generate brand awareness among the exact audience we need to reach. We are confident this will result in enhanced viewership once the series takes to the airwaves.”
What originated as a comic book promotion has evolved into a dynamic new comedy-action/adventure 2D animated series with 3D CGI effects. Zevo-3 (26 x 22) combines teen angst with superhero adventures and a healthy dose of humor to create a fresh entertainment property for kids.
In a city divided between old and new, between order and chaos, between truth and lies, Zevo-3’s young teen heroes suddenly are given powers they never asked for and are caught up in a conflict that started decades earlier. With their DNA changed in an instant by the Zevo compound, Jason (Z-Strap), Ellie (Elastika) and Matt (Kewl Breeze) discover that their superhero status has its ups and downs. What teenager wouldn’t want to have cool super powers? But with those powers come some very grown-up responsibilities, like battling the evil villain Stankfoot, whose army of genetically altered freaks and monsters threatens their city, their lives, and their world. Being a teenager just got a lot more complicated.
Marketing support for Zevo-3 also includes the pre-premiere launch of a Zevo-3 website, www.zevo-3.com. The interactive web site will include the Zevo-3 trailer, play games and information about the cast of characters.
Zevo-3 is a SKECHERS Entertainment production in association with Moonscoop. Kristen Van Cott and Elizabeth Daro are co-executive producers. The show is based on characters created by John Masse.
SKECHERS Entertainment: Established in 2009, Skechers Entertainment creates and markets quality programming for children of all ages across a wide range of platforms including television and DVD. Currently producing the animated television series Zevo-3, which will premiere this Fall in the U.S. on Nicktoons, Skechers Entertainment has a development docket including additional animated series as well as Direct-To-Video movies.
Based in Manhattan Beach, California, SKECHERS USA, Inc. designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. Please visit www.skechers.com.
Moonscoop Group: A leading worldwide production, distribution, brand management and entertainment company, Moonscoop focuses on producing original projects and building brands with international appeal and longevity. It is the world’s most prolific animation producer, producing many hours of original programming from its offices in the US and France. The company consists of some of the finest animation producers worldwide, complimented by a digital media arm which is heavily invested in launching new youth-oriented distribution channels on new media platforms such as IPTV, Mobile and Video On Demand (VOD). Moonscoop also features award-winning TV Distribution and Consumer Products divisions which help to bring the best-loved animated creations to global television and retail markets. For more information, visit www.moonscoop.com.
About Nicktoons
Nicktoons is the fastest growing kids’ network* and offers programming such as Fantastic Four: The World’s Greatest Heroes, Iron Man: Armored Adventures, Wolverine and The X-Men and Speed Racer: The Next Generation, as well as a roster of hits that have defined kids’ and animation lovers’ TV, including Avatar: The Last Airbender, Invader Zim, Danny Phantom, SpongeBob SquarePants, The Fairly OddParents and The Adventures of Jimmy Neutron, Boy Genius. Nicktoons currently reaches 57 million homes via cable, digital cable and satellite, and can be seen on Cablevision, Charter Communications, Comcast Cable, Cox Communications, DirecTV, DISH Network and Time Warner Cable. Nicktoons and all related titles and logos are property of Viacom, Inc. For more information, visit http://www.nickpress.com. *Nicktoons is the number-one fastest growing kids network with Kids 2-11 and Boys 2-11 in 2009 (Source: Nielsen Media Research, 12/29/08-12/27/09 vs. 12/31/07-12/28/08. Live + 7 Day AA%.)
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the global economic slowdown and the ongoing financial crisis and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ Form 10-K for the year ended December 31, 2009. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and Skechers cannot predict all such risk factors, nor can Skechers assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
by | Jun 3, 2010 | Press Release
Jun 3, 2010 • 9:05 am EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that Judge Marilyn Milian of the popular television courtroom reality series, The People’s Court, will be the next celebrity to join its charity-related “Nothing Compares to Family” advertising campaign.
Judge Milian will appear in the SKECHERS campaign with her husband, John, and their daughters Cristi, 13; Alex, 12; and Sofi, 8. Milian partnered with SKECHERS to raise awareness for Camp Fiesta, Inc.–a summer camp for cancer patients of the Children’s Cancer Caring Center in Florida.
“Judge Milian will be a fantastic addition to the SKECHERS ‘Nothing Compares to Family’ campaign,” began Michael Greenberg, president of SKECHERS. “As a family brand, this campaign is essential to SKECHERS and allows us to work with a variety of celebrities while supporting, and more importantly promoting, a wide range of deserving charities.”
“I love that SKECHERS has built this campaign around the importance of family,” said Milian. “We talk often about the value of charity in our house, so I love that through SKECHERS our family can raise awareness together for Camp Fiesta, an organization near and dear to my heart.”
Milian, a graduate of Georgetown Law, began her career as an Assistant State Attorney for the Dade County State Attorney’s Office. With a decade of experience, she was appointed to become a Miami County Court Judge in the Domestic Violence Court, Criminal and Civil divisions. In 1999, Florida Governor Jeb Bush appointed Milian as a Miami Circuit Court Judge, where she served in the Criminal Division. Leveraging all of her experience as both attorney and jurist, Milian became the first Latina judge of The People’s Court in 2001. She is currently in her 10th season on the popular show.
The SKECHERS “Nothing Compares to Family” campaign began in 2008, and it has starred some of today’s popular celebrity families while benefiting children’s charities with ads breaking in weekly magazines and other fashion and lifestyle glossies. Judge Milian joins a roster of celebrities that has included Tori Spelling, Brandy, Jack Coleman, Trista and Ryan Sutter, Holly Robinson Peete, Niki Taylor, Cesar Milan and most recently Brooke Burke.
ABOUT SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include international, national and local general economic, political and market conditions including the global economic slowdown and the ongoing financial crisis and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s Form 10-K for the year ended December 31, 2009 and the Company’s Form 10-Q for the quarter ended March 31, 2010. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the Company cannot predict all such risk factors, nor can the Company assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6314236&lang=en.
by | Jun 1, 2010 | Press Release
Jun 1, 2010 • 2:00 pm EDT
LOS ANGELES–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced that David Weinberg, the Company’s Chief Operating Officer and Chief Financial Officer, will be presenting at the Piper Jaffray Consumer Conference to be held in New York at the Westin New York at Times Square on June 8 – June 9, 2010.
SKECHERS’ investor presentation is scheduled for Tuesday, June 8, at 2:30 p.m. EDT.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.
