by | Jan 12, 2010 | Press Release
Jan 12, 2010 • 9:00 am EST
- Fourth Quarter and Full Year 2009 Results to be released on February 17, 2010
LOS ANGELES–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that the Company expects its fourth quarter 2009 revenue will be in excess of $385 million compared to $298.1 million in the fourth quarter of the prior year. This represents an increase of over $87 million, or approximately 30 percent over the Company’s revenues for the prior year period. The Company expects diluted net earnings per share for its fourth quarter 2009 will be in excess of $0.50, compared with a net loss of $(0.44) in the fourth quarter of 2008.
“Our record sales and profitability for the fourth quarter is a meaningful accomplishment, especially given the challenging retail environment,” said David Weinberg, Chief Operating Officer and Chief Financial Officer of SKECHERS. “In the first six months of 2009, we cleared through excess inventory, returning to profitability in the second half of 2009 with fresh product and new initiatives that were strongly received. The enthusiasm for our product and marketing continued in the fourth quarter, resulting in an exceptional end to the year.”
“Our intent in 2009 was to deliver fresh looks on signature SKECHERS styles while offering the consumer new, innovative product from a brand they have come to trust — all at a reasonable price, which is essential in these challenging economic times,” said Robert Greenberg, Chairman and Chief Executive Officer of SKECHERS. “We believe the approximately 30 percent increase in the quarterly revenue over the prior year in spite of the continued soft retail environment speaks to the success of our product initiatives and marketing efforts, and our solid brand reputation. We look forward to continuing to meet our customers’ needs and further building on our momentum in 2010.”
Weinberg continued: “We believe this record quarter combined with our record 2009 third quarter is a testament to the strength of our brand and an indication of the growing demand and momentum for our footwear. Key indicators, including our backlog and comp store sales, lead us to believe the strong demand for our footwear will continue in 2010.”
The Company’s conference call to review its fourth quarter and full year fiscal 2009 financial results will be on Wednesday, February 17, 2010 at 1:30 pm Pacific Time or 4:30 pm Eastern Time. Participating on the call will be David Weinberg, Chief Operating Officer and Chief Financial Officer.
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; 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 eyewear 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, 2008 and Skechers’ Form 10-Q for the quarter ended September 30, 2009. 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.
by | Jan 7, 2010 | Press Release
Jan 7, 2010 • 9:00 am EST
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 ICR XChange Conference to be held on January 13-14, 2010, at The St. Regis Monarch Beach Resort & Spa in Dana Point, California.
SKECHERS’ investor presentation is scheduled for Wednesday, January 13, 2010 at 1:50 P.M. PST.
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.
by | Dec 23, 2009 | Press Release
Dec 23, 2009 • 11:22 pm EST
LOS ANGELES–(BUSINESS WIRE)– Vanessa Hudgens hosted an autograph signing event at the SKECHERS store in Universal CityWalk, Calif. on Sunday, December 20, 2009. During the event, which marked the end of a two-year endorsement agreement for Red by Marc Ecko footwear, the High School Musical star signed copies of her Ecko Red Holiday ad image – and Red by Marc Ecko shoes – for some 400 adoring fans.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6127057&lang=en
by | Dec 2, 2009 | Press Release
Dec 2, 2009 • 3:42 pm EST
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that it has signed a worldwide endorsement deal with Pro Football Hall of Fame quarterback Joe Montana in support of Shape-ups fitness footwear through 2010.
The endorsement deal will span all media, including print, television, and outdoor. Montana will be seen in territories around the globe wherever men’s Shape-ups are available.
“I truly believe in this product, which is why I’m looking forward to working with SKECHERS and sharing my Shape-ups experience with the world,” began Joe Montana. “I spent 16 years on a football field — it was an amazing time, but also pushed my body to its limit. Since I started walking in Shape-ups, I have noticed an improvement in my core strength, and the pressure on my back and knees has eased.”
“We’re very excited that Shape-ups will be endorsed by such a remarkable sports icon,” said Michael Greenberg, president of SKECHERS. “We’ve had great success entering the fitness segment with Shape-ups, and having Joe Montana, a true athlete and icon, represent the brand will bring greater recognition to the brand in the sports world.”
Joe Montana kicked off his storied football quarterback career by leading the University of Notre Dame to the championship game in 1977. He followed that with 14 seasons on the San Francisco 49ers, where he drove the team to an incredible four Super Bowl victories. Montana eventually played his final two NFL seasons with the Kansas City Chiefs before retiring in April 1995. With extraordinary career stats covering passes completed (3,409), yards passing (40,551), and touchdown passes (273), Montana was inducted into the Pro Football Hall of Fame in 2000.
Shape-ups from SKECHERS are technical walking shoes designed to promote weight loss, tone muscles and improve posture. Shape-ups have a kinetic wedge midsole that simulates walking on a soft surface like sand, providing natural instability that causes the wearer to use more energy with every step. The men’s and women’s fitness footwear line is available in sporting goods, department and specialty athletic stores around the world.
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; 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, 2008 and the Company’s Form 10-Q for the quarter ended September 30, 2009. 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=6112540&lang=en
by | Dec 1, 2009 | Press Release
Dec 1, 2009 • 9:00 am EST
LOS ANGELES–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced that David Weinberg, the Company’s Chief Operating Officer and Chief Financial Officer, will present at the Wedbush Securities 10th Annual California Dreamin’ MAC: Management Access Conference to be held at The Fairmont Miramar Hotel in Santa Monica, California on December 8-9, 2009. The Company’s presentation is scheduled to begin on Wednesday, December 9, 2009, at 1:30 P.M. PST.
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. Please visit www.skechers.com or call the Company’s information line at 877-INFO-SKX.
by | Nov 10, 2009 | Press Release
Nov 10, 2009 • 9:05 am EST
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle footwear industry, today announced that it signed a licensing agreement with Strategic Partners, Inc., the makers of Cherokee Medical Apparel, to create and distribute a SKECHERS-branded line of apparel for nurses and other healthcare professionals that will launch in January 2010.
The SKECHERS collection will feature a younger, more flattering fit than traditional medical apparel. Through innovative silhouettes, prints and fabrications, the line will utilize ready-to-wear trends in basics like scrubs, pants, jackets and tees. Branded designer accents will include SKECHERS logo buttons, flag labels, jacquard ribbons, and zipper pulls. The SKECHERS medical apparel line will be available in a wide range of sizes.
“Doctors and nurses already love our SKECHERS WORK non-slip footwear products,” said Michael Greenberg, president of SKECHERS. “This new medical apparel line perfectly complements our workplace footwear offerings and will be a fantastic extension to the SKECHERS brand and lifestyle within medical environments.”
“SKECHERS Medical Apparel represents the fashionable, fun and feminine side of caregivers who want to allow their style sense to carry over into their jobs,” said Michael Singer, CEO of Strategic Partners, Inc. “SKECHERS is in strong demand around the world, and creating SKECHERS branded medical apparel will give healthcare professionals the opportunity to indulge their personal sense of style while on the job.”
SKECHERS Medical Apparel will be available at independent uniform retail stores and in catalogs.
About Strategic Partners, Inc.
Strategic Partners, Inc. is a recognized national leader in the design and manufacturing of medical, school, and footwear uniform categories. It distributes medical apparel under the labels of Cherokee, SKECHERS, Disney, Baby Phat, the NFL, and others. The company supports nurses and other healthcare professionals through the “Cherokee Inspired Comfort Awards,” a national awards program, scholarships for students enrolled in nursing schools, and an inspirational film for nurses “A Nurse I Am” (www.anurseiam.com). The corporation’s home office is in Chatsworth, California, with a state-of-the-art distribution center in Dallas, Texas.
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; 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 the company’s 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, 2008 and the Company’s Form 10-Q for the quarter ended June 30, 2009. 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.
