by Zach | Apr 18, 2019 | Press Release
Apr 18, 2019 • 8:00 am EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the first quarter ended March 31, 2019.
First Quarter Highlights
“The momentum we experienced in 2018 is continuing as we again achieved a new quarterly sales record in the first quarter of 2019,” began Robert Greenberg, chief executive officer of Skechers. “Our focus has been on designing and delivering relevant product across all genders and categories and supporting it with targeted marketing for our diverse consumer base. In the first quarter, Skechers GOrun Razor 3 Hyper received the Editor’s Choice award by Runner’s World, we were on fashion week runways in Berlin and London, launched both a new men’s campaign during the Super Bowl with football legend and broadcaster Tony Romo, and a fresh women’s campaign with pop superstar Camila Cabello, who appeared in Skechers D’Lites in store windows, magazines, and on television and billboards around the world. We also sponsored the Skechers Performance Los Angeles Marathon and several Skechers elite golfers and runners recorded victories. We are continuing to capitalize on the chunky trend we developed with our heritage styles across both men and women—with new styles shipping around the world throughout 2019. We are already seeing a positive impact in sales with the launch of our television campaigns for Spring, and we believe our momentum will continue into the second quarter. Further, we’re looking forward to meeting with our domestic and international accounts and partners over the next two months, presenting our new styles and marketing.”
“Achieving a new quarterly sales record, especially given our record first quarter last year, which also had the benefit of Easter and positive currency, is a noteworthy accomplishment,” stated David Weinberg, chief operating officer of Skechers. “Driving our first quarter 2019 growth was our international wholesale and global retail businesses. On a constant currency basis, our international sales growth was 15.0 percent and our total sales growth was 5.2 percent for the quarter. In the quarter, we also shipped a record number of pairs from our distribution centers in Japan and Europe, and we saw strong growth within our international distributors and joint ventures, including China. With a focus on building our global business, we converted our joint venture in India to a wholly owned subsidiary, and we finalized a joint venture agreement with our distribution partner in Mexico earlier this month. We expect these investments to be accretive in 2019, and for international, which now stands at 57.8 percent of our total business, to continue to drive growth.”
First Quarter 2019 Financial Results
($ in millions, except per share data)
2019
2018
$
%
Sales grew 2.1 percent as a result of a 9.3 percent increase in the Company’s international business, partially offset by a 6.3 percent decrease in its domestic business. On a constant currency basis, the Company’s international business increased 15.0 percent. By segments, the Company’s international wholesale business increased 8.7 percent, its Company-owned global retail business increased 6.7 percent, and the Company’s domestic wholesale business decreased 10.9 percent. Comparable same store sales in Company-owned stores and e-commerce increased 0.7 percent, including 0.2 percent in the United States and 2.3 percent internationally—excluding 61 stores in India that recently transitioned from third-party to company-owned.
Gross margins were slightly lower as improved margins in its Company-owned domestic retail business were offset by lower international margins from higher discounts and negative foreign exchange impacts.
SG&A expenses decreased 2.3 percent in the quarter. Selling expenses decreased by $14.2 million primarily due to lower domestic advertising levels. General and administrative expenses increased by $4.2 million but decreased as a percentage of sales. The increase reflects additional spending of $7.8 million to support operations in China and $8.0 million associated with operating 40 additional Company-owned Skechers stores, including 12 that opened in the first quarter. These expenses were partially offset by the receipt of a performance-based government rebate in China of $15.8 million.
Earnings from operations increased to $165.9 million, or 11.5 percent.
Net earnings were $108.8 million and diluted earnings per share were $0.71. In the first quarter, the Company’s effective income tax rate was 19.5 percent, reflecting the negative impact of several discrete items, totaling $0.02 per diluted share. In the prior year, the Company’s effective income tax rate was 9.6 percent, reflecting the positive impact of a discrete item associated with the Tax Cuts and Jobs Act, totaling $0.07 per diluted share.
Balance Sheet
At quarter-end, cash, cash equivalents and investments were $879.8 million, a decrease of $186.1 million, or 17.5 percent, from December 31, 2018, and an increase of $161.2 million, or 22.4 percent, over March 31, 2018.
Total inventory was $740.9 million, a $122.4 million or 14.2 percent decrease over December 31, 2018, and a $59.5 million or 7.4 percent decrease over March 31, 2018, reflecting reductions in both domestic and international markets.
Working capital was $1.66 billion at March 31, 2019, a $57.1 million decrease over December 31, 2018, and a $20.9 million increase over March 31, 2018.
At the beginning of the fiscal year, the Company adopted Accounting Standards Codification Topic 842, Leases (ASC 842), the new accounting standard impacting the treatment of operating leases. The effect of adopting ASC 842 was an increase to the Company’s assets and liabilities to reflect the right-of-use of leased properties as well as operating lease liabilities, respectively.
“Given the fairly challenging conditions of the quarter, we are quite pleased to have successfully executed against our strategy by continuing to grow sales and to profitably invest in our operations,” said John Vandemore, chief financial officer of Skechers. “We believe the underlying momentum in our business is strong, as evidenced by our backlog and current booking trends, as well as continued growth in our direct-to-consumer channels. We continue to invest in our infrastructure and operational capabilities across the globe, including development of our new China distribution center, breaking ground on the expansion of our corporate offices, and development of direct-to-consumer offerings both in our Company-owned e-commerce channels and in our retail stores.”
Share Repurchase
During the three months ended March 31, 2019, the Company repurchased approximately 458,000 shares of its Class A common stock at a cost of $15.0 million under its existing share repurchase program. At March 31, 2019, approximately $35.0 million remained available under the Company’s share repurchase program.
Outlook
For the second quarter of 2019, the Company believes it will achieve sales in the range of $1.200 billion to $1.225 billion, and diluted earnings per share of $0.30 to $0.35. This guidance takes into account the impact of existing foreign exchange headwinds and the commencement of joint venture operations in Mexico. Based on current expectations, the Company anticipates that its 2019 annual tax rate will be in the range of 17 percent to 20 percent.
First Quarter 2019 Conference Call
The Company will host a conference call today at 5:30 a.m. Pacific Time / 8:30 a.m. Eastern Time to discuss its first quarter 2019 financial results. The call can be accessed on the Investor Relations section of the Company’s website at www.investors.skechers.com. For those unable to participate during the live broadcast, a replay will be available beginning April 18, 2019, at 12:30 p.m. ET, through May 2, 2019, at 11:59 p.m. ET. To access the replay, dial 844-512-2921 (U.S.) or 412-317-6671 (International) and use passcode: 13689240.
About SKECHERS USA, Inc.
Based in Manhattan Beach, California, Skechers designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 170 countries and territories worldwide via department and specialty stores, more than 3,060 Skechers Company-owned and third-party-owned retail stores, and the Company’s e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, and throughout Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, and Twitter.
Reference in this press release to “Sales” refers to Skechers’ net sales reported under generally accepted accounting principles in the United States. This announcement also contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements 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 economic, political and market conditions including the challenging consumer retail markets in the United States; 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, especially in the highly competitive performance footwear market; 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’ annual report on Form 10-K for the year ended December 31, 2018. 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 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.
SKECHERS U.S.A., INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
March 31,
2019
December 31,
2018
4,127,413
3,228,255
SKECHERS U.S.A., INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(In thousands, except per share data)
2019
2018
Company Contact:
David Weinberg
Chief Operating Officer
John Vandemore
Chief Financial Officer
SKECHERS USA, Inc.
(310) 318-3100
Investor Relations:
Andrew Greenebaum
Addo Investor Relations
(310) 829-5400
Press:
Jennifer Clay
Vice President,
Corporate Communications
(310) 318-3100
Source: SKECHERS USA, Inc.
by Zach | Apr 11, 2019 | Press Release
Apr 11, 2019 • 4:24 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)–
SKECHERS USA, Inc. (NYSE: SKX), a global leader in lifestyle and
performance footwear, today announced that it will release its first
quarter 2019 financial results before market open on Thursday, April 18,
2019. A conference call will be held the same day at 8:30 a.m. ET / 5:30
a.m. PT. Participating on the call will be David Weinberg, Chief
Operating Officer, and John Vandemore, Chief Financial Officer.
The call can be accessed on the Investor Relations section of the
Company’s website at investors.skechers.com.
For those unable to participate during the live broadcast, a replay will
be available beginning April 18, 2019, at 12:30 p.m. ET, through May 2,
2019, at 11:59 p.m. ET. To access the replay, dial 844-512-2921 (U.S.)
or 412-317-6671 (International) and use passcode: 13689240.
About SKECHERS USA, Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs,
develops and markets a diverse range of lifestyle footwear for men,
women and children, as well as performance footwear for men and women.
Skechers footwear is available in the United States and over 170
countries and territories worldwide via department and specialty stores,
more than 3,000 Skechers Company-owned and third-party-owned retail
stores, and the Company’s e-commerce websites. The Company manages its
international business through a network of global distributors, joint
venture partners in Asia and the Middle East, and wholly-owned
subsidiaries in Canada, Japan, India, throughout Europe and Latin
America. For more information, please visit about.skechers.com and
follow us on Facebook,
Instagram,
and Twitter.
Investor Relations:
Addo Investor Relations
Andrew
Greenebaum
310-829-5400
[email protected]
Source: SKECHERS USA, Inc.
by Zach | Apr 8, 2019 | Press Release
Apr 8, 2019 • 1:58 pm EDT
Winningest male athlete in NCAA history continues his success in
professional career with sixth straight victory and achieves a new road
personal best
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)–
Skechers celebrates 17-time NCAA national champion Edward Cheserek’s win
at the 2019 Carlsbad 5000 in Carlsbad, CA on Sunday, April 7. At the
event known as the World’s Fastest 5K, the Skechers Performance elite
runner crossed the finish line in 13:29, tying the International
Association of Athletics Federation (IAAF) road world record, achieving
a new road 5K personal best, and crossing the finish line 25 seconds
ahead of the next runner.
Skechers Performance elite runner Edward Cheserek wins, achieves new personal best and ties the world record at Carlsbad 5000. (Photo: Business Wire)
Skechers Performance elite runner Edward Cheserek wins, achieves new personal best and ties the world record at Carlsbad 5000. (Photo: Business Wire)
Cheserek was joined on the podium by fellow Skechers Performance elite
Reid Buchanan, who finished third with 13:56.
“This race is legendary, and it’s been a goal of mine to win, and today
I not only won, but tied for the road world record and achieved a new
road PB (personal best)—it’s a great accomplishment,” said Cheserek, who
raced in Skechers GOrun Razor 3 Hyper™ shoes. “With Meb (Keflezighi) now
involved in this event, it’s even more special—he’s in a class of his
own and he’s part of the Skechers family. Skechers has supported me from
incredibly lightweight custom racing spikes to cheering me on today. I
can’t wait to race here again next year.”
Since the inaugural race in 1986, the World’s Fastest 5K has been more
than just a catchy tagline. Numerous records have been set throughout
the past 33 years, and the Carlsbad 5000 is an ever-tested proving
ground for racing. Skechers Performance elite marathoner Meb Keflezighi
headlines a group of local running industry leaders who took ownership
of the event in 2018.
“I love that one of my fellow Skechers Elite runners took home the
victory today!” added Meb Keflezighi. “It’s been an honor to join the
management team for Carlsbad 5000, and we all agree that Edward is an
amazing athlete and a deserving successor to the greats who have left
their mark on the World’s Fastest 5K.”
“We’re incredibly fortunate to be with Edward on this journey and so
proud of what he’s already accomplished after transitioning from college
to elite professional competition,” said Michael Greenberg, president of
Skechers. “He’s an inspiration to runners around the globe and an
amazing member of the Skechers Performance Team. We look forward to many
more events where he’s competing in our Skechers GOrun® footwear.”
Originally from Kenya, Cheserek attended Saint Benedict’s Preparatory
School in New Jersey, where he was named the Gatorade 2013 National
Cross Country Runner of the Year, before choosing to continue his
collegiate career at distance running powerhouse, University of Oregon.
In 2013, Cheserek became the first freshman in school history to win the
NCAA National Cross Country Championships, and would then go on to
repeat as cross country champion in his sophomore and junior years. By
the end of his collegiate career, Cheserek was the winningest male
athlete in NCAA Division I athletics’ history with a combined 17
national championships in cross country plus indoor and outdoor track
and field. After going pro in September 2017, he set a new PR in the
indoor mile with a win at the 2018 Boston University Valentine
Invitational. Wearing custom Skechers GOrun racing spikes, his time of
3:49.44 placed him at #2 all-time on the world record list for that
distance.
Since its debut with the first model of Skechers GOrun worn by Meb
Keflezighi in 2012, Skechers Performance footwear has earned respect
throughout the running world and won numerous awards within the footwear
industry—including the Skechers GOrun Razor 3 Hyper™ recently being
named Editors’ Choice by Runner’s World. The entire Skechers
GOrun collection for men and women is available at Skechers retail
stores and skechers.com as well as select retail partners.
About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs,
develops and markets a diverse range of lifestyle footwear for men,
women and children, as well as performance footwear for men and women.
Skechers footwear is available in the United States and over 170
countries and territories worldwide via department and specialty stores,
more than 3,000 Skechers Company-owned and third-party-owned retail
stores, and the Company’s e-commerce websites. The Company manages its
international business through a network of global distributors, joint
venture partners in Asia and the Middle East, and wholly-owned
subsidiaries in Canada, Japan, India, throughout Europe and Latin
America. For more information, please visit about.skechers.com and
follow us on Facebook, Instagram, and Twitter.
This announcement contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
without limitation, Skechers’ future domestic and international growth,
financial results and operations including expected net sales and
earnings, its development of new products, future demand for its
products, its planned domestic and international expansion, opening of
new stores and additional expenditures, and advertising and marketing
initiatives. Forward-looking statements 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 economic,
political and market conditions including the challenging consumer
retail markets in the United States; 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, especially in the
highly competitive performance footwear market; 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’ annual report on Form 10-K for the year ended
December 31, 2018. 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 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.
Media Contact:
Jennifer Clay
Skechers
[email protected]
Source: Skechers U.S.A., Inc.
by Zach | Mar 21, 2019 | Press Release
Mar 21, 2019 • 9:00 am EDT
Skechers Performance Elite
Athlete Weldon Kirui set to compete for record third victory at the race
LOS ANGELES–(BUSINESS WIRE)–
Skechers Performance returns as title sponsor for the 2019 Skechers
Performance™ Los Angeles Marathon® on Sunday, March 24. At the big event
and throughout race weekend, the performance brand will offer exclusive
race-branded merchandise to runners as well as fans. And the world will
be watching as 2016 and 2018 Skechers Performance Los Angeles Marathon
winner Weldon Kirui returns to compete for a record-breaking third
victory at the race.
Limited edition Skechers GO RUN Ride 7™ colorway for the 2019 Skechers Performance™ Los Angeles Marathon® (Photo: Business Wire)
Limited edition Skechers GO RUN Ride 7™ colorway for the 2019 Skechers Performance™ Los Angeles Marathon® (Photo: Business Wire)
“Now in our fourth year as title sponsor, we are proud to host more than
24,000 runners from across the United States and more than 60 countries,
who will join us in bringing this monumental event to life,” said
Michael Greenberg, president of Skechers. “From first-time marathoners
to seasoned runners and elite athletes to all the fans and supporters,
we look forward to the camaraderie and enthusiasm that this race creates
for Southern California. And we’ll be watching Skechers elite athlete
Weldon Kirui when he runs Sunday to attempt a record third victory on
this iconic course.”
Visitors to the Skechers Performance booth at the Health & Fitness EXPO
in the Los Angeles Convention Center will have the opportunity to meet
Weldon, as well as four-time Olympian Meb Keflezighi on Saturday, March
23 at 11AM. Meb will also be signing his new inspirational book, 26
Marathons: What I’ve Learned About Faith, Identity, Running, and Life
From Each Marathon I’ve Run (Rodale Books), which will be available
for purchase.
A collection of exclusive race-themed and inspired footwear and apparel
will be offered at the EXPO. Influenced by the colors of LA’s top sports
teams, the collection includes limited edition pairs of Skechers GO RUN
Forza 3™ and Skechers GO RUN Ride 7™. Additionally, a new color of the
Skechers GO RUN Razor 3 Hyper™ will debut and be available for purchase
at the EXPO—this new training and racing style features an innovative
Hyper Burst™ midsole and was recently named Editors’ Choice by Runner’s
World. The collection is currently available on Skechers.com and at
select Skechers retail stores in the Los Angeles area.
A two-time champion of the Los Angeles Marathon, Weldon was born and
raised in Kenya and is one of the most accomplished distance runners in
the world. His marathon personal best of 2:09:06 was set at the
Eindhoven Marathon in the Netherlands and his wins include the Kass
Marathon (Kenya National Championship in Eldoret) and the California
International Marathon in Sacramento. Weldon has also been the champion
of the AFC San Diego Half Marathon in California and the Krems Half
Marathon in Austria, setting his personal record at that distance in a
time of 61:10. When in Los Angeles, Weldon works with “Students Run
LA”—a program for at-risk high school students who learn goal-setting
and character development while receiving adult mentoring and improved
health by training to run the LA Marathon.
Since its debut with the first model of Skechers GO RUN® worn by Meb
Keflezighi in 2011, Skechers Performance footwear has earned respect
throughout the running world and won numerous awards within the footwear
industry. Skechers Elite runner Edward Cheserek trains, races and has
won numerous events in footwear featuring the new Hyper Burst midsole.
The Skechers GO RUN collection for men and women is available at
Skechers retail stores and skechers.com as well as select retail
partners.
About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs,
develops and markets a diverse range of lifestyle footwear for men,
women and children, as well as performance footwear for men and women.
Skechers footwear is available in the United States and over 170
countries and territories worldwide via department and specialty stores,
more than 3,000 Skechers Company-owned and third-party-owned retail
stores, and the Company’s e-commerce websites. The Company manages its
international business through a network of global distributors, joint
venture partners in Asia and the Middle East, and wholly-owned
subsidiaries in Canada, Japan, India, throughout Europe and Latin
America. For more information, please visit about.skechers.com and
follow us on Facebook, Instagram, and Twitter.
This announcement contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
without limitation, Skechers’ future domestic and international growth,
financial results and operations including expected net sales and
earnings, its development of new products, future demand for its
products, its planned domestic and international expansion, opening of
new stores and additional expenditures, and advertising and marketing
initiatives. Forward-looking statements 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 economic,
political and market conditions including the challenging consumer
retail markets in the United States; 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, especially in the
highly competitive performance footwear market; 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’ annual report on Form 10-K for the year ended
December 31, 2018. 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 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.
SKECHERS USA, Inc.
Jennifer Clay
[email protected]
310.937.1326
Source: Skechers U.S.A., Inc.
by Zach | Mar 19, 2019 | Press Release
Mar 19, 2019 • 12:00 pm EDT
LONDON, UNITED KINGDOM – 19 March 2019 – Skechers USA Ltd., a subsidiary of Skechers USA, Inc., has been named Children’s Brand of the Year at The 2019 Footwear Industry Awards 2019. Organized by Datateam Business Media, publisher of Footwear Today magazine, the Awards celebrate the brands, retailers and professionals at the heart of the footwear market.
“To receive this acknowledgment amongst such notable brands that were shortlisted in this category highlights the growing need for comfort-first footwear for children,” said Peter Youell, Managing Director of Skechers U.K. and Ireland. “From mini-me sneakers to trend-right shoes, Skechers leads the footwear industry in cutting-edge styles and the brand continues to experience growth after more than 25 years.”
“Thanks to the ongoing support from our retail partners, Skechers proudly accepts this award as a brand that caters to all demographics year after year,” said Marvin Bernstein, managing partner of Skechers S.à.r.l. “From light-up styles to brightly colored sneakers that boys and girls love, our innovation resonates with consumers and has been a driving factor for Skechers Kids in the UK—making this a key market for the brand.”
Skechers has been a perennial honoree at the Footwear Industry Awards, including Brand of the Year in 2015, 2016, and 2017. Additionally, Skechers won Ladies Brand of the Year in 2016 and 2018, Fashion Brand of the Year in 2014 and 2015, Sports Brand of the Year in 2012 and 2013, as well as Leader in Customer Service for 2018.
Skechers offers two distinct footwear categories: a lifestyle division which offers comfort-focused, trend-right product for men, women and kids, and the Skechers Performance Division for elite athletes and sports enthusiasts.
Styles from the Skechers Kids’ collection along with collections for men and women are available in Skechers retail stores, online at skechers.com, as well as department stores and footwear retailers around the globe.
About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 170 countries and territories worldwide via department and specialty stores, more than 3,000 Skechers Company-owned and third-party-owned retail stores, and the Company’s e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia and the Middle East, and wholly-owned subsidiaries in Canada, Japan, India, throughout Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, and Twitter.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements 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 economic, political and market conditions including the challenging consumer retail markets in the United States; 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, especially in the highly competitive performance footwear market; 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’ annual report on Form 10-K for the year ended December 31, 2018. 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 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.
Media Contact:
Charlie Green
SKECHERS USA, Inc.
[email protected]
01707 655 955
by Zach | Mar 11, 2019 | Press Release
Brooke Burke, Skechers Foundation president Michael Greenberg, and Denise Austin celebrate the 10th anniversary of the Skechers Pier to Pier Friendship Walk. (Photo: Business Wire)
Skechers Foundation president Michael Greenberg (second from right) and executive director Robin Curren (third from left) present Skechers Pier to Pier Friendship Walk donations to the Friendship Foundation. Check recipients included executive director Rabbi Yossi Mintz (far right) and managing director Nina Patel (center). (Photo: Business Wire)
Mar 11, 2019 • 3:15 pm EDT
The Walk’s Latest Event Raised More Than $2 Million for Children with Special Needs, Schools and College Scholarships
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The Skechers Foundation distributed checks for its largest-ever donations to children with special needs and education after a record-setting year at its 10th annual Skechers Pier to Pier Friendship Walk, sponsored by Nickelodeon and NBC4 Southern California. Celebrities Brooke Burke and Denise Austin as well as executives from Skechers and the foundations receiving donations were on hand for a check presentation ceremony at the Shade Hotel in Manhattan Beach, California on Thursday, March 7.
Brooke Burke, Skechers Foundation president Michael Greenberg, and Denise Austin celebrate the 10th anniversary of the Skechers Pier to Pier Friendship Walk. (Photo: Business Wire)
Among the presentations was nearly $600,000 to the non-profit organization Friendship Foundation to advance its efforts for children with special needs and their families. Additionally, checks totaling more than $1 million were presented to six education foundations. And the Skechers Foundation also continued its annual scholarship program, announcing that college scholarships will be awarded to exceptional high school students nationwide for the third year in a row.
“Since its start, the Walk has raised an incredible $11 million for our kids – and it’s all because of the tens of thousands of walkers, donors and sponsors who have believed in our event as passionately as we believe in our children,” said Michael Greenberg, president of Skechers. “For the past decade, they’ve supported and have rallied for us as we’ve grown into the largest event of our kind in the state. This event’s great success is really thanks to them.”
“The Skechers Pier to Pier Friendship Walk inspires, it educates, it empowers. A generation of children have benefitted from our love and support with new opportunities that came straight out of this event,” said Brooke Burke, a long-time supporter of the Skechers Pier to Pier Friendship Walk. “I’m so honored to take part in this annual tradition of inclusiveness, positivity and belief in our kids. It’s community movements like this that are changing our children’s lives.”
Exclusively funded by the Walk’s sponsors, the Skechers Foundation’s scholarship program will offer the high school class of 2019 the latest opportunity to receive scholarships based on need and exceptional achievements in academics, athletics and leadership. Administering the program is Scholarship America® – the nation’s largest designer and manager of scholarships, tuition assistance and education support programs. The application at www.SkechersFriendshipWalk.com is currently available to all high school seniors in the United States; winners will be announced in early June.
In just 10 years, the Skechers Pier to Pier Friendship Walk has grown from a passionate community of a thousand that raised $220,000 in 2009, into an annual, star-studded festival – attracting celebrities including South Bay fitness guru Denise Austin, sport legends like Sugar Ray Leonard and Tommy Lasorda, as well as Brooke Burke, Jimmy Kimmel, and more than 13,000 people in 2018 to support children with special needs and education. In addition to the Friendship Foundation, the Walk supports educational foundations committed to improving public schools – protecting teachers’ jobs, retaining STEM and vital academic and cultural programs, maintaining smaller class sizes, improving libraries and upgrading school technology.
Greenberg continued: “We want to extend special thanks to our co-presenter Nickelodeon, media sponsor NBC4 Southern California and the more than 100 companies with a conscience, who’ve returned year after year to support our Walk, instill confidence and joy in our kids with special needs, and inspire our kids to realize their dreams and all the ways they can shape the world.”
In addition to Nickelodeon and NBC4 Southern California, The Skechers Foundation thanks the many sponsors who have contributed to the Skechers Pier to Pier Friendship Walk’s successful first decade – from The Claudette & Ethan Rickett Care Foundation and United Legwear & Apparel to dozens of other companies who have lent their support.
About Skechers Foundation
The Skechers Foundation was established to provide families around the world with the necessities and skills to succeed in life. In addition to organizing the Skechers Pier to Pier Friendship Walk, the Skechers Foundation funds tax-exempt, 501(c)(3) nonprofit organizations that provide education and job training, shoes, clothing, fitness and nutrition guidance to communities in need.
About Skechers U.S.A., Inc.
Based in Manhattan Beach, California, Skechers (NYSE:SKX) designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 170 countries and territories worldwide via department and specialty stores, more than 3,000 Skechers Company-owned and third-party-owned retail stores, and the Company’s e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia and the Middle East, and wholly-owned subsidiaries in Canada, Japan, India, throughout Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, and Twitter.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements 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 economic, political and market conditions including the challenging consumer retail markets in the United States; 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, especially in the highly competitive performance footwear market; 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’ annual report on Form 10-K for the year ended December 31, 2018. 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 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.
Media Contact:
Jennifer Clay
SKECHERS USA, Inc.
[email protected]