by | Apr 21, 2017 | Press Release
Apr 21, 2017 • 3:20 pm EDT
The PGA TOUR rising star swings to victory at the RBC Heritage wearing the Skechers GO GOLF® Pro 2
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance™ – a division of SKECHERS USA, Inc. (NYSE:SKX) – is thrilled to celebrate golf pro Wesley Bryan’s first PGA TOUR win on Sunday, April 16, 2017, at the RBC Heritage in Hilton Head Island, South Carolina. The Skechers GO GOLF® elite athlete made history as the first South Carolinian native to win the RBC Heritage since its inception in 1969. With his win, Bryan moves to 37th in the Official World Golf Rankings. While this is Bryan’s first PGA TOUR win, he had previously won three-times on the Web.com.
PGA TOUR golf pro and RBC Heritage champion, Wesley Bryan, wearing the Skechers GO GOLF Pro 2. (Photo: Business Wire)
“I grew up watching the RBC Heritage and dreamt of winning this tournament for many years,” says Bryan. “I can’t think of a better victory than this for my first PGA TOUR win. It makes bringing home the trophy even more satisfying. I could not have gotten here without my team, including Skechers Performance. This is a fantastic way to start our partnership and I look forward to winning even more titles with the brand.”
“We’ve been thrilled to have Wesley join the Skechers Performance family at the start of his already successful professional career,” says Skechers Performance Senior Vice President of Merchandising and Marketing, Rick Higgins. “We’re excited to have supported Wesley in his first PGA TOUR victory and we can’t wait to see him continue to thrive.”
A rising PGA TOUR star who had already established himself as a YouTube sensation with his brother, George, 27-year-old Bryan joined Skechers Performance as the new brand ambassador in spring 2017 and is featured in the current Skechers GO GOLF TV campaign. As part of the sponsorship, Bryan is outfitted in Skechers Performance GO GOLF footwear and apparel, and will also continue to be featured in marketing campaigns for the brand.
Known for lightweight designs, high quality comfort, shock-absorbing midsoles and superb stability, Skechers GO GOLF footwear has achieved prominence across the global sports market, alongside additional Skechers Performance footwear categories in running, walking and training. The GO GOLF branded apparel line offers athletes comfort and freedom of movement, with moisture-wicking fabric technology in a variety of colors and styles for men and women. The apparel line also includes new pieces that are influenced by Wesley Bryan’s modern aesthetic.
Skechers GO GOLF is available at Skechers retail stores, and select retail partners including golf pro shops and online at Skechers.com. Learn more about Skechers Performance at GOSkechers.com and follow us on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
For more information and/or images please contact Jolene Abbott at 310.318.3100 x4839 or [email protected].
ABOUT SKECHERS USA, INC.
SKECHERS USA, Inc., based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,055 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s 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 uncertainty of sustained recovery in Europe; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2016. 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 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 of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Jolene Abbott, 310-318-3100 x4839
[email protected]
by | Apr 20, 2017 | Press Release
Apr 20, 2017 • 4:01 pm EDT
Company’s First Quarter 2017 Financial Results Set Quarterly Net Sales Record
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the first quarter 2017.
First Quarter Highlights
- Record net sales of $1.073 billion, an increase of 9.6 percent
- Diluted earnings per share of $0.60
“First quarter 2017 net sales represent a new quarterly record and the first time we exceeded $1 billion in quarterly sales. We are particularly proud of the growth in the quarter considering the tough comparison to 2016, which included the benefit of an additional day in February and Easter falling in March,” began David Weinberg, chief operating officer and chief financial officer. “The growth was the result of double-digit increases in both our international distributor and subsidiary/joint venture businesses, as well as in our global Company-owned Skechers retail business. Further, in our domestic wholesale business, we shipped 4.5 percent more pairs than in the first quarter of 2016 but average price per pair decreased by 4.8 percent primarily due to stronger sales in our lower-priced lines including BOBS from Skechers and our sandal business.”
First Quarter Financial Results
Quarterly net sales increased 9.6 percent to $1.073 billion compared to first quarter 2016. The growth was the result of a 16.8 percent increase in the Company’s international wholesale business and a 12.8 percent increase in its Company-owned global retail business which included comparable same store sales increases of 2.9 percent.Additionally, the negative currency translation impact on its gross margins in its international wholesale and international Company-owned retail businesses for the first quarter was $6.1 million.The Company’s domestic wholesale net sales were relatively flat compared to the first quarter of last year.
Gross profit for the first quarter was $476.5 million, or 44.4 percent of net sales, compared to $432.2 million, or 44.2 percent of net sales, for the first quarter of last year.
First quarter selling expenses increased $19.9 million to $73.8 million, or 6.9 percent of sales, compared to $53.9 million, or 5.5 percent of sales, in the first quarter of the prior year. The increase was primarily due to increased international advertising and selling expenses.
General and administrativeexpenses for the first quarter increased $40.1 million to $282.5 million, or 26.3 percent of sales, compared to $242.3 million, or 24.8 percent of sales, in the prior year. The year-over-year quarterly increase was primarily due to Skechers’ focus on long-term global growth, including $13.2 million associated with the Company’s 59 additional domestic and international retail stores, and $18.3 million to support its international growth, of which $9.3 million was due to increased costs in China, $3.4 million for the transition of its South Korean distributor to a joint venture, $1.7 million in support of its new Latin America subsidiary, and $3.4 million in Japan. Domestic wholesale general and administrative expenses in the first quarter increased $8.6 million year-over-year primarily due to increased headcount in the United States to support its brand worldwide.
“Skechers’ international business, including retail, grew to 51.3 percent of our total sales in the first quarter due to the strength of our brand in numerous markets,” added Mr. Weinberg. “While we see opportunities in the United States to increase our business, we believe international markets continue to present the strongest opportunity for growth. To meet this growth in our international business, we continue to invest in our infrastructure and marketing to support the current and planned global expansion.”
Earnings from operations were $124.4 million, a decrease of 10.2 percent over the first quarter of 2016.
Net earnings decreased 3.7 percent to $94.0 million, and diluted net earnings per share were $0.60. The Company’s quarterly effective tax rate in the first quarter was 14.0 percent compared to 21.8 percent over the first quarter of 2016. The Company expects its effective tax rate to be between 14 percent and 19 percent in 2017. In addition, the Company’s gross margins were negatively impacted by approximately $6.1 million due to negative foreign currency translations and approximately $900,000 in pre-tax expenses related to foreign currency transaction losses during the first quarter of 2017. The Company’s operations in the United Kingdom were significantly impacted by currency headwinds as its wholesale sales were up 6.1 percent for the first quarter in local currency but down 8.2 percent in U.S. dollars.
Robert Greenberg, SKECHERS chief executive officer, commented: “In 2005, we surpassed $1 billion in annual sales, and now less than 12 years later, we had our first $1 billion plus in quarterly sales. The key to our success then and now is the drive, dedication and talent of the many people behind this great brand. We look very good from a product standpoint—with innovative, comfortable and beautiful footwear and now apparel—and in our marketing as well—with lifestyle campaigns featuring Rob Lowe, Meghan Trainor, Joe Montana, Howie Long, Sugar Ray Leonard, Brooke Burke-Charvet and Kelly Brook. Our success in performance footwear can be seen in our title sponsorship of the Skechers Performance Los Angeles Marathon, in the Pan-European Ironman where we are the footwear sponsor, and in our many pro golfers, including American medalist Matt Kucher, Canadian Brooke Henderson, Scotland’s Russell Knox, Spaniard Belen Mozo, and American Wesley Bryan, who just earned his first PGA Tour victory.”
Mr. Greenberg continued: “Our global footprint continues to grow with our ongoing success in Canada, Chile and China as well as in India, Australia and Turkey, and many other markets. This success is in part due to the expansion of Skechers retail stores around the world. At quarter end, there were 2,055 Skechers retail stores, including 1,471 third-party-owned locations, of which 551 are in China alone. We’ve come a long way since our first billion dollar year, and our first retail store in Manhattan Beach, but we plan to accomplish much more in product design, marketing and distribution. In the United States, we are the No. 1 Casual, Work, and Walking brand and the No. 2 All Footwear for Women*, and we believe we can reach these coveted positions in numerous other countries around the world. As we’ve begun showing our Spring 2018 lines to accounts this week, I’m looking forward to delivering our back-to-school product in June and July, and continuing to profitably grow Skechers this year and in the coming years.”
Balance Sheet
At year end, cash and cash equivalents was $607.8 million, an increase of $164.0 million, or 37.0 percent over March 31, 2016.
Total inventory, including inventory in transit, was $585.8 million, an increase of $84.0 million or 16.7 percent over March 31, 2016, and a decrease of $114.7 million or 16.4 percent over December 31, 2016. The increase over last year is primarily due to international and is in line with the Company’s backlogs, and growing retail and international wholesale business.
Working capital was $1.32 billion at March 31, 2017 versus $1.07 billion at March 31, 2016.
Mr. Weinberg continued: “We ended the first quarter with low double-digit increases in backlog on a worldwide basis, with all of our business units up a minimum of mid-single digits. Already in April, we’ve achieved high-single digit comps in our Company-owned retail stores, which benefited from Easter falling in April, and successfully launched YOU by Skechers in our stores and on skechers.com.”
Outlook
Based on these key indicators, the Company believes it will achieve net sales in the second quarter in the range of $950 million to $975 million, which would be a second quarter sales record, and earnings per share of $0.42 to $0.47. This projection includes flat to slightly positive sales increases in the Company’s domestic wholesale business, and increases in its international business and Company-owned retail stores.
The Company expects its ongoing capital expenditures for 2017 to be approximately $40 million to $45 million, which includes corporate office upgrades and an additional 50 to 75 Company-owned retail store openings and several store remodels, as well as an additional $25 million for infrastructure primarily in its China joint venture.
First Quarter 2017 Conference Call
The Company will host a conference call today at 1:30 p.m. PT / 4:30 p.m. Eastern Time to discuss its first quarter 2017 financial results. The call can be accessed on the Investor Relations section of the Company’s the website at www.skx.com. For those unable to participate during the live broadcast, a replay will be available beginning April 20, 2017, at 7:30 p.m. ET, through May 4, 2017, at 11:59 p.m. ET. To access the replay, dial 844-512-2921 (U.S.) or 412-317-6671 (International) and use passcode: 13658499.
*SportsOneSource, April 1, 2017
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,055 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s 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 uncertainty of sustained recovery in Europe; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2016. 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 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, |
|
December 31, |
|
|
2017 |
|
2016 |
| ASSETS |
|
|
|
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
| Cash and cash equivalents |
|
$ |
607,813 |
|
$ |
718,536 |
| Trade accounts receivable, net |
|
|
551,598 |
|
|
326,844 |
| Other receivables |
|
|
20,504 |
|
|
19,191 |
| Total receivables |
|
|
572,102 |
|
|
346,035 |
| Inventories |
|
|
585,814 |
|
|
700,515 |
| Prepaid expenses and other current assets |
|
|
60,568 |
|
|
62,680 |
| Total current assets |
|
|
1,826,297 |
|
|
1,827,766 |
| Property, plant and equipment, net |
|
|
502,658 |
|
|
494,473 |
| Deferred tax assets |
|
|
26,059 |
|
|
26,043 |
| Other assets |
|
|
50,697 |
|
|
45,388 |
| Total non-current assets |
|
|
579,414 |
|
|
565,904 |
| TOTAL ASSETS |
|
$ |
2,405,711 |
|
$ |
2,393,670 |
|
|
|
|
|
| LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Current installments of long-term borrowings |
|
$ |
1,788 |
|
$ |
1,783 |
| Accounts payable |
|
|
423,902 |
|
|
520,437 |
| Short-term borrowings |
|
|
6,303 |
|
|
6,086 |
| Accrued expenses |
|
|
81,590 |
|
|
93,424 |
| Total current liabilities |
|
|
513,583 |
|
|
621,730 |
| Long-term borrowings, net of current installments |
|
|
68,775 |
|
|
67,159 |
| Deferred tax liabilities |
|
|
431 |
|
|
412 |
| Other long-term liabilities |
|
|
20,408 |
|
|
18,855 |
| Total non-current liabilities |
|
|
89,614 |
|
|
86,426 |
| Total liabilities |
|
|
603,197 |
|
|
708,156 |
| Stockholders’ equity: |
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
|
1,707,156 |
|
|
1,603,633 |
| Noncontrolling interests |
|
|
95,358 |
|
|
81,881 |
| Total equity |
|
|
1,802,514 |
|
|
1,685,514 |
| TOTAL LIABILITIES AND EQUITY |
|
$ |
2,405,711 |
|
$ |
2,393,670 |
| |
| SKECHERS U.S.A., INC. AND SUBSIDIARIES |
| CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS |
| (Unaudited) |
| (In thousands, except per share data) |
| |
|
|
Three Months Ended March 31, |
|
|
|
2017
|
|
|
|
2016
|
|
| Net sales |
|
$ |
1,072,808 |
|
|
$ |
978,794 |
|
| Cost of sales |
|
|
596,310 |
|
|
|
546,642 |
|
| Gross profit |
|
|
476,498 |
|
|
|
432,152 |
|
| Royalty income |
|
|
4,230 |
|
|
|
2,625 |
|
|
|
|
480,728 |
|
|
|
434,777 |
|
| Operating expenses: |
|
|
|
|
| Selling |
|
|
73,809 |
|
|
|
53,878 |
|
| General and administrative |
|
|
282,496 |
|
|
|
242,349 |
|
|
|
|
356,305 |
|
|
|
296,227 |
|
| Earnings from operations |
|
|
124,423 |
|
|
|
138,550 |
|
| Other expense: |
|
|
|
|
| Interest, net |
|
|
(1,077 |
) |
|
|
(1,122 |
) |
| Other, net |
|
|
696 |
|
|
|
2,779 |
|
|
|
|
(381 |
) |
|
|
1,657 |
|
| Earnings before income tax expense |
|
|
124,042 |
|
|
|
140,207 |
|
| Income tax expense |
|
|
17,407 |
|
|
|
30,568 |
|
| Net earnings |
|
|
106,635 |
|
|
|
109,639 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
|
12,640 |
|
|
|
12,027 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
|
$ |
93,995 |
|
|
$ |
97,612 |
|
|
|
|
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
| Basic |
|
$ |
0.61 |
|
|
$ |
0.63 |
|
| Diluted |
|
$ |
0.60 |
|
|
$ |
0.63 |
|
|
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
| Basic |
|
|
155,097 |
|
|
|
153,745 |
|
| Diluted |
|
|
155,927 |
|
|
|
154,818 |
|
Company Contact:
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer,
Chief Financial Officer
(310) 318-3100
or
Investor Relations:
Addo Investor Relations
Andrew Greenebaum
(310) 829-5400
by | Apr 17, 2017 | Press Release
Apr 17, 2017 • 1:42 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– “YOU by Skechers”—a dynamic new collection from lifestyle and performance footwear leader Skechers—launched today online and in retail stores across the United States. Designed with a foundation in health and wellness, YOU by Skechers is for the young woman who wants to go from the office to the yoga studio to dinner in comfort and style.
“The YOU collection is an exciting crossover between our lifestyle lines and performance, and really speaks to the way the modern, busy woman is living her life,” says Kathy Kartalis, senior vice president of global product at Skechers. “This unique evolution for Skechers utilizes the best technologies and innovations from our Performance division and leverages that into a new collection that meets the lifestyle and wellness needs of the self-aware woman searching for more balance in her life.”
“We’ve seen an explosion in the desire for lightweight wellness footwear in the athleisure marketplace,” added Michael Greenberg, president of Skechers. “YOU by Skechers gives us the perfect opportunity to fuse the best aspects of both our performance and lifestyle experience to meet that need. We expect this versatile collection to resonate strongly with active women across multiple demographics.”
In coordination with the launch of YOU by Skechers, the Company will partner with four high-profile healthy living ambassadors—Koya Webb, a fitness model, vegan advocate and former track star; Danette May, a fitness star and social media influencer; superfood guru and yogi Sophie Jaffe; and NY Pilates expert Katie Yip. All four women will be integrating YOU into their everyday lives and on their social channels.
To drive direct engagement with the target audience of the YOU by Skechers collection, a community has been established under the @YOUbySkechers umbrella across social media platforms on Facebook (facebook.com/youbyskechers) and Instagram (Instagram.com/youbyskechers). Women who follow these channels will find access to our ambassadors as well as content featuring fashion, health and beauty tips as well as positive, inspiring and empowering messaging—all designed to keep them coming back for more.
The initial assortment of styles and colors from the YOU by Skechers collection can be found at Skechers retail stores, footwear and department stores as well as online at skechers.com. The range will expand with additional looks and colors available worldwide in the months ahead.
ABOUT SKECHERS USA, INC.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,012 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s 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 and opening of new stores, 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 uncertainty of sustained recovery in Europe; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2016. 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 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
Jennifer Clay
310.937.1326
by | Apr 13, 2017 | Press Release
Apr 13, 2017 • 1:00 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 2017 financial results after market close on Thursday, April 20, 2017. A conference call will be held the same day at 1:30 p.m. PT / 4:30 p.m. ET. Participating on the call will be David Weinberg, Chief Operating Officer and Chief Financial Officer.
The call can be accessed on the Investor Relations section of the Company’s website at www.skx.com. For those unable to participate during the live broadcast, a replay will be available beginning April 20, 2017, at 7:30 p.m. ET, through May 4, 2017, at 11:59 p.m. ET. To access the replay, dial 844-512-2921 (U.S.) or 412-317-6671 (International) and use passcode: 13658499.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,012 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
Addo Investor Relations
Andrew Greenebaum
310-829-5400
[email protected]
by | Apr 7, 2017 | Press Release
Apr 7, 2017 • 9:23 am EDT
Skechers Performance UK Releases a GOwalk 4™ Footwear Collection to support Breast Cancer Care
LONDON–(BUSINESS WIRE)– Skechers Performance UK Division, is thrilled to confirm their ongoing partnership with Breast Cancer Care, to help support women across the UK who are facing breast cancer. Skechers Performance UK will launch a month-long marketing campaign that includes in-store, print and social media activity. To re-launch the partnership, Skechers Performance UK are releasing a new, limited edition GOwalk 4™ footwear collection marked with the iconic breast cancer awareness pink ribbon, which will be available in SKECHERS retail stores from the 7th April and online April 1st, 2017.
“We are extremely proud to announce our continued partnership with Breast Cancer Care,” said Peter Youell, SKECHERS UK & Ireland Managing Director. “It is an important charity that provides significant care and support for those affected by breast cancer. Following the success of our first campaign, we wanted to further our support for the charity, and with this new collaboration, we wish to continue building awareness surrounding all the incredible work that Breast Cancer Care does. We are pleased to play a role in supporting their incredible work providing care, support and information to help thousands of people to find a way to live with, through and beyond breast cancer.”
Lizzie Iredale, Head of Corporate Partnerships at Breast Cancer Care added, “We are delighted that Skechers are continuing to support Breast Cancer Care. The funds Skechers raise will help us to continue to provide anyone affected by breast cancer with the best care, support and information when they need it most.
“Every year around 62,000 people are diagnosed with Breast Cancer in the UK, that’s around one person every ten minutes, so there’s never been such an urgent need for our support services.”
The Skechers Performance Breast Cancer Care collection is available in two Skechers GOwalk 4 styles, and will retail for £59.00. A donation of £5 per pair sold will be donated to the charity. The designs incorporate a black, white and charcoal colour pallet with the classic pink hue weaved in. Each style also features the iconic pink ribbon detailing on the heel. The Skechers GOwalk 4 shoes available in both slip-on and lace-up styles and features the new Skechers Goga Max® insole for the most advanced walking experience ever. The shoe also has responsive flexibility for a more natural movement and incorporates Goga Pillars™ for added comfort and a tapering midfoot for improved arch support.
The limited edition Skechers Performance Breast Cancer Care line is available at SKECHERS retail stores in the United Kingdom and online at Skechers.co.uk throughout April. The funds raised will help Breast Cancer Care continue to provide support for anyone affected by breast cancer.
For more information about breast cancer and the charity visit www.breastcancercare.org.uk.
To learn more about Skechers Performance visit www.skechers.co.uk and follow us on Facebook (facebook.com/SkechersPerformanceUK), Twitter (twitter.com/SKXPerformance)
ABOUT SKECHERS USA, INC.
SKECHERS USA, Inc., based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,012 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s 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 and opening of new stores, 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 uncertainty of sustained recovery in Europe; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2016. 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 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.
About Breast Cancer Care
When you have breast cancer, everything changes. Time becomes measured in appointments. The next scan. The next results. The next challenge.
At Breast Cancer Care, we understand the emotions, challenges and decisions you face every day. So, from the day you notice something’s not right to the day you begin to move forward, we’ll be here to help you through.
Whether you want to speak to our nurses, download our specialist information or connect with volunteers who have faced what you are facing now, we can help you feel more in control.
For care, support and information from day one, call us free on 0808 800 6000 or visit breastcancercare.org.uk
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Skechers
Nicola Zachariades
[email protected]
01707 655 955
by | Mar 14, 2017 | Press Release
Mar 14, 2017 • 8:45 am EDT
Global Leader in Performance Footwear Announces Extension as Title Sponsor of the Skechers Performance Los Angeles Marathon
LOS ANGELES–(BUSINESS WIRE)– Skechers Performance™, a division of SKECHERS USA, Inc. (NYSE:SKX), and Conqur Endurance Group, the organizer of the Skechers Performance Los Angeles Marathon, are pleased to announce a multi-year partnership extension of Skechers Performance’s title sponsorship of the Los Angeles Marathon. Last year marked the inaugural year of Skechers Performance’s title sponsorship.
The limited edition, Skechers GOrun Forza 2. Part of the 2017 Skechers Performance Los Angeles Marathon Official Race Merchandise. (Photo: Business Wire)
As the title sponsor, Skechers Performance – a Los Angeles-based company – will continue integrated marketing and communications programming to increase the footwear and apparel company’s visibility in the months leading up to and during race weekend, as well as amplify the brand along the course. Skechers Performance will also continue to maintain a strong footprint at the Health & Fitness EXPO, located at the Los Angeles Convention Center, taking place Friday, March 17th and Saturday, March 18th. The expanded booth space will allow Skechers Performance to display award-winning footwear styles as well as increase apparel and accessory offerings.
“We are proud to remain the title sponsor of the Los Angeles Marathon, especially since it is our local race and held in this incredible city, where we started Skechers back in 1992,” said Michael Greenberg, president, Skechers USA, Inc. “This year we are celebrating our 25-year milestone as an award-winning, global company headquartered in L.A., and being the title sponsor is one exciting example demonstrating the growth and success of the Company over the years.”
“As a global footwear brand with an ever-expanding reach, Skechers Performance is an ideal partner and we are equally thrilled to have them extend their title sponsorship with us,” said Tracey Russell, Chief Executive of Conqur Endurance Group. “Skechers Performance has shown a deep commitment to the participant experience through unmatched runner engagement, customized award-winning products and globally-integrated marketing and communications initiatives. The company’s reach and marketing acumen have been a tremendous support as we continue to increase our promotional activities worldwide.”
“Extending our partnership as the title sponsor of the Los Angeles Marathon demonstrates our dedication to the Los Angeles community and runners of all levels, from beginners in the sport to elite athletes such as those we sponsor,” said Rick Higgins, SVP, Merchandising/Marketing, Skechers Performance. “Our inaugural year was extremely rewarding and we continue to build on the success as we introduce new programs such as GORUNLA. We look forward to continuing to inspire race participants from around the world to meet and exceed their goals year-after-year.”
Excitement leading up to the race is mounting as Skechers Performance gears up to host over 60 runners from 35 countries as part of the brand’s 2017 GORUNLA campaign—a global marketing initiative that offers Skechers’ international partners the opportunity to partake in the marathon with a VIP experience. Additionally, the Company is proud to welcome back Skechers Performance elite athlete and the 2016 Skechers Performance Los Angeles Marathon defending champion—Weldon Kirui. Kirui won last year’s race with a time of 2:13:07 and broke the tape wearing the Skechers GOmeb Speed 3 – 2016™ shoes. The field for the 2017 race will also include Skechers Performance elite athletes Jose Madera, who placed seventh at last year’s race, Olympian Kavita Tungar, and American long-distance runner, Heather Lieburg.
The Skechers Performance Los Angeles Marathon will take place on Sunday, March 19, 2017. Registration is open and will remain open until March 15th. For more information and to register, visit www.lamarathon.com.
To learn more about Skechers Performance visit www.GOSkechers.com or follow on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
For more information and interview opportunities please contact Jolene Abbott at 310.318.3100, x4839, [email protected] or Molly Biddiscombe at 212.796.9826, [email protected].
ABOUT SKECHERS USA, INC.
SKECHERS USA, Inc., based in Manhattan Beach, California, 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 160 countries and territories worldwide via department and specialty stores, more than 2,012 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, throughout Europe and Latin America. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s 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 and opening of new stores, 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 uncertainty of sustained recovery in Europe; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2016. 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 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.
About Conqur Endurance Group
Conqur Endurance Group, a subsidiary of McCourt LP, creates world-class experiences that ignite passion in athletes and connect communities through the transformative power of sport. The Skechers Performance Los Angeles Marathon is among the largest marathons in the country with more than 24,000 participants, thousands of volunteers and hundreds of thousands of spectators. The “Stadium to the Sea” course, starting at Dodger Stadium and finishing near the Santa Monica Pier, is one of the most scenic in the world, taking runners on a tour of Los Angeles past every major landmark. In addition to the marquee event, Conqur Endurance Group produces the Santa Monica Classic 5K/10K, the LA BIG 5K and recently added the Pasadena Half Marathon & 5K at the Rose Bowl. For more information, please visit www.goconqur.com.
SKECHERS USA, Inc.
Jolene Abbott
310.318.3100 x4839
[email protected]
or
Molly Biddiscombe
212.796.9826
[email protected]