by | Feb 9, 2017 | Press Release
Feb 9, 2017 • 4:01 pm EST
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the fourth quarter and year ended December 31, 2016.
Quarterly and Fiscal Year Highlights
- Record fourth quarter net sales of $764.3 million, an increase of 5.8 percent, and record annual net sales of $3.56 billion, an increase of 13.2 percent
- Earnings from operations of $28.3 million for the fourth quarter and $370.5 million for the year
- Net earnings of $6.7 million for the fourth quarter and $243.5 million for the year
- Diluted earnings per share of $0.04 for the fourth quarter and $1.57 for the year
“Skechers achieved new fourth quarter and full-year net sales records, exceeding our fourth quarter guidance range of $710 million to $735 million,” began David Weinberg, chief operating officer and chief financial officer. “The strong quarterly growth was primarily the result of a 17.1 percent increase in our international wholesale business, led by China with an increase of 48.5 percent. In addition, our global Company-owned retail business grew 13.9 percent on a store base of 571 at year-end. Combined with our third-party owned stores, we had 2,012 Skechers stores worldwide at year-end, creating a global network that includes more than 500 locations in China, more than 60 in each of India, Mexico and Saudi Arabia, and over 50 in each of Australia, Malaysia, South Korea and Taiwan.”
Fourth Quarter Financial Results
Quarterly net sales increased 5.8 percent to $764.3 million compared to fourth quarter 2015. The growth was the result of a 17.1 percent increase in the Company’s international wholesale business and a 13.9 percent increase in its Company-owned global retail business which included comparable same store sales increases of 3.6 percent.Additionally, the negative currency translation impact on its gross margins in its international wholesale and international Company-owned retail businesses for the fourth quarter was $18.4 million.The net sales increases were offset by a decrease of 11.8 percent in the Company’s domestic wholesale business, which included a 4.6 percent decrease due to the launch of the Star Wars footwear collection in the fourth quarter of 2015.
Gross profit for the fourth quarter was $356.2 million, or 46.6 percent of net sales, compared to $329.9 million, or 45.6 percent of net sales, for the fourth quarter of last year. Historically, gross margins for its retail segment are the highest, followed by gross margins for international subsidiary sales and then domestic wholesale sales, with gross margins for its international distributor sales being the lowest. The slightly higher gross margin during the quarter was due to a combination of increased international subsidiary revenues and margins, reduced domestic wholesale and international distributor sales and margins, which were offset by lower retail margins.
Fourth quarter selling expenses increased $1.6 million to $59.5 million, or 7.8 percent of sales, compared to $57.9 million, or 8.0 percent of sales, in the fourth quarter of the prior year. The increase was primarily due to increased international advertising expenses.
General and administrativeexpenses for the fourth quarter increased $52.3 million to $273.4 million, or 35.8 percent of sales, compared to $221.1 million, or 30.6 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 $15.3 million associated with the Company’s 53 additional domestic and international retail stores, and $27.0 million to support its international growth, of which $19.0 million was due to increased costs in China, $2.8 million for the transition of its South Korean distributor to a joint venture, $2.3 million in support of its new Latin America subsidiary, and $3.2 million in Japan. Domestic wholesale general and administrative expenses increased $10.0 million during the fourth quarter primarily due to increased headcount in the United States to support its brand worldwide.
“We are in our 25th year of business, have a well-established brand and prominent position in the United States, and have grown our international business to 46.1 percent of our 2016 sales,” added Mr. Weinberg. “As we plan for our international business to grow to 50 percent of our total sales in the near future, we transitioned several of our international distributors to joint ventures or subsidiaries in key regions in 2016 and the few years prior, and have been investing in the infrastructure and marketing to support the current and planned growth. In the fourth quarter, these investments were primarily in China, Korea Japan and Latin America, which are regions that we believe will represent great growth opportunities.”
Earnings from operations were $28.3 million, a decrease of 48.3 percent over the fourth quarter of 2015.
Net earnings decreased 77.4 percent to $6.7 million, while diluted net earnings per share for the fourth quarter were $0.04, compared with $0.19 for the fourth quarter in the prior year. The Company’s annual effective tax rate for 2016 increased to 20.6 percent from 19.9 percent as of September 30, 2016, which increased its fourth quarter 2016 effective tax rate to 31.5 percent and reduced its earnings per share by $0.02. In addition, the Company’s gross margins were negatively impacted by approximately $18.4 million due to negative foreign currency translations and an additional $4.6 million in pre-tax expenses related to foreign currency transaction losses during the fourth quarter of 2016. Further, the Company’s business in the United Kingdom was significantly impacted by currency headwinds as its wholesale sales were flat during the fourth quarter in local currency but down 17.9 percent in U.S. dollars.
2016 Financial Results
Net sales were $3.56 billion, gross profit was $1.63 billion or 45.9 percent of net sales, and earnings from operations were $370.5 million or 10.4 percent of net sales. Net earnings were $243.5 million and diluted net earnings per share were $1.57 per share.
Robert Greenberg, SKECHERS chief executive officer, commented: “With record annual sales of over $3.56 billion, 2016 was another significant growth year for Skechers. We remained the number two sport footwear brand in the United States, and the number one walking brand, work brand, and dress/comfort casual brand*, and received the 2016 Plus Award for Children’s Design from Footwear Plus. We believe we are continuing to increase market share around the globe as we experience the strongest growth coming from our international businesses. Our continued growth and strong market position is due to aggressively revamping our product lines to include more youthful, relevant and innovative styles, while still creating comfort footwear that our broad consumer base finds appealing. We expect that 2017, Skechers’ 25th year of business, will be an even more remarkable in terms of product and sales. Our speed to market and ability to react and deliver as trends arise gives us the flexibility to pivot as necessary. When it comes to design, we are focused on the domestic market as well as our international markets as we provide a product offering that resonates around the world. We are looking forward to delivering our new collections across all our divisions for men, women and kids—included lighted footwear, a new line from our Skechers Performance Division, and a new product line perfect for the Millennials and Post-Millennials—and believe that we will remain a leading global footwear company.”
Balance Sheet
At year end, cash and cash equivalents was $718.5 million, an increase of $210.5 million, or 41.4 percent over last year.
Total inventory, including inventory in transit, was $700.5 million, an $80.3 million increase, or 12.9 percent, over December 31, 2015, in line with the Company’s incoming order rate, backlogs, and growing retail and wholesale business.
Working capital was $1.2 billion versus $971.2 million at December 31, 2015.
Mr. Weinberg continued: “We ended 2016 with positive domestic and international backlogs, and the highest incoming order rate for our domestic wholesale, subsidiary and distributor businesses in our history for both the fourth quarter and full year. Already in 2017, we’ve achieved mid-single-digit comps in January and high single-digit comps for the first week of February in our Company-owned retail stores on a worldwide basis. Based on these key indicators, combined with the many new products delivering later this year—including the domestic launch of You by Skechers in the second quarter—we believe the remainder of the year is on a favorable growth track, and we are well positioned for another record year.”
Outlook
Despite an all-time net sales record in the first quarter of 2016 and Easter falling into the second quarter in 2017, the Company believes it will achieve flat to slightly positive sales in its domestic wholesale business, and increases in its international business and Company-owned retail stores. The Company expects net sales in the range of $1.050 billion to $1.075 billion and earnings per share of $0.50 to $0.55 for the first quarter of 2017.
The Company expects its ongoing capital expenditures for 2017 to be approximately $50 million to $55 million, which includes corporate office upgrades and an additional 70 to 90 Company-owned retail store openings and several store remodels, and an additional $25 million for infrastructure primarily in its China joint venture.
Fourth Quarter and Full Year 2016 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 fourth quarter and full year 2016 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 February 9, 2017, at 7:30 p.m. ET, through February 23, 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: 13652980.
*SportsOneSource, January 5, 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 2,012 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, 2015 and its quarterly report on Form 10-Q for the three months ended September 30, 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) |
|
|
|
|
|
|
|
December 31,
2016
|
|
December 31,
2015
|
| ASSETS |
|
|
|
|
| Current Assets: |
|
|
|
|
| Cash and cash equivalents |
|
$ |
718,536 |
|
$ |
507,991 |
| Trade accounts receivable, net |
|
|
326,844 |
|
|
343,930 |
| Other receivables |
|
|
19,191 |
|
|
18,661 |
| Total receivables |
|
|
346,035 |
|
|
362,591 |
| Inventories |
|
|
700,515 |
|
|
620,247 |
| Prepaid expenses and other current assets |
|
|
62,680 |
|
|
57,363 |
| Total current assets |
|
|
1,827,766 |
|
|
1,548,192 |
| Property, plant and equipment, net |
|
|
494,473 |
|
|
435,907 |
| Deferred tax assets |
|
|
26,043 |
|
|
17,825 |
| Other assets |
|
|
45,388 |
|
|
37,954 |
| Total non-current assets |
|
|
565,904 |
|
|
491,686 |
| TOTAL ASSETS |
|
$ |
2,393,670 |
|
$ |
2,039,878 |
| LIABILITIES AND EQUITY |
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Current installments of long-term borrowings |
|
$ |
1,783 |
|
$ |
15,653 |
| Accounts payable |
|
|
520,437 |
|
|
473,983 |
| Short-term borrowings |
|
|
6,086 |
|
|
59 |
| Accrued expenses |
|
|
93,424 |
|
|
87,318 |
| Total current liabilities |
|
|
621,730 |
|
|
577,013 |
| Long-term borrowings, net of current installments |
|
|
67,159 |
|
|
68,942 |
| Deferred tax liabilities |
|
|
412 |
|
|
8,507 |
| Other long-term liabilities |
|
|
18,855 |
|
|
9,682 |
| Total non-current liabilities |
|
|
86,426 |
|
|
87,131 |
| Total liabilities |
|
|
708,156 |
|
|
664,144 |
| Stockholders’ equity: |
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
|
1,603,633 |
|
|
1,327,556 |
| Noncontrolling interests |
|
|
81,881 |
|
|
48,178 |
| Total equity |
|
|
1,685,514 |
|
|
1,375,734 |
| TOTAL LIABILITIES AND EQUITY |
|
$ |
2,393,670 |
|
$ |
2,039,878 |
| |
| |
| SKECHERS U.S.A., INC. AND SUBSIDIARIES |
| CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS |
| (Unaudited) |
| (In thousands, except per share data) |
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
| Net sales |
|
$ |
764,290 |
|
|
$ |
722,683 |
|
|
$ |
3,563,311 |
|
|
$ |
3,147,323 |
|
| Cost of sales |
|
|
408,078 |
|
|
|
392,829 |
|
|
|
1,928,715 |
|
|
|
1,723,315 |
|
| Gross profit |
|
|
356,212 |
|
|
|
329,854 |
|
|
|
1,634,596 |
|
|
|
1,424,008 |
|
| Royalty income |
|
|
4,983 |
|
|
|
3,921 |
|
|
|
13,885 |
|
|
|
11,745 |
|
|
|
|
361,195 |
|
|
|
333,775 |
|
|
|
1,648,481 |
|
|
|
1,435,753 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| Selling |
|
|
59,502 |
|
|
|
57,934 |
|
|
|
257,129 |
|
|
|
235,586 |
|
| General and administrative |
|
|
273,431 |
|
|
|
221,133 |
|
|
|
1,020,834 |
|
|
|
849,343 |
|
|
|
|
332,933 |
|
|
|
279,067 |
|
|
|
1,277,963 |
|
|
|
1,084,929 |
|
| Earnings from operations |
|
|
28,262 |
|
|
|
54,708 |
|
|
|
370,518 |
|
|
|
350,824 |
|
| Other expense: |
|
|
|
|
|
|
|
|
| Interest, net |
|
|
(1,472 |
) |
|
|
(1,969 |
) |
|
|
(5,084 |
) |
|
|
(10,006 |
) |
| Other, net |
|
|
(4,640 |
) |
|
|
(2,141 |
) |
|
|
(5,950 |
) |
|
|
(7,321 |
) |
|
|
|
(6,112 |
) |
|
|
(4,110 |
) |
|
|
(11,034 |
) |
|
|
(17,327 |
) |
| Earnings before income tax expense |
|
|
22,150 |
|
|
|
50,598 |
|
|
|
359,484 |
|
|
|
333,497 |
|
| Income tax expense |
|
|
6,981 |
|
|
|
12,108 |
|
|
|
74,125 |
|
|
|
72,450 |
|
| Net earnings |
|
|
15,169 |
|
|
|
38,490 |
|
|
|
285,359 |
|
|
|
261,047 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
|
8,505 |
|
|
|
9,042 |
|
|
|
41,866 |
|
|
|
29,135 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
|
$ |
6,664 |
|
|
$ |
29,448 |
|
|
$ |
243,493 |
|
|
$ |
231,912 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.04 |
|
|
$ |
0.19 |
|
|
$ |
1.58 |
|
|
$ |
1.52 |
|
| Diluted |
|
$ |
0.04 |
|
|
$ |
0.19 |
|
|
$ |
1.57 |
|
|
$ |
1.50 |
|
|
|
|
|
|
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
| Basic |
|
|
154,658 |
|
|
|
153,346 |
|
|
|
154,169 |
|
|
|
152,847 |
|
| Diluted |
|
|
155,405 |
|
|
|
154,570 |
|
|
|
155,084 |
|
|
|
154,200 |
|
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 | Feb 2, 2017 | Press Release
Feb 2, 2017 • 9:00 am EST
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 fourth quarter and full year 2016 financial results after market close on Thursday, February 9, 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 February 9, 2017, at 7:30 p.m. ET, through February 23, 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: 13652980.
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 1,710 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).
Investor Relations:
Addo Investor Relations
Andrew Greenebaum, 310-829-5400
[email protected]
by | Feb 2, 2017 | Press Release
Feb 2, 2017 • 9:00 am EST
The Hall of Fame Quarterback Returns for His Latest Men’s Footwear Campaign
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) announced that the Company has re-signed Hall of Fame quarterback and longtime collaborator Joe Montana to rejoin SKECHERS’ all-star line-up. Montana will appear in a worldwide, multi-tiered TV, print and digital campaign for the Company’s men’s footwear through 2018.
Joe Montana is back in SKECHERS Sport (Photo: Business Wire)
“Joe Montana is one of America’s most beloved football legends – and he was the first to promote our Relaxed Fit footwear collection in 2012,” said Michael Greenberg, president of SKECHERS. “We’re thrilled to have Joe back to support our casual and athletic collections designed with comfort that has become legendary in its own right to millions of fans over the years.”
“With SKECHERS, you know you’re going to get comfort and reliability,” said Joe Montana. “When I first appeared in their Relaxed Fit ads, I was impressed by the comfort of the shoes – and I love their Air-Cooled Memory Foam insoles. Now that there are so many styles, SKECHERS has turned this into a lifestyle people love. It’s great to back the comfortable men’s footwear collections in the company of individuals like Howie Long and Sugar Ray Leonard.”
Previous SKECHERS men’s campaigns have featured iconic drummer Ringo Starr and sports stars Joe Namath, Ronnie Lott, Tommy Lasorda, Mark Cuban, Karl Malone, Kareem Abdul-Jabbar, Rick Fox and Wayne Gretzky.
In recent years, the range of SKECHERS men’s footwear has expanded to include a wide array of trend-right casual and sport styles, and innovations such as SKECHERS Air-Cooled Memory Foam for long-lasting comfort. Styles from the SKECHERS men’s collection are available in SKECHERS retail stores as well as department stores and footwear retailers around the globe.
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 1,710 SKECHERS Company-owned and third-party 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, the completion of the expansion and upgrade of the Company’s European Distribution Center, 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; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and its quarterly report on Form 10-Q for the three months ended September 30, 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 USA, Inc.
Jennifer Clay, 310.937.1326
by | Jan 24, 2017 | Press Release
Jan 24, 2017 • 8:45 am EST
Skechers Performance Elite Athletes Team Up for the 2017 GO GOLF Campaign
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance™, a division of Skechers USA, Inc. (NYSE:SKX), will debut the first in a series of new GO GOLF commercial spots at the 2017 PGA Merchandise Show on January 24, 2017. The new campaign stars Skechers GO GOLF’s roster of elite athletes including Matt Kuchar, Billy Andrade, Wesley Bryan, Russell Knox, Ashlan Ramsey, Belén Mozo and Brooke Henderson in various comedic settings. Visitors at the PGA Show and local Orlando residents will be able to see a sneak peek of the campaign in a limited release commercial spot on January 24th – 27th.
Skechers GO GOLF athletes from left to right: Russell Knox, Wesley Bryan, Matt Kuchar and Billy Andrade. (Photo: Business Wire)
The new campaign plays off of the fun, tongue-in-cheek tone of the previous “GO GOLF Tips with Matt Kuchar” campaign, but with fresh, new angles and new athletes. The new GO GOLF commercials will roll out several spots throughout 2017 in which viewers will hear what Matt Kuchar really thinks about while gearing up for his final putt at a Major (hint, hot dogs). They will also see a playful argument between Belén Mozo and Brooke Henderson (comfort vs. style) with Ashlan Ramsey refereeing. Additionally, Wesley Bryan will make his Skechers GO GOLF commercial debut, as will Russell Knox, as he tests out the new GO GOLF Focus in less than favorable wind conditions.
“We’ve been eagerly anticipating the launch of our new spring 2017 GO GOLF collection and the feedback has been incredible,” said Rick Higgins, SVP of Merchandising/Marketing, Skechers Performance. “We’ve combined comfort with cutting-edge technology to create the best-in-class performance footwear that golfers will enjoy wearing. Our new marketing campaign for 2017 brought together our roster of elite golfers to highlight the comfort and functional footwear story and you will see from the commercial spots that we also had a lot of fun.”
The footwear featured in the new commercial spots includes the 2017 Skechers GO GOLF Focus (a new stability shoe), the GO GOLF Pro 2, GO GOLF Elite 2 and the GO GOLF Birdie for women. All styles have the innovative performance technologies and comfort that Skechers Performance is known for, such as the lightweight and responsive 5GEN midsole cushioning.
The new 2017 spring line is now available and will be on display at the Skechers Performance booth number 1059, along with new Skechers GO GOLF apparel for men and women.
Finally, visitors will have a chance to meet Skechers GO GOLF athletes in person. Colin Montgomery will be at the Skechers Performance booth number 1059 on Wednesday, January 25th, from 1:00 pm to 3:00 pm and Billy Andrade will be signing autographs on Thursday, January 26th from 1:00 pm – 3:00 pm.
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 interview opportunities 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 1,545 SKECHERS Company-owned and third-party 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, the completion of the expansion and upgrade of the Company’s European Distribution Center, 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; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and its quarterly report on Form 10-Q for the three months ended September 30, 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 USA, Inc.
Jolene Abbott, 310-318-3100 x4839
[email protected]
by | Jan 17, 2017 | Press Release
Jan 17, 2017 • 8:45 am EST
Rising PGA Star and YouTube Sensation Wesley Bryan Debuts as the New Brand Ambassador in the Upcoming Spring 2017 Skechers GO GOLF Campaign
LOS ANGELES–(BUSINESS WIRE)– Skechers Performance™, a division of SKECHERS USA, Inc. (NYSX:SKX), announced today the signing of PGA rising star and YouTube golf trick artist Wesley Bryan who will join the growing number of elite athletes representing Skechers GO GOLF®. Bryan’s deal with the global footwear brand tops off the 26-year-old’s big year, as he becomes the newest face for Skechers Performance and a rookie member of the PGA TOUR, having just earned his card for the 2016-2017 season.
Skechers Performance elite athlete, Wesley Bryan, wearing the Skechers GO GOLF Focus™. (Photo: Business Wire)
Bryan’s path to golf’s elite global stage has been a vibrant and unique journey that was full of big buzz before he even turned professional. After playing college golf and graduating from the University of South Carolina, Wesley and his brother, George, formed Bryan Bros Golf on YouTube and other social media channels, shooting videos of themselves performing challenging golf tricks. While pulling off various stunts and impressive feats on the course, the brothers landed over 20 million views, plus coverage on ESPN and USA Today and securing major brand sponsorships.
However, it was Bryan’s serious game and hard work that landed him a spot on the Web.com Tour in 2016. Bryan capitalized on the opportunity, earning three wins during the 2016 season and being named the Web.com Tour’s 2016 Player of the Year. After his third victory on the Tour, Bryan landed a prestigious Battlefield Promotion, cementing his spot on the PGA TOUR this past August, and becoming one of only 11 golfers in history to do so.
“We have been blown away by Wesley’s positive attitude, his profound talent and his obvious love for the game,” says Skechers Performance Senior Vice President of Merchandising and Marketing, Rick Higgins. “We’ve been thrilled working with Wesley in the early stages — his ideas and input have already inspired the design team. We can’t wait to see what he does this year.”
Bryan joins the team as Skechers Performance enters its fifth year with the Skechers GO GOLF product line, joining world-class golf champions Matt Kuchar, Russell Knox, Billy Andrade, Colin Montgomerie, Brooke Henderson, Belén Mozo, and Ashlan Ramsey. He will be teaming up with them in upcoming global marketing campaigns for GO GOLF.
“I’m truly honored to be partnering with Skechers Performance,” says Bryan. “Their commitment to innovative design and performance has me really excited about what we can accomplish together on the golf course.”
As part of the sponsorship, Bryan will be wearing Skechers Performance GO GOLF footwear and apparel. Known for its lightweight designs, high quality comfort, shock-absorbing midsole 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.
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 interview opportunities 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 1,545 SKECHERS Company-owned and third-party 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, the completion of the expansion and upgrade of the Company’s European Distribution Center, 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; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and its quarterly report on Form 10-Q for the three months ended September 30, 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 USA, Inc.
Jolene Abbott
310-318-3100 x 4839
[email protected]
by | Jan 11, 2017 | Press Release
Jan 11, 2017 • 8:45 am EST
Skechers Performance Elite Athletes Meb Keflezighi and Kara Goucher also to Make Marathon-Related Appearances
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance returns to Houston, Texas on January 15, 2017 as the official footwear and apparel sponsor of the Chevron Houston Marathon and Aramco Houston Half Marathon. Skechers Performance will be exhibiting at the coinciding expo, January 13-14, 2017, debuting the 2017 limited edition apparel and footwear collection, as well as official race accessories.
The limited edition Skechers Performance GOrun 5™ – Houston 2017 footwear. (Photo: Business Wire)
Skechers Performance is also excited to announce the appearances of Skechers Performance elite athletes and Olympians, Meb Keflezighi and Kara Goucher. Kara Goucher will be a part of the on-air race broadcast on ABC 13 from 7-10 a.m. on January 15th. Additionally, several international Skechers Performance elite athletes will be competing in the marathon, including the 2016 Skechers Performance Los Angeles Marathon winner, Weldon Kirui.
“We always enjoy beginning the year in Houston for the marathon and we are pleased to be coming back in 2017,” said Rick Higgins, SVP Merchandising / Marketing, Skechers Performance. “We’re proud to have our athletes such as Meb and Kara join in race weekend activities to encourage runners of all experience levels and ages. This has become one of our marquee events, and our partnership with the Houston Marathon Committee has been extremely rewarding.”
For those looking to meet Meb in person, Skechers Performance will be hosting a meet and greet with the iconic marathoner on Friday, January 13th from 5:00 pm – 6:30 pm at Fleet Feet Sports, located at 2408 Rice Boulevard, Houston, TX 77005. Attendees will also receive a free gift after trying on any Skechers Performance footwear.
Meb will be making a second appearance with Skechers Performance at the Memorial Hermann IRONMAN Sports Medicine Institute EXPO on Saturday, January 14th at 4 p.m. The Olympian will sign autographs and take photos with attendees at booth #524, which is located across from the Skechers Performance official race merchandise location.
This year, Skechers Performance expanded the official race merchandise for the Chevron Houston Marathon and Aramco Houston Half Marathon, offering runners and fans a wide selection of running footwear, performance apparel and accessories to commemorate their experience. The limited edition footwear includes the new spring 2017 Skechers GOrun 5 and the GOrun Forza 2 for men and women. The apparel features running basics including tank tops, tee shirts, leggings and shorts, as well as Skechers Performance GO SHIELD lightweight rain jackets. This year’s merchandise also includes windbreakers and zip up jackets featuring Skechers GOTherm 360 technology to keep runners warm.
Additionally, Skechers Performance will offer race accessories including hats, socks, gear cinch bags, and new this year – running belts – to hold small race day essentials. Skechers Performance will provide finisher shirts for all runners of the Chevron Houston Marathon and Aramco Houston Half Marathon as well as outfit the course race crew volunteers with Skechers jackets.
Skechers Performance will offer a register round up for any purchase made at the official merchandise booth. Customers have the option to round up their purchase to the nearest whole dollar to support the Houston Marathon Foundation – an organization that supports the advancement of running and provides after school running programs, coaching, and guidance to over 2,000 Houston-area youth. Skechers Performance also donated 100 pairs of running shoes to high school students in need, as part of supporting the Houston Marathon Foundation.
“Entering our fourth year as partners, Skechers continuously exceeds expectations in regards to activation, advertising, branding and merchandising around our event, and their increased support of the Houston Marathon Foundation’s We Run Houston after-school running program has helped us truly make a difference for children across the region,” stated Wade Morehead, Executive Director of the Houston Marathon Committee and Foundation. “From their executives to their EXPO staff, it is an absolute pleasure working with their team. The primary mission for both of our organizations is to deliver the best participant experience possible each year.”
Additional activities during race weekend include a graffiti wall at the Skechers Performance booth, where participants and spectators are invited to leave a goal or supportive message for their race. Fans are also invited to snap a photo with life-size standees of Meb and Kara Goucher. Further, Skechers Performance will be out on the Discovery Green Jones Lawn for the “We are Houston Runfest” where games, prizes and giveaways will be available.
The Skechers Performance merchandise booth is located at #617 at the Memorial Hermann IRONMAN Sports Medicine Institute EXPO, located at the George R. Brown Convention Center, Hall A3 (Third Floor).
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 interview opportunities 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 1,545 SKECHERS Company-owned and third-party 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, the completion of the expansion and upgrade of the Company’s European Distribution Center, 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; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2015 and its quarterly report on Form 10-Q for the three months ended September 30, 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 USA, Inc.
Jolene Abbott, 310-318-3100 x4839
[email protected]
