by | Apr 26, 2016 | Press Release
Apr 26, 2016 • 12:50 pm EDT
Skechers GOrun 4™ – 2016 is Awarded Editor’s Choice, which will Appear in the June 2016 Summer Shoe Guide
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance™—a division of SKECHERS USA, Inc. (NYSE:SKX)—announces today, that Skechers GOrun 4 – 2016™ was awarded the prestigious “Editor’s Choice” accolade from Runner’s World magazine, a publication of Rodale, Inc. The Editor’s Choice Award will appear in the highly anticipated summer Shoe Guide in the June 2016 issue, which will be on newsstands on May 1, 2016.
Skechers Performance™ Award-Winning GOrun 4™ – 2016. Runner’s World is a registered trademark of Rodale, Inc. All rights reserved. (Photo: Business Wire)
Editor’s Choice represents an outstanding shoe that successfully combines the highest-quality design and technology. Winners received high marks from the Runner’s World Shoe Lab, the “wear-testers” and the editors. In the issue, Runner’s World noted that the testers “…heaped praise on the new upper, saying it had an ‘amazing fit’ and calling it ‘extremely comfortable’.” The Skechers GOrun 4 – 2016 was evaluated amongst multiple shoe brands and 25 models for the Shoe Guide, and will appear in print and online as part of the Runner’s World shoe finder.
“We are extremely proud that the GOrun 4 – 2016 has been recognized in such an important way by Runner’s World,” said Rick Higgins, SVP Merchandising/Marketing for Skechers Performance. “Our focus over the years has been to provide runners with performance footwear that is built by runners. Our philosophy is to keep innovating and developing shoes with the latest unique technologies in the market. Receiving this award really highlights how committed we are to bringing the best shoes to runners.”
Introduced by Skechers Performance earlier this year, Skechers GOrun 4 – 2016 features a GO KNIT sock-like upper, resulting in reduced weight and increased support. This neutral, lightweight trainer, also features a Resalyte® cushioned midsole, and Skechers Performance’s Mid-Foot Strike zone, allowing for a smooth transition. Skechers GOrun 4 – 2016 is available at select run specialty and sporting goods stores around the world, as well as Skechers retail stores and Skechers.com.
“This shoe has been the culmination of our team’s efforts of listening and reacting to what runners want,” said Kurt Stockbridge, VP, Technical Development, Skechers Performance. “We really pushed ourselves to deliver on those principles.”
Skechers Performance creates innovative footwear and apparel for a running, walking, training, and golf. Products are designed and engineered to the highest standards of an athlete. Partnerships with world-class runners, Meb Keflezighi and Kara Goucher, and pro golfers, Matt Kuchar, Colin Montgomerie, Russell Knox, Billy Andrade, Bélen Mozo and Ashlan Ramsey, bring expert insights to the product creation process thus delivering performance products to the consumer.
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 1,340 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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. 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 | Apr 21, 2016 | Press Release
Apr 21, 2016 • 4:01 pm EDT
Record Quarterly Sales of $978.8 Million, an Increase of 27.4 Percent
Record Quarterly Earnings from Operations of $138.6 Million
Record Quarterly Net Earnings of $97.6 Million
Record Quarterly Diluted Earnings Per Share of $0.63
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader and the second largest footwear brand in the United States, today announced financial results for the first quarter ended March 31, 2016.
First quarter 2016 net sales were $978.8 million compared to $768.0 million in the first quarter of 2015, an increase of 27.4 percent.Gross profit for the first quarter of 2016 was $432.2 million, or 44.2 percent of net sales, compared to $332.5 million, or 43.3 percent of net sales in the first quarter of 2015. Earnings from operations for the first quarter of 2016 were $138.6 million, or 14.2 percent of net sales, compared to net earnings from operations of $88.2 million, or 11.5 percent of net sales, for the first quarter of 2015.
“At no other time in the Company’s history have we been stronger across our many product categories, marketing initiatives and multiple distribution channels. The growing demand for our brand has resulted in record revenues of $978.8 million and earnings from operations of $138.6 million for the first quarter of 2016,” began David Weinberg, chief operating officer and chief financial officer. “These significant achievements are primarily the result of a 47.1 percent increase in our international wholesale business over the first quarter 2015, and a shift forward of some domestic and international orders into the first quarter due to the Easter timing. In addition, domestic wholesale sales increased 12.1 percent and our Company-owned retail sales increased by 23.2 percent with a 9.8 percent comp store sales increase over the prior year period. For the first time ever, our international business has grown to be our largest segment—with international wholesale representing 42.9 percent and international wholesale and retail representing 47.7 percent of our total sales. To meet the increased demand, we are investing in our infrastructure, including improved efficiencies in our European Distribution Center, which allowed us to achieve a record three million pairs shipped in a month during February. With the completion of our European Distribution Center expansion to one million square feet in the second quarter of 2016, and with the automation to be fully completed later this year, we expect to be even more efficient in our largest market outside of the United States.”
Net earnings in the first quarter of 2016 were $97.6 million compared to net earnings of $56.1 million for the first quarter of 2015. Net earnings per diluted share in the first quarter 2016 increased 72.5 percent to $0.63 based on 154.8 million weighted average shares outstanding compared to a diluted net earnings per share of $0.37 based on 153.4 million weighted average shares outstanding for the same period in the prior year.
Robert Greenberg, SKECHERS chief executive officer, commented: “2016 marks Skechers’ 24th year in business and we couldn’t be more pleased to start 2016 with record quarterly revenues just shy of the billion dollar mark. By remaining focused on our product, building on our proven sellers—like our colorful and comfortable Skechers Sport collection and our vast array of Skechers GOwalk footwear—and introducing new designs, including a retro sport line that global singing sensation Meghan Trainor is wearing in her new Skechers campaign, we continue to innovate and further develop our global brand. The sales growth that we achieved in the first quarter in the United States is due to our expanding product range that appeals both to our loyal shoppers and a widening demographic, including tweens and teens, as well as those that first wore our product in 1992. This is due to our advertising—which features young superstars like Meghan and Demi Lovato, as well as icons such as Sugar Ray Leonard, Ringo Starr and now Howie Long. Our consumer base also includes serious athletes who have embraced our technical product thanks in part to the recognition we’re receiving with our elite runner Meb in the running for an Olympic medal, a team of top ranked golfers, and the title sponsorship of the Skechers Performance Los Angeles Marathon. With a strong sales increase in the first quarter driven by substantial growth across Europe, Asia, the Middle East and closer to home in Canada and Chile, we see our international business as being a key driver of our continued growth as we deliver a broader assortment of our footwear for men, women and kids, expand into new accounts, and open more international Skechers retail stores. In the first quarter, together with our international partners, we opened 87 Skechers retail stores, bringing the total to 1,397; with the opening of 17 stores in the second quarter already, we now have 1,414 Skechers stores, of which 1,017 are in international markets. Given our significant momentum and current product in the pipeline, we believe our success will continue throughout the year.”
Mr. Weinberg added: “Last year’s second quarter was extremely strong as shipments were pushed from the first quarter into the second quarter of 2015, while this year shipments were pulled from the second quarter into the first quarter. We believe this was in part due to our European business strengthening and China increasing its wholesale distribution strategy through a franchise store model, both of which concentrated volume into the first quarter. Total inventories, which decreased $118.4 million or 19.1 percent from December 31, 2015, and increased $109.7 million or 28.0 percent from March 31, 2015, are in line with our growth and increased Company-owned store count. Our financial position is strong with $443.8 million in cash and cash equivalents. We currently believe second quarter 2016 net sales will be between $875 million and $900 million; this guidance assumes no significant shift or pull forward of orders from the third quarter into the second quarter. Our first and third quarter net sales have the potential to become larger relative to the net sales balance of the other quarters as our international business becomes a greater percentage of our total net sales. We therefore believe there could be upside opportunity for the third quarter of 2016 and the balance of the year.”
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 1,410 SKECHERS Company-owned and third-party retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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. 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,
2016
|
|
|
December 31,
2015
|
| ASSETS |
|
|
|
|
| Current Assets: |
|
|
|
|
| Cash and cash equivalents |
$ |
443,828 |
|
|
$ |
507,991 |
| Trade accounts receivable, net |
|
542,396 |
|
|
|
343,930 |
| Other receivables |
|
21,600 |
|
|
|
18,661 |
| Total receivables |
|
563,996 |
|
|
|
362,591 |
| Inventories |
|
501,855 |
|
|
|
620,247 |
| Prepaid expenses and other current assets |
|
44,080 |
|
|
|
57,363 |
| Total current assets |
|
1,553,759 |
|
|
|
1,548,192 |
| Property, plant and equipment, net |
|
456,971 |
|
|
|
435,907 |
| Deferred tax assets |
|
16,164 |
|
|
|
17,825 |
| Other assets |
|
41,516 |
|
|
|
37,954 |
| Total non-current assets |
|
514,651 |
|
|
|
491,686 |
| TOTAL ASSETS |
$ |
2,068,410 |
|
|
$ |
2,039,878 |
| LIABILITIES AND EQUITY |
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Current installments of long-term borrowings |
$ |
14,420 |
|
|
$ |
15,653 |
| Accounts payable |
|
405,324 |
|
|
|
473,983 |
| Short-term borrowings |
|
58 |
|
|
|
59 |
| Accrued expenses |
|
62,103 |
|
|
|
87,318 |
| Total current liabilities |
|
481,905 |
|
|
|
577,013 |
| Long-term borrowings, net of current installments |
|
68,498 |
|
|
|
68,942 |
| Deferred tax liabilities |
|
8,760 |
|
|
|
8,507 |
| Other long-term liabilities |
|
10,424 |
|
|
|
9,682 |
| Total non-current liabilities |
|
87,682 |
|
|
|
87,131 |
| Total liabilities |
|
569,587 |
|
|
|
664,144 |
| Stockholders’ equity: |
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
1,438,756 |
|
|
|
1,327,556 |
| Noncontrolling interests |
|
60,067 |
|
|
|
48,178 |
| Total equity |
|
1,498,823 |
|
|
|
1,375,734 |
| TOTAL LIABILITIES AND EQUITY |
$ |
2,068,410 |
|
|
$ |
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 March 31, |
|
|
2016
|
|
|
2015
|
|
| Net sales |
$ |
978,794 |
|
$ |
767,997 |
|
| Cost of sales |
|
546,642 |
|
|
435,457 |
|
| Gross profit |
|
432,152 |
|
|
332,540 |
|
| Royalty income |
|
2,625 |
|
|
1,882 |
|
|
|
434,777 |
|
|
334,422 |
|
| Operating expenses: |
|
|
| Selling |
|
53,878 |
|
|
49,092 |
|
| General and administrative |
|
242,349 |
|
|
197,141 |
|
|
|
296,227 |
|
|
246,233 |
|
| Earnings from operations |
|
138,550 |
|
|
88,189 |
|
| Other income (expense): |
|
|
| Interest, net |
|
(1,122 |
) |
|
(2,650 |
) |
| Other, net |
|
2,779 |
|
|
(4,761 |
) |
|
|
1,657 |
|
|
(7,411 |
) |
| Earnings before income tax expense |
|
140,207 |
|
|
80,778 |
|
| Income tax expense |
|
30,568 |
|
|
19,120 |
|
| Net earnings |
|
109,639 |
|
|
61,658 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
12,027 |
|
|
5,578 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
$ |
97,612 |
|
$ |
56,080 |
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
| Basic |
$ |
0.63 |
|
$ |
0.37 |
|
| Diluted |
$ |
0.63 |
|
$ |
0.37 |
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
| Basic |
|
153,745 |
|
|
152,413 |
|
| Diluted |
|
154,818 |
|
|
153,430 |
|
Company Contact:
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer,
Chief Financial Officer
(310) 318-3100
or
Investor Relations:
Addo Communications
Andrew Greenebaum
(310) 829-5400
by | Apr 18, 2016 | Press Release
Apr 18, 2016 • 9:00 am EDT
Football Legend and FOX NFL Studio Analyst to Appear inGlobal Skechers Men’s Footwear Campaign
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) is set to partner with Howie Long—the Pro Football Hall of Famer and sports commentator known by millions—for a multi-year spokesman relationship. Long will appear in a campaign that promotes the footwear brand’s comfortable and stylish men’s collections.
Howie Long signs on with Skechers (Photo: Business Wire)
The celebrated commentator’s first television commercial for SKECHERS is set to launch in time for the 2016 football season. The spot will feature the new SKECHERS men’s collection and lead off a multi-tiered TV, print and digital campaign that is expected to continue across all media through 2018.
“I’m excited to be joining the SKECHERS team and following in the footsteps of so many amazing athletes and stars who have appeared on their roster,” said Howie Long. “From the field to the studio, I’ve spent a lifetime of Sundays on my feet, so it feels great to add some Skechers comfort to my wardrobe.”
“Beginning with his career in Oakland and Los Angeles to more than two decades appearing every Sunday on television during football season, Howie is a trusted and familiar face to millions of football fans,” said Michael Greenberg, president of SKECHERS. “Just like legends Joe Montana and Sugar Ray Leonard, we know that Howie is an ideal person to join our team and continue spreading the word about our incredibly popular footwear to the millions of men who love our comfort-focused collections.”
Drafted out of Villanova in 1981, Howie Long’s pro football career spanned 12 seasons as defensive end with the Raiders. He has a Super Bowl win, was an 8-time Pro Bowl team member and was named to the 1980’s NFL All-Decade team. In 2000 he was inducted into the NFL Hall of Fame. After retiring in 1993, Long appeared in several movies and found a home quickly in broadcasting where he’s been a studio analyst on the FOX NFL Sunday team since the network debut in 1994. Howie is a longtime supporter of the Boys and Girls Clubs of America where he continues to volunteer. He was also named Walter Camp Man of the Year in 2001 by the Walter Camp Foundation.
Previous SKECHERS men’s campaigns have featured iconic drummer Ringo Starr and sports stars Sugar Ray Leonard, Joe Montana, Joe Namath, Ronnie Lott, Mariano Rivera, Tommy Lasorda, Mark Cuban, Karl Malone, Kareem Abdul-Jabbar, Rick Fox, Wayne Gretzky and Meb Keflezighi. Baseball great Ozzie Smith also recently appeared in a SKECHERS Relaxed Fit footwear campaign that launched on MLB opening day.
Leveraging fashionable designs and a unique SKECHERS Air-Cooled Memory Foam footbed 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 1,340 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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. 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 | Apr 14, 2016 | Press Release
Apr 14, 2016 • 3:32 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in footwear, today announced that it will release its first quarter 2016 financial results after market close on Thursday, April 21, 2016. 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 21, 2016, at 7:30 p.m. ET, through May 5, 2016, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 13632731.
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 1,340 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
Contact Information:
SKECHERS USA, Inc.
David Weinberg, 310-318-3100
Chief Operating Officer and Chief Financial Officer
or
Investor Relations:
Addo Communications
Andrew Greenebaum, 310-829-5400
[email protected]
by | Apr 5, 2016 | Press Release
Apr 5, 2016 • 8:15 am EDT
Kuchar Will Continue Representing Skechers GO GOLF® on Tour and is Set to Debut the New GO GOLF Pro 2™ This Week
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance™—a division of Skechers USA, Inc. (NYSE:SKX)—announces the multi-year contract extension with professional golfer Matt Kuchar. In addition to representing Skechers GO GOLF® on the PGA TOUR and in Skechers GO GOLF global marketing campaigns, he will also continue working closely with the company developing new golf footwear.
Skechers GO GOLF Pro 2
“Working with Skechers Performance has been extremely rewarding,” said Kuchar. “Their team has been a creative force and is on the cutting edge of design, bringing me the best footwear possible and keeping me at the top of my game. The shoes I wear need to be stable and secure on the green, and Skechers Performance has that perfect balance, giving me the highest functionality while remaining the most comfortable golf shoes I’ve ever worn.“
A seven-time PGA TOUR champion, Kuchar has played an integral role in the technical development of Skechers GO GOLF footwear and has brought significant awareness to the overall golf division. Kuchar launched the Skechers GO GOLF Pro with a comedic series of TV spots titled “GOLF Tips with Matt Kuchar,” which gained the industry’s attention and won the International Network of Golf (ING) 2015 Industry Honors award. He has since followed up with a new campaign titled “GOLF SCHOOL” that includes several of Skechers Performance golf pros: Belén Mozo, Billy Andrade, and Colin Montgomerie.
“Our partnership with Matt has been invaluable in growing our golf business,” said Rick Higgins, Senior Vice President, Merchandising/Marketing, Skechers Performance. “His input on developing the footwear has helped us build some of the most competitive golf shoes on the market and on top of that, he is a first-class guy to work with. We’ve had a lot of fun shooting our GOLF SCHOOL commercial spots with him – they allow everyone to see that great side of Matt’s personality.”
Spectators will get a first look at the new spring 2017 Skechers GO GOLF Pro 2™ this week, as Kuchar steps up to tee off. He will debut the model—as will Skechers Performance pro and 2016 PGA TOUR winner Russell Knox. The Skechers GO GOLF Pro 2 merges Skechers Performance’s innovative comfort and technology and features Skechers Performance’s new 5GEN midsole foam cushioning and a new dual density outsole with an integrated grip technology to provide stability through the athlete’s swing. The Skechers GO GOLF Pro 2 will be available in two waterproof leather uppers, giving the golfer an upgraded premium option. It will be released to consumers later this year.
Skechers GO GOLF has become known for its innovative designs, high quality comfort, shock-absorbing midsole and superb stability. The footwear is available at select retailers including golf pro shops, as well as online at skechers.com.
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 1,340 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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. 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 | Apr 4, 2016 | Press Release
Apr 4, 2016 • 12:34 pm EDT
Hall of Fame Shortstop to Appear in Campaign for Relaxed Fit® from Skechers Footwear Collection
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers has teamed up with Major League Baseball (MLB) Hall of Fame shortstop Ozzie Smith for a new marketing campaign featuring the brand’s Relaxed Fit from Skechers footwear collection. The campaign kicked off yesterday with a television commercial that aired during MLB opening day and will extend through December 2016.
Ozzie Smith teams up with Skechers (Photo: Business Wire)
Smith’s first commercial debuted on Sunday, April 3. The humorous campaign compares Ozzie’s double play skills with the style and comfort found in the Relaxed Fit footwear collection.
“I’m excited to be working with Skechers on this campaign because they make some of the most comfortable shoes I have ever worn,” said Ozzie Smith. “I’ve been a fan of the brand for years, and I love how Skechers Memory Foam feels so relaxing on my feet.”
“Baseball fans recognize Ozzie as the best defensive shortstop of all time so we’re thrilled to have him join the Skechers team,” said Skechers president Michael Greenberg. “Ozzie’s impressive accomplishments and notoriety make him the perfect champion to follow in the footsteps of baseball legends Mariano Rivera and Pete Rose in representing the Skechers men’s collections.”
Nicknamed “The Wizard” for his defensive brilliance, Ozzie Smith set major league records for career assists (8,375) and double plays (1,590) by a shortstop as well as the National League (NL) record with 2,511 career games at the position. Smith won 13 consecutive Rawlings Gold Glove Awards (1980–1992) as the best shortstop in the league and helped the St. Louis Cardinals win the 1982 World Series. A 15-time All-Star, he accumulated 2,460 hits and 580 stolen bases during his career and won the NL Silver Slugger Award as the best-hitting shortstop in 1987. Ozzie retired from baseball in 1996 after playing 19 years in the major leagues, the first four years with the San Diego Padres and the final fifteen with the St. Louis Cardinals. Smith was elected to the Baseball Hall of Fame in 2002 and the St. Louis Cardinals Hall of Fame for the inaugural class of 2014. Off the field, he has spent countless hours assisting non-profit organizations in the St. Louis area including the American Heart Association, St. Louis Effort for AIDS Dining Out for Life program, and serves as president of the Gateway PGA Foundation which reaches out to inner city youth via mentoring and golf programs. Ozzie also serves as the Education Ambassador for the Baseball Hall of Fame and headlines a “Play Ball with Ozzie Smith” fundraiser every year in Cooperstown during Induction Weekend.
Ozzie joins Skechers’ current “Hall of Fame” roster which includes legendary New York Yankees closer Mariano Rivera, world champion boxer Sugar Ray Leonard and music icon Ringo Starr. Previous Skechers men’s campaigns have featured sports legends such as Pete Rose, Joe Montana, Ronnie Lott, Joe Namath, Tommy Lasorda, Mark Cuban, Karl Malone, Kareem Abdul-Jabbar, Rick Fox, Wayne Gretzky and Meb Keflezighi.
Skechers Relaxed Fit footwear is known for a roomier fit and Skechers Memory Foam footbed that delivers instant comfort. The collection is available in Skechers retail channels worldwide.
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 1,340 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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. 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
