by | Apr 15, 2015 | Press Release
Apr 15, 2015 • 4:00 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 2015 financial results after market close on Wednesday, April 22, 2015. 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 22, 2015, at 7:30 p.m. ET, through May 6, 2015, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 13606305.
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 100 countries and territories worldwide via department and specialty stores, more than 1,000 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 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer and Chief Financial Officer
310-318-3100
or
Investor Relations:
Addo Communications
Andrew Greenebaum
310-829-5400
[email protected]
by | Feb 18, 2015 | Press Release
Feb 18, 2015 • 9:00 am EST
LONDON–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced that it has been named Footwear Brand of the Year and Fashion Footwear Brand of the Year at The Footwear Industry Awards. SKECHERS was also highly commended in the Sports Brand of the Year category. This achievement follows a year when SKECHERS won multiple top industry awards in the United States, including Company of the Year from both Footwear News and Footwear Plus.
“We are incredibly honored to have been recognized as Footwear Brand of the Year. This marks the first Footwear Industry Awards win for SKECHERS in the top category along with our second straight Fashion Brand of the Year win,” commented Peter Youell, Managing Director of SKECHERS UK and Ireland. “It’s a privilege to receive this recognition amongst such notable brands that were shortlisted in our categories. These awards are a testament to the strength of the SKECHERS brand in the UK and the ongoing support from our retail partners to reaffirm and elevate SKECHERS as a leading lifestyle and fashion footwear brand.”
“Awards like this illustrate how our brand and product are resonating with more consumers than ever before,” said David Weinberg, SKECHERS chief operating officer and chief financial officer. “In 2014, SKECHERS experienced over 50 percent year-over-year annual net sales growth within our UK subsidiary, where we shipped more than 2.7 million pairs and surpassed $100 million in sales through wholesale and Company-owned retail stores. We believe our success in the UK will continue thanks to our in-demand product and great retail partners. Building on this momentum, we expect our international sales to become 50 percent of our total business in the next 3 to 4 years.”
The prestigious annual awards event was held on Sunday, February 15, during the Moda Footwear Show and organized by Datateam Business Media with the support of the British Footwear Association (BFA), Independent Footwear Retailers Association (IFRA), The Society of Shoe Fitters and Footwear Today.
The Footwear Industry Awards recognize excellence at every level, and SKECHERS won over a strong competitive field that included Clarks, Rieker, Fly London and Gabor. SKECHERS’ previous Footwear Industry Awards honors include Fashion Brand of the Year and Sports Brand of the Year in 2014, and the Company was highly commended in the Comfort and Wellness category for 2014 as well.
SKECHERS offers two distinct footwear categories: a lifestyle division which offers comfort-focused trend-right product for men, women and kids including Relaxed Fit®, Skechers Memory Foam footwear and the philanthropic line BOBS from SKECHERS, and the Skechers Performance Division which includes Skechers GOrun and Skechers GOwalk footwear.
Celebrity product endorsees for SKECHERS’ collections include legendary drummer Ringo Starr, multi-platinum recording artist Demi Lovato, as well as model and actress Kelly Brook. In addition, elite marathon champion and Boston Marathon winner Meb Keflezighi represents the Skechers Performance Division.
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 100 countries and territories worldwide via department and specialty stores, more than 1,000 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 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us (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 growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. 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, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; 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, 2013, and its Form 10-Q for the quarter ended September 30, 2014. 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 | Feb 11, 2015 | Press Release
Feb 11, 2015 • 4:00 pm EST
- Record Annual Sales of $2.378 Billion
- Fourth Quarter 2014 Net Sales Increased 26.4 Percent to $569.7 Million
- Fourth Quarter 2014 Net Earnings of $21.9 Million
- Fourth Quarter 2014 Diluted Earnings Per Share of $0.43
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced financial results for the fourth quarter and fiscal year ended December 31, 2014.
Net sales for the fourth quarter of 2014 were $569.7 million compared to $450.7 million in the fourth quarter of 2013. Gross profit for the fourth quarter of 2014 was $257.6 million or 45.2 percent of net sales compared to $200.6 million or 44.5 percent of net sales in the fourth quarter of 2013. Earnings from operations in the fourth quarter of 2014 were $33.0 million compared to earnings from operations of $17.1 million in the fourth quarter of 2013.
“Skechers fourth quarter revenues of over $569 million set a new record for the period, and followed a record third quarter 2014, which was the highest quarterly sales in the Company’s history. This momentum led to record annual revenues of $2.378 billion for 2014, an approximately 29 percent increase compared to 2013 sales of $1.846 billion,” began David Weinberg, SKECHERS chief operating officer and chief financial officer. “The outstanding fourth quarter growth was the result of double-digit improvements in our domestic and international wholesale and Skechers Company-owned retail businesses, all of which benefited from our universally appealing men’s, women’s and kids’ product. We are also pleased to note that within our domestic wholesale business, our average price per pair increased by 7.4 percent in the quarter, and within our international wholesale business, we experienced double-digit growth in many key countries that were negatively impacted by currency issues, both further testaments to the strength of our brand and product.”
Net earnings for the fourth quarter of 2014 were $21.9 million compared to net earnings of $14.2 million in the fourth quarter of 2013. Net earnings per diluted share in the fourth quarter of 2014 were $0.43 based on 51.4 million weighted average shares outstanding compared to $0.28 based on 50.7 million weighted average shares outstanding in the fourth quarter of 2013. During the fourth quarter of 2014, the Company’s net earnings were negatively impacted by approximately $7.0 million, or $0.14 per diluted share of which $4.7 million, or $0.09 per diluted share was the result of negative foreign currency translations and transactions and $2.3 million, or $0.05 per diluted share, was the result of foreign and domestic bad debt write-offs. The Company’s effective tax rate for the year-ended December 31, 2014, was 20.5 percent, which was below the forecasted rate of 22.6 percent at the close of the third quarter 2014. The decrease in its effective tax rate was due to increased international sales and profitability combined with slightly decreased domestic profitability. The Company expects improved international sales and profitability to continue to have a positive impact on its 2015 effective tax rate, which is forecasted to be between 20 percent and 25 percent.
Fiscal year 2014 net sales were $2.378 billion compared to net sales of $1.846 billion in 2013. Gross profit for 2014 was $1.072 billion or 45.1 percent of net sales compared to $818.8 million or 44.4 percent of net sales in 2013. Earnings from operations for 2014 were $209.1 million compared to $93.6 million in 2013.
Net earnings for 2014 were $138.8 million compared to $54.8 million in 2013. Net earnings per diluted share for fiscal year 2014 were $2.72 based on 51.0 million weighted average shares outstanding compared to $1.08 based on 50.6 million weighted average shares outstanding in the prior year.
Robert Greenberg, SKECHERS chief executive officer, commented: “Just a year ago, we were honored as the 2013 Brand of the Year for GO (Footwear News) and 2013 Running Design Excellence and Children’s Design Excellence (Footwear Plus), and now we are 2014 Company of the Year (Footwear News and Footwear Plus), and the No. 2 footwear brand and the No. 1 walking brand in America. This speaks volumes to the product we have developed and delivered, the global marketing support behind it, and the many other achievements and milestones made throughout the year. In the fourth quarter alone, we signed world renowned drummer Ringo Starr to a global marketing agreement for our growing men’s footwear line, launched our first Demi Lovato campaign — which spurred a flurry of social media engagement around the world, and saw Meb cross the finish line first among the Americans at the New York Marathon. We also announced the opening of our 1,000th Skechers retail store, completed the initial phase of the automation of our European Distribution Center equipment and moved up our Fall 2015 buy meetings with our key domestic accounts to October and November, which allowed us to meet the increased order rate for our new product. This in turn positively impacted our international partners as they have been able to place orders for the coming season earlier, which will allow us to deliver more product in a timely manner. In the first quarter of 2015, we decided to convert three distribution partners doing business in 14 Central Eastern European countries to wholly-owned subsidiaries, enabling us to leverage the success we are experiencing across Europe. With our women’s footwear reaching an expanding audience thanks to both the fresh styling and our advertising campaign featuring Demi Lovato, our men’s footwear collectively achieving the highest percentage gains, and new innovations in our children’s footwear — including Game Kicks, the shoe with an electronic memory game built in — we believe the demand for our footwear is at an all-time high. We are looking forward to delivering new product in the Spring, expanding the Skechers retail store base to an estimated 1,250 stores by the end of 2015, and continuing to see strong double-digit and, in some cases, triple-digit gains in Europe, the Americas, the Asia-Pacific region and the Middle East. We believe there are still tremendous growth opportunities for Skechers in 2015 and beyond.”
David Weinberg continued: “2014 was an excellent year for Skechers, and we expect the momentum to continue in 2015 based on domestic and international Skechers retail stores comps of 17 percent in January, year-over-year worldwide backlogs up 60 percent at December 31, 2014, and the steady demand for our product including expansion in new doors and existing doors. With continued investments in our infrastructure for the coming years, including equipment automation upgrades at our European Distribution Center and establishment of a Company-operated distribution center in Chile, $466.7 million in cash and inventories in-line with expected sales, we believe we are prepared for growth in 2015. We believe the best is yet to come, and are looking forward to the first quarter of 2015, which we expect will be a new quarterly sales record of $690 million to $710 million and earnings per share of $0.95-$1.05.”
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 100 countries and territories worldwide via department and specialty stores, more than 1,000 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 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us (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 growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. 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, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; 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, 2013, and its Form 10-Q for the quarter ended September 30, 2014. 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, |
|
|
|
December 31, |
|
|
|
|
2014 |
|
|
|
2013 |
| ASSETS |
|
|
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
|
|
$ |
466,685 |
|
|
|
$ |
372,011 |
| Trade accounts receivable, net |
|
|
|
|
272,103 |
|
|
|
|
225,941 |
| Other receivables |
|
|
|
|
16,510 |
|
|
|
|
10,599 |
| Total receivables |
|
|
|
|
288,613 |
|
|
|
|
236,540 |
| Inventories |
|
|
|
|
453,837 |
|
|
|
|
358,168 |
| Prepaid expenses and other current assets |
|
|
|
|
57,015 |
|
|
|
|
26,094 |
| Deferred tax assets |
|
|
|
|
18,864 |
|
|
|
|
22,115 |
| Total current assets |
|
|
|
|
1,285,014 |
|
|
|
|
1,014,928 |
| Property, plant and equipment, at cost, less accumulated depreciation and amortization |
|
|
|
|
373,183
|
|
|
|
|
361,755
|
| Goodwill and other intangible assets, less accumulated amortization |
|
|
|
|
1,630 |
|
|
|
|
2,377 |
| Deferred tax assets |
|
|
|
|
2,044 |
|
|
|
|
9,950 |
| Other assets, at cost |
|
|
|
|
13,047 |
|
|
|
|
19,560 |
| Total non-current assets |
|
|
|
|
389,904 |
|
|
|
|
393,642 |
| TOTAL ASSETS |
|
|
|
$ |
1,674,918 |
|
|
|
$ |
1,408,570 |
| LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
|
|
| Current installments of long-term borrowings |
|
|
|
$ |
101,407 |
|
|
|
$ |
12,028 |
| Accounts payable |
|
|
|
|
352,815 |
|
|
|
|
258,183 |
| Short-term borrowings |
|
|
|
|
1,810 |
|
|
|
|
87 |
| Accrued expenses |
|
|
|
|
49,705 |
|
|
|
|
40,124 |
| Total current liabilities |
|
|
|
|
505,737 |
|
|
|
|
310,422 |
| Long-term borrowings, net of current installments |
|
|
|
|
15,081 |
|
|
|
|
116,488 |
| Other long-term liabilities |
|
|
|
|
19,993 |
|
|
|
|
1,740 |
| Total non-current liabilities |
|
|
|
|
35,074 |
|
|
|
|
118,228 |
| Total liabilities |
|
|
|
|
540,811 |
|
|
|
|
428,650 |
| Stockholders’ equity: |
|
|
|
|
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
|
|
|
1,075,249 |
|
|
|
|
930,322 |
| Noncontrolling interests |
|
|
|
|
58,858 |
|
|
|
|
49,598 |
| Total equity |
|
|
|
|
1,134,107 |
|
|
|
|
979,920 |
| TOTAL LIABILITIES AND EQUITY |
|
|
|
$ |
1,674,918 |
|
|
|
$ |
1,408,570 |
| |
| |
| SKECHERS U.S.A., INC. AND SUBSIDIARIES |
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
| (Unaudited) |
| (In thousands, except per share data) |
| |
|
|
|
|
Three Months Ended |
|
|
|
Twelve Months Ended |
|
|
|
|
December 31, |
|
|
|
December 31, |
|
|
|
|
2014 |
|
|
|
2013 |
|
|
|
2014 |
|
|
|
2013 |
| Net sales |
|
|
|
$ |
569,722 |
|
|
|
|
$ |
450,737 |
|
|
|
|
$ |
2,377,561 |
|
|
|
|
$ |
1,846,361 |
|
| Cost of sales |
|
|
|
|
312,093 |
|
|
|
|
|
250,092 |
|
|
|
|
|
1,305,656 |
|
|
|
|
|
1,027,569 |
|
| Gross profit |
|
|
|
|
257,629 |
|
|
|
|
|
200,645 |
|
|
|
|
|
1,071,905 |
|
|
|
|
|
818,792 |
|
| Royalty income |
|
|
|
|
2,178 |
|
|
|
|
|
2,890 |
|
|
|
|
|
9,106 |
|
|
|
|
|
7,734 |
|
|
|
|
|
|
259,807 |
|
|
|
|
|
203,535 |
|
|
|
|
|
1,081,011 |
|
|
|
|
|
826,526 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling |
|
|
|
|
40,198 |
|
|
|
|
|
33,496 |
|
|
|
|
|
181,018 |
|
|
|
|
|
153,491 |
|
| General and administrative |
|
|
|
|
186,598 |
|
|
|
|
|
152,977 |
|
|
|
|
|
690,923 |
|
|
|
|
|
579,426 |
|
|
|
|
|
|
226,796 |
|
|
|
|
|
186,473 |
|
|
|
|
|
871,941 |
|
|
|
|
|
732,917 |
|
| Income from operations |
|
|
|
|
33,011 |
|
|
|
|
|
17,062 |
|
|
|
|
|
209,070 |
|
|
|
|
|
93,609 |
|
| Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest, net |
|
|
|
|
(3,093 |
) |
|
|
|
|
(2,696 |
) |
|
|
|
|
(11,629 |
) |
|
|
|
|
(11,049 |
) |
| Other, net |
|
|
|
|
(1,230 |
) |
|
|
|
|
2,111 |
|
|
|
|
|
(6,062 |
) |
|
|
|
|
(345 |
) |
|
|
|
|
|
(4,323 |
) |
|
|
|
|
(585 |
) |
|
|
|
|
(17,691 |
) |
|
|
|
|
(11,394 |
) |
| Earnings before income tax expense |
|
|
|
|
28,688 |
|
|
|
|
|
16,477 |
|
|
|
|
|
191,379 |
|
|
|
|
|
82,215 |
|
| Income tax expense |
|
|
|
|
2,833 |
|
|
|
|
|
376 |
|
|
|
|
|
39,184 |
|
|
|
|
|
21,347 |
|
| Net earnings |
|
|
|
|
25,855 |
|
|
|
|
|
16,101 |
|
|
|
|
|
152,195 |
|
|
|
|
|
60,868 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
|
|
|
3,935 |
|
|
|
|
|
1,936 |
|
|
|
|
|
13,385 |
|
|
|
|
|
6,080 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
|
|
|
$ |
21,920 |
|
|
|
|
$ |
14,165 |
|
|
|
|
$ |
138,810 |
|
|
|
|
$ |
54,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
|
$ |
0.43 |
|
|
|
|
$ |
0.28 |
|
|
|
|
$ |
2.74 |
|
|
|
|
$ |
1.09 |
|
| Diluted |
|
|
|
$ |
0.43 |
|
|
|
|
$ |
0.28 |
|
|
|
|
$ |
2.72 |
|
|
|
|
$ |
1.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
|
|
50,697 |
|
|
|
|
|
50,463 |
|
|
|
|
|
50,613 |
|
|
|
|
|
50,363 |
|
| Diluted |
|
|
|
|
51,355 |
|
|
|
|
|
50,653 |
|
|
|
|
|
51,026 |
|
|
|
|
|
50,563 |
|
| |
SKECHERS USA, Inc.
David Weinberg, 310-318-3100
Chief Operating Officer,
Chief Financial Officer
or
Investor Relations:
Addo Communications
Andrew Greenebaum, 310-829-5400
by | Feb 5, 2015 | Press Release
Feb 5, 2015 • 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 fiscal 2014 financial results after market close on Wednesday, February 11, 2015. 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 11, 2015, at 7:30 p.m. ET, through February 25, 2015, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 13598921.
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 100 countries and territories worldwide via department and specialty stores, more than 1,000 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 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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 | Jan 14, 2015 | Press Release
Jan 14, 2015 • 7:13 am EST
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance is proud to announce LPGA Golf Pro Belén Mozo has joined Skechers Performance GO GOLF as its newest brand ambassador. Mozo will be featured in upcoming global marketing campaigns and will have direct design influence on a custom footwear style to release late 2015. Mozo joins Skechers Performance elite athletes including PGA golfer Matt Kuchar, America’s number one marathoner Meb Keflezighi and world-class runner Kara Goucher.
LPGA Golf Pro Belén Mozo for Skechers GO GOLF (Photo: Business Wire)
“I’m so excited to join the Skechers Performance family,” said Belén Mozo. “They put the same energy and passion into designing a great shoe as I do toward elevating my game. The golf shoes are highly technical and athletic, but also comfortable and colorful, which make them the perfect fit for my lifestyle and personality.”
“Belén Mozo is a born competitor, and we couldn’t be more thrilled to have her join Skechers GO GOLF as our first female brand ambassador as we grow this division,” said Rick Higgins, vice president of merchandising/marketing for Skechers Performance. “As with all of our athlete integrations, she has been instrumental in the development of the women’s GO GOLF range including her own custom Skechers GO GOLF Blade to release later this year.”
Born in Cadiz, Spain, Mozo began golfing at eight years old and continued her amateur career at the University of Southern California, where she became a four-time NCAA All-American. In 2006, she was the first player since 1972 to win the Women’s British Amateur and the British Girls Amateur Championships in the same year. After turning pro in 2010, Mozo qualified for the LPGA Tour on her first attempt and has since gone on to become a rising star in women’s professional golf. Mozo made a strong statement in 2014 when she led the Spanish team to victory at the inaugural LPGA International Crown.
Mozo added, “My Skechers GO GOLF shoes make me look good and feel good, and I know they will help me to perform and look my very best. I’m proud to be part of a team that shares my commitment to be the best. I’m thrilled to be able to apply my own feedback to help Skechers Performance create shoes that both casual and avid golfers will love.”
Skechers Performance entered the women’s golf market building off of the success of the GOwalk category. The women’s GO GOLF collection includes a variety of styles that feature Skechers Performance groundbreaking GOwalk technologies and are enhanced with golf-specific performance innovations. Combining proprietary features such as Goga Mat™ Technology for high-rebound cushioning, GOimpulse™ Sensors with Resagrip™ for traction control and added water-resistant treatments, Skechers GO GOLF offers high-performance golf shoes with the comfort Skechers Performance consumers know and trust. Additionally, the Skechers Performance team of athletes and ambassadors around the world directly influence design fit, function and aesthetics.
The Skechers Performance GO GOLF women’s spring/summer 2015 collection will be on display at the PGA Show on January 21-23, booth number 2313. The latest line features new color offerings of GO GOLF category favorites and the introduction of new women’s styles including the GO GOLF Kiltie.
Skechers GO GOLF is available at SKECHERS retail stores, select retailers including golf pro shops and online. Learn more at Skechers.com/golf and follow us on Facebook facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO), YouTube (youtube.com/user/skechersperformance) and Instagram (instagram.com/skechersperformance). Skechers Performance offers an extensive collection of high-performance footwear spanning across multiple categories including golf, running, walking, training and trail. GO LIKE NEVER BEFORE.
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. (NYSE: SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name. SKECHERS footwear is available in the United States via department and specialty stores, company-owned SKECHERS retail stores and its e-commerce website, and over 100 countries and territories through the company’s global network of distributors and subsidiaries in Brazil, Canada, Chile, Japan and across Europe, as well as through joint ventures in Asia. For more information, please visit www.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 growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. 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, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; consumer preferences and rapid changes in technology in 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, 2013 and its quarterly report on Form 10-Q for the three months ended September 30, 2014. 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 | Nov 12, 2014 | Press Release
Nov 12, 2014 • 9:00 am EST
Skechers Retail Stores Now Located in More Than 75 Countries Worldwide
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– After winning the 2014 Company of the Year award from Footwear News and experiencing third quarter 2014 growth that resulted in the Company’s highest quarterly revenues in its history, SKECHERS achieved a new milestone: the opening of the one thousandth SKECHERS retail store.
A new SKECHERS retail store that opened in California in 2014 (Photo: Business Wire)
The far-reaching locations of SKECHERS stores around the world illustrate the extensive global reach of the brand across six continents and more than 75 countries. The Company hit the thousandth store mark with the opening of a new store in Mexico City today, preceded by an additional store opening in Mexico earlier this week and two in California last week.
“When we opened the first SKECHERS retail store almost 20 years ago, it was hard to imagine we’d one day hit this amazing milestone that truly showcases our global reach,” said Michael Greenberg, president of SKECHERS. “Being profitable marketing vehicles, every SKECHERS store is a living, breathing catalog that offers consumers the largest assortment of SKECHERS, and now we’re improving that experience with an omnichannel approach to retail in our domestic market. As a key component of our distribution model, SKECHERS retail stores strategically grow our footprint and combine with marketing to support our wholesale business and build brand awareness worldwide.”
The first SKECHERS retail store opened in 1995 down the street from the Company’s Manhattan Beach, CA, corporate headquarters, and the first international stores opened in 2001 in Paris, London and Tokyo. The Company continued its global expansion, opening in new markets each year, including earlier this year with its first stores in Angola, Algeria, Belarus, Georgia, Latvia, Libya and Romania to be followed by Slovakia, Nepal and Zimbabwe later this year. By the end of 2014, an additional 35-45 SKECHERS stores will open worldwide bringing our total to approximately 1,050 stores. The look and feel of the SKECHERS company-owned and franchisee stores is consistent around the world.
SKECHERS offers an assortment of more than 3,000 lifestyle and performance footwear styles for men, women and kids. The Company raises awareness for its collections through celebrity endorsees that currently include: iconic drummer Ringo Starr, multi-platinum recording artist Demi Lovato, English model and actress Kelly Brook, TV personality Brooke Burke-Charvet, country music star Danielle Bradbery, legendary quarterbacks Joe Montana and Joe Namath, as well as baseball stars Pete Rose and Mariano Rivera. In addition, Boston Marathon winner Meb Keflezighi, elite runner Kara Goucher, and pro golfer Matt Kuchar represent the Skechers Performance Division.
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 via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company’s international network of subsidiaries in Canada, Brazil, Chile, Japan, and across Europe, as well as through joint ventures in Asia and distributors around the world. 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 growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. 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 the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; 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, 2013, and its Form 10-Q for the quarter ended June 30, 2014. 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
