by Zach | Feb 6, 2025 | Press Release
Feb 6, 2025 • 4:05 pm EST
LOS ANGELES–(BUSINESS WIRE)–
Skechers U.S.A., Inc. (“Skechers” or the “Company”) (NYSE:SKX), The Comfort Technology Company® and a global footwear leader, today announced financial results for the fourth quarter and full year ended December 31, 2024.
Full Year 2024 Highlights
Fourth Quarter 2024 Highlights
“We delivered record full year sales of $8.97 billion in 2024, or $9.04 billion on a constant currency basis, reflecting the continued robust global consumer demand supported by effective marketing campaigns,” began David Weinberg, Chief Operating Officer of Skechers. “The year ended with a strong holiday season that enabled record fourth quarter sales of $2.21 billion. Quarterly sales reflect 17% growth in Wholesale and 8% in Direct-to-Consumer, as well as 18% domestically and 10% internationally. By region, sales grew 14% in the Americas, 25% in EMEA, and 3% in APAC, despite continued headwinds in China. We saw particularly strong results in the United States, across Europe, in India and in Japan. Though challenging market and shipping conditions persisted in a few countries, the strength of our business is attributable to our differentiated market position, a highly attractive value proposition that combines comfort, innovation, style and quality at an attainable price. We continue to advance our product innovation with comfort technologies across the portfolio, the latest example of which is our Skechers Cricket footwear in India. Additionally, we remain committed to investing in our operations, including the expansion of our distribution centers in North America, China and Europe, as well as delivering an exceptional customer experience in Direct-to-Consumer such as with the opening of our first experiential performance store in Edmonton.”
“Our 2024 record sales were driven by a strong response to our comfort technology products, and the outstanding execution of our talented and dedicated team in developing, marketing and managing the strategic allocation of our footwear, apparel and accessories worldwide,” began Robert Greenberg, Chief Executive Officer of Skechers. “The flexibility, determination and creative spirit of the Skechers organization is unparalleled. Our innovative comfort business closely aligns with the needs of consumers of all ages, genders, activities and professions who are embracing our lifestyle and performance product offering. The global demand for our business is a true testament to our ability to continuously evolve our diverse product portfolio and effectively create excitement for our innovations through powerful marketing campaigns. The success of our Skechers Hands Free Slip-ins during the holiday period was fueled in part by campaigns featuring Howie Mandel and Martha Stewart, among others. In our Performance Division, in 2024 we expanded our team of athletes with noted soccer players across Europe, Asia and South America, and NBA and WNBA basketball players, including Philadelphia 76ers’ Joel Embiid, LA Sparks’ Rickea Jackson, and most recently Charlotte Hornets’ Josh Green – all of whom have sought out Skechers for our comfort that performs. While the lifestyle division with our many innovative features remains a key sales driver, we are committed to ensuring athletes at all levels can comfortably excel, and we believe our performance division with basketball, soccer, golf, running and pickleball footwear also has tremendous growth opportunity globally. We are confident in our strategic product, marketing and operational plans executed by our dedicated team will result in notable achievements and continued growth in the coming year.”
Fourth Quarter 2024 Financial Results
Three Months Ended December 31,
Change
(in millions, except per share data)
2024
2023
$
%
Sales
$
2,212.4
$
1,960.9
251.5
12.8
Gross profit
1,178.3
1,041.4
136.9
13.1
Gross margin
53.3
%
53.1
%
20 bps
Operating expenses
1,012.8
911.1
101.7
11.2
As a % of sales
45.8
%
46.5
%
(70) bps
Earnings from operations
165.5
130.3
35.2
27.0
Operating margin
7.5
%
6.6
%
80 bps
Net earnings attributable to Skechers U.S.A., Inc.
99.3
87.2
12.1
13.9
Diluted earnings per share
$
0.65
$
0.56
0.09
16.1
Fourth quarter sales increased 12.8% as a result of an 18.0% increase domestically and a 9.8% increase internationally. Wholesale increased 17.5% and Direct-to-Consumer increased 8.4%. On a constant currency basis, sales increased 14.1%.
Wholesale sales grew $168.1 million, or 17.5%, including increases in AMER of 21.9%, EMEA of 21.7%, and APAC of 4.6%. Wholesale volume increased 18.1% and average selling price declined 0.6%.
Direct-to-Consumer sales grew $83.4 million, or 8.4%, including increases in AMER of 7.6%, EMEA of 32.7%, and APAC of 2.5%. Direct-to-Consumer volume increased 9.7% and average selling price declined 1.2%.
Gross margin was 53.3%, an increase of 20 basis points, due to favorable channel mix.
Operating expenses increased $101.7 million, or 11.2%, and as a percentage of sales decreased 70 basis points to 45.8%. Selling expenses increased $14.2 million, or 7.7%, and as a percentage of sales decreased 40 basis points to 8.9%. The increase was primarily due to demand creation expenditures, which improved as a percentage of sales. General and administrative expenses increased $87.5 million, or 12.0%, and as a percentage of sales decreased 30 basis points to 36.9%. Increased expenses were primarily driven by labor and facility costs, including rent and depreciation.
Earnings from operations increased $35.2 million, or 27.0%, to $165.5 million.
Net earnings attributable to Skechers were $99.3 million and diluted earnings per share were $0.65 compared with prior year net earnings of $87.2 million and diluted earnings per share of $0.56. The current year was impacted by unfavorable foreign currency exchange rates. On a constant currency basis, diluted earnings per share were $0.86, or an increase of 53.6%.
In the fourth quarter, the Company’s effective income tax rate was 11.8%. Compared to the prior year, the decrease was due to a favorable mix of earnings in lower tax jurisdictions and impacts from foreign currency losses.
“Skechers delivered exceptional results in 2024 and exceeded our expectations on a constant currency basis with full year sales of $9.04 billion and earnings per share of $4.40,” stated John Vandemore, Chief Financial Officer of Skechers. “Rooted in our innovative comfort technology products and compelling value proposition, our financial performance illustrates the strength of our global diversification and compelling product offering.”
Full Year 2024 Financial Results
Year Ended December 31,
Change
(in millions, except per share data)
2024
2023
$
%
Sales
$
8,969.4
$
8,000.3
969.1
12.1
Gross profit
4,767.4
4,152.4
615.0
14.8
Gross margin
53.2
%
51.9
%
120 bps
Operating expenses
3,863.1
3,367.6
495.5
14.7
As a % of sales
43.1
%
42.1
%
100 bps
Earnings from operations
904.3
784.8
119.5
15.2
Operating margin
10.1
%
9.8
%
30 bps
Net earnings attributable to Skechers U.S.A., Inc.
639.5
545.8
93.7
17.2
Diluted earnings per share
$
4.16
$
3.49
0.67
19.2
Full year sales increased 12.1%, reflecting 12.1% increases in both international and domestic sales. Wholesale increased 13.2% and Direct-to-Consumer increased 10.7%. On a constant currency basis, sales increased 13.0%.
Wholesale sales increased $595.7 million, or 13.2%, due to increases in AMER of 14.5%, EMEA of 16.7%, and APAC of 5.7%. Wholesale volume increased 13.7% and average selling price declined 0.4%.
Direct-to-Consumer sales grew $373.4 million, or 10.7%, due to increases in EMEA of 38.3%, AMER of 6.6%, and APAC of 8.0%. Direct-to-Consumer volume increased 11.2% and average selling price declined 0.5%.
Gross margin was 53.2%, an increase of 120 basis points, due to lower costs per unit, driven by lower freight.
Operating expenses increased $495.5 million or 14.7%. As a percentage of sales, operating expenses increased 100 basis points to 43.1%. Selling expenses increased $123.7 million or 18.3%, primarily due to higher global demand creation expenditures. General and administrative expenses increased $371.8 million or 13.8%, primarily driven by labor and facility costs, including rent and depreciation.
Earnings from operations increased $119.5 million to $904.3 million, resulting in an operating margin of 10.1%.
Net earnings attributable to Skechers were $639.5 million and diluted earnings per share were $4.16, an increase of 19.2% over the prior year. The current year was impacted by unfavorable foreign currency exchange rates. On a constant currency basis, diluted earnings per share were $4.40, or an increase of 26.1%.
The Company’s effective income tax rate was 16.9%. Compared to the prior year, the decrease was due to a favorable mix of earnings in lower tax jurisdictions, the release of certain allowances and other provision adjustments.
Balance Sheet
Cash, cash equivalents and investments totaled $1.38 billion, a decrease of $4.8 million, or 0.3% from December 31, 2023, due to capital expenditures of $416.8 million and $330.1 million of share repurchases, partially offset by earnings.
Inventory was $1.92 billion, an increase of $394.0 million or 25.8% from December 31, 2023, due to growth in our business, which included elevated merchandise in-transit, partially attributable to the Suez Canal disruption.
Share Repurchases
During the fourth quarter, the Company repurchased 1.9 million shares of its Class A common stock at a cost of $120.0 million. In 2024, the Company repurchased 5.2 million shares of its Class A common stock at a cost of $330.1 million. As of December 31, 2024, $789.9 million remained available under the Company’s share repurchase program.
Outlook
For the fiscal year 2025, the Company believes it will achieve sales between $9.70 and $9.80 billion and diluted earnings per share between $4.30 and $4.50. The Company believes that for the first quarter of 2025, it will achieve sales between $2.40 and $2.43 billion and diluted earnings per share between $1.10 and $1.15. The Company believes the income tax rate for fiscal year 2025 will be between 22% and 23%, reflecting the impact of global minimum tax regulations. Further, the Company believes that total capital expenditures will be between $600 and $700 million in 2025, which includes investment in expanding our distribution centers in the U.S. and China for future growth.
Store Count
Number of Stores
December 31, 2023
Opened
Closed
December 31, 2024
Domestic stores
563
62
(15
)
610
International stores
1,085
206
(114
)
1,177
Distributor, licensee and franchise stores
3,520
413
(424
)
3,509
Total Skechers stores
5,168
681
(553
)
5,296
Fourth Quarter 2024 Conference Call
The Company will host a conference call at 4:30 p.m. ET / 1:30 p.m. PT on February 6, 2025 to discuss its fourth quarter 2024 financial results. The call can be accessed on the Investor Relations section of the Company’s website at investors.skechers.com. For those unable to participate during the live broadcast, a replay will be available beginning February 6, 2025, at 7:30 p.m. ET, through February 20, 2025, at 11:59 p.m. ET. To access the replay, dial 844-512-2921 (U.S.) or 412-317-6671 (International) and use passcode: 13750671.
About Skechers U.S.A., Inc.
Skechers, The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in approximately 180 countries and territories through third-party retailers, marketplaces, skechers.com, and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.
Reference in this press release to “Sales” refers to Skechers’ net sales reported under GAAP. This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “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 disruption of business and operations due to` delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business 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)
As of
As of
(in thousands)
December 31, 2024
December 31, 2023
ASSETS
Current assets
Cash and cash equivalents
$
1,116,516
$
1,189,910
Short-term investments
118,470
72,595
Trade accounts receivable, net
990,558
860,300
Other receivables
98,499
82,253
Inventory
1,919,386
1,525,409
Prepaid expenses and other
205,994
222,137
Total current assets
4,449,423
3,952,604
Property, plant and equipment, net
1,834,930
1,506,690
Operating lease right-of-use assets
1,363,596
1,276,171
Deferred tax assets
440,358
450,574
Long-term investments
146,687
123,996
Goodwill
94,494
101,230
Other assets, net
126,270
136,086
Total non-current assets
4,006,335
3,594,747
TOTAL ASSETS
$
8,455,758
$
7,547,351
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable
$
1,241,838
$
1,008,001
Accrued expenses
330,251
320,105
Operating lease liabilities
297,926
274,296
Current installments of long-term borrowings
353,131
46,571
Short-term borrowings
33,338
11,894
Total current liabilities
2,256,484
1,660,867
Long-term operating lease liabilities
1,176,290
1,108,110
Long-term borrowings
68,450
242,944
Deferred tax liabilities
11,148
12,594
Other long-term liabilities
123,122
122,794
Total non-current liabilities
1,379,010
1,486,442
Total liabilities
3,635,494
3,147,309
Redeemable noncontrolling interest
90,099
89,832
Stockholders’ equity
Preferred Stock
—
—
Class A Common Stock
130
133
Class B Common Stock
19
20
Additional paid-in capital
12,170
295,847
Accumulated other comprehensive loss
(171,221
)
(73,388
)
Retained earnings
4,436,201
3,796,730
Skechers U.S.A., Inc. equity
4,277,299
4,019,342
Noncontrolling interests
452,866
290,868
Total stockholders’ equity
4,730,165
4,310,210
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY
$
8,455,758
$
7,547,351
SKECHERS U.S.A., INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(Unaudited)
Three Months Ended December 31,
Year Ended December 31,
(in thousands, except per share data)
2024
2023
2024
2023
Sales
$
2,212,416
$
1,960,940
$
8,969,351
$
8,000,342
Cost of sales
1,034,094
919,557
4,201,912
3,847,938
Gross profit
1,178,322
1,041,383
4,767,439
4,152,404
Operating expenses
Selling
197,100
182,926
800,634
676,890
General and administrative
815,718
728,164
3,062,548
2,690,728
Total operating expenses
1,012,818
911,090
3,863,182
3,367,618
Earnings from operations
165,504
130,293
904,257
784,786
Other (expense) income
(34,697
)
10,426
(26,508
)
16,086
Earnings before income taxes
130,807
140,719
877,749
800,872
Income tax expense
15,405
28,589
148,136
150,949
Net earnings
115,402
112,130
729,613
649,923
Less: Net earnings attributable to noncontrolling interests and redeemable noncontrolling interest
16,076
24,948
90,142
104,124
Net earnings attributable to Skechers U.S.A., Inc.
$
99,326
$
87,182
$
639,471
$
545,799
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic
$
0.66
$
0.57
$
4.21
$
3.53
Diluted
$
0.65
$
0.56
$
4.16
$
3.49
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A., Inc.
Basic
150,163
153,516
151,838
154,533
Diluted
152,239
155,571
153,843
156,256
SKECHERS U.S.A., INC. AND SUBSIDIARIES
Supplemental Financial Information
(Unaudited)
Segment Information
Three Months Ended December 31,
Change
(in millions)
2024
2023
$
%
Wholesale sales
$
1,130.7
$
962.6
168.1
17.5
Cost of sales
661.6
569.4
92.2
16.2
Gross profit
469.1
393.2
75.9
19.3
Gross margin
41.5
%
40.9
%
60 bps
Direct-to-Consumer sales
$
1,081.7
$
998.3
83.4
8.4
Cost of sales
372.5
350.2
22.3
6.4
Gross profit
709.2
648.2
61.0
9.4
Gross margin
65.6
%
64.9
%
60 bps
Total sales
$
2,212.4
$
1,960.9
251.5
12.8
Cost of sales
1,034.1
919.5
114.6
12.5
Gross profit
1,178.3
1,041.4
136.9
13.1
Gross margin
53.3
%
53.1
%
20 bps
Year Ended December 31,
Change
(in millions)
2024
2023
$
%
Wholesale sales
$
5,100.5
$
4,504.8
595.7
13.2
Cost of sales
2,892.9
2,658.0
234.9
8.8
Gross profit
2,207.6
1,846.8
360.8
19.5
Gross margin
43.3
%
41.0
%
230 bps
Direct-to-Consumer sales
$
3,868.9
$
3,495.5
373.4
10.7
Cost of sales
1,309.1
1,190.0
119.1
10.0
Gross profit
2,559.8
2,305.6
254.2
11.0
Gross margin
66.2
%
66.0
%
20 bps
Total sales
$
8,969.4
$
8,000.3
969.1
12.1
Cost of sales
4,202.0
3,847.9
354.1
9.2
Gross profit
4,767.4
4,152.4
615.0
14.8
Gross margin
53.2
%
51.9
%
120 bps
Additional Sales Information
Three Months Ended December 31,
Change
(in millions)
2024
2023
$
%
Geographic sales
Domestic
Wholesale
$
429.7
$
327.5
102.2
31.2
Direct-to-Consumer
411.9
385.4
26.5
6.8
Total domestic sales
841.6
712.9
128.7
18.0
International
Wholesale
701.0
635.1
65.9
10.4
Direct-to-Consumer
669.8
612.9
56.9
9.3
Total international sales
1,370.8
1,248.0
122.8
9.8
Total sales
$
2,212.4
$
1,960.9
251.5
12.8
Regional sales
Americas (AMER)
$
1,091.4
$
955.4
136.0
14.2
Europe, Middle East & Africa (EMEA)
478.6
383.5
95.1
24.8
Asia Pacific (APAC)
642.4
622.0
20.4
3.3
Total sales
$
2,212.4
$
1,960.9
251.5
12.8
China sales
$
333.5
$
376.7
(43.2
)
(11.5
)
Distributor sales
$
142.9
$
139.6
3.3
2.4
Year Ended December 31,
Change
(in millions)
2024
2023
$
%
Geographic sales
Domestic
Wholesale
$
1,867.2
$
1,567.8
299.4
19.1
Direct-to-Consumer
1,553.0
1,482.4
70.6
4.8
Total domestic sales
3,420.2
3,050.2
370.0
12.1
International
Wholesale
3,233.3
2,937.0
296.3
10.1
Direct-to-Consumer
2,315.9
2,013.1
302.8
15.0
Total international sales
5,549.2
4,950.1
599.1
12.1
Total sales
$
8,969.4
$
8,000.3
969.1
12.1
Regional sales
Americas (AMER)
$
4,367.9
$
3,945.7
422.2
10.7
Europe, Middle East & Africa (EMEA)
2,224.4
1,831.8
392.6
21.4
Asia Pacific (APAC)
2,377.1
2,222.8
154.3
6.9
Total sales
$
8,969.4
$
8,000.3
969.1
12.1
China sales
$
1,218.2
$
1,228.6
(10.4
)
(0.9
)
Distributor sales
$
509.8
$
463.9
45.9
9.9
SKECHERS U.S.A., INC. AND SUBSIDIARIES
Reconciliation of GAAP Earnings Financial Measures to Corresponding Non-GAAP Financial Measures
(Unaudited)
Constant Currency Adjustment (Non-GAAP Financial Measure)
We evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of period-over-period fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the Company’s performance. We calculate constant currency percentages by converting our current period local currency financial results using the prior-period exchange rates and comparing these adjusted amounts to our prior period reported results.
Three Months Ended December 31,
2024
2023
Change
(in millions, except per share data)
Reported GAAP Measure
Constant Currency Adjustment
Adjusted for Non-GAAP Measures
Reported GAAP Measure
$
%
Sales
$
2,212.4
$
24.2
$
2,236.6
$
1,960.9
$
275.7
14.1
Cost of sales
1,034.1
10.6
1,044.7
919.5
125.2
13.6
Gross profit
1,178.3
13.6
1,191.9
1,041.4
150.5
14.5
Operating expenses
1,012.8
11.1
1,023.9
911.1
112.8
12.4
Earnings from operations
165.5
2.5
168.0
130.3
37.7
28.9
Other (expense) income
(34.7
)
31.3
(3.4
)
10.4
(13.8
)
n/m
Income tax expense
15.4
2.3
17.7
28.6
(10.9
)
(38.0
)
Less: Noncontrolling interests and redeemable noncontrolling interest
16.1
0.5
16.6
24.9
(8.3
)
(33.6
)
Net earnings attributable to Skechers U.S.A., Inc.
$
99.3
$
31.0
$
130.3
$
87.2
$
43.1
49.4
Diluted earnings per share
$
0.65
$
0.21
$
0.86
$
0.56
$
0.30
53.6
Year Ended December 31,
2024
2023
Change
(in millions, except per share data)
Reported GAAP Measure
Constant Currency Adjustment
Adjusted for Non-GAAP Measures
Reported GAAP Measure
$
%
Sales
$
8,969.4
$
71.8
$
9,041.2
$
8,000.3
$
1,040.9
13.0
Cost of sales
4,202.0
31.0
4,233.0
3,847.9
385.1
10.0
Gross profit
4,767.4
40.8
4,808.2
4,152.4
655.8
15.8
Operating expenses
3,863.1
31.7
3,894.8
3,367.6
527.2
15.7
Earnings from operations
904.3
9.1
913.4
784.8
128.6
16.4
Other (expense) income
(26.6
)
35.2
8.6
16.0
(7.4
)
(46.3
)
Income tax expense
148.1
4.2
152.3
150.9
1.4
0.9
Less: Noncontrolling interests and redeemable noncontrolling interest
90.1
2.3
92.4
104.1
(11.7
)
(11.3
)
Net earnings attributable to Skechers U.S.A., Inc.
$
639.5
$
37.8
$
677.3
$
545.8
$
131.5
24.1
Diluted earnings per share
$
4.16
$
0.24
$
4.40
$
3.49
$
0.91
26.1
n/m: not meaningful.
Investor Relations
Sonia Reback
Eunice Han
[email protected]
Press
Jennifer Clay
[email protected]
Source: Skechers U.S.A., Inc.
by Zach | Feb 4, 2025 | Press Release
Feb 4, 2025 • 10:00 am EST
LOS ANGELES–(BUSINESS WIRE)–
Skechers, the third largest footwear brand in the world with $8 billion in annual sales in 2023, teams up with Andy Reid, the coach behind back-to-back Super Bowl victories, for the brand’s 12th Big Game appearance. Reid’s Skechers Hands Free Slip-ins® campaign features the Kansas City Chiefs leader and a big reveal: his unexpected side hustle helped by the comfort and convenience of Skechers’ innovative and effortless signature footwear collection. Watch the commercial debut during the FOX broadcast on Sunday, February 9th or view it here.
Skechers returns to the Big Game with Coach Andy Reid in Skechers Hands Free Slip-ins® commercial. (Photo: Business Wire)
Skechers returns to the Big Game with Coach Andy Reid in Skechers Hands Free Slip-ins® commercial. (Photo: Business Wire)
“I’m a no-nonsense football guy who needs everything around me to be easy so I can just focus on the game—especially when it’s for the championship,” said Andy Reid. “These Skechers Hands Free Slip-ins have made my routine quicker and easier. No one wants to go into overtime just because of their shoes, and best of all they give me time to focus on my second career that you’ll see in my first commercial for Skechers!”
“Our belief in Coach Reid and his ability to lead champions resonated with us as Skechers dives deeper into the performance world with innovative products for soccer, basketball and more,” added Michael Greenberg, president of Skechers. “This is the perfect venue to present our campaign as he’s coaching with the chance for an unprecedented third straight win. With more than three decades of Skechers, the third-largest footwear brand in the world, maybe a three-peat for the coach is in the cards. Andy also proves that there’s endless unexpected possibilities when you go hands-free with the signature comfort and convenience of Skechers Slip-ins!”
Appearing for the 12th year in 2025, Skechers has been a perennial advertiser during the Big Game. The brand’s first appearance starred Joe Montana in 2010, and last year it featured Mr. T and Tony Romo. Other notable past Skechers Big Game commercial highlights include Snoop Dogg and Martha Stewart, Mark Cuban with a French bulldog named Mr. Quiggly, as well as Willie Nelson singing “On the Road Again.”
Skechers offers its complete range of footwear, including Skechers Hands Free Slip-ins, at Skechers retail stores and skechers.com, as well as at department stores and footwear retailers around the globe.
About Skechers U.S.A., Inc.
Skechers (NYSE:SKX), The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “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 disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
Media Contact:
Jennifer Clay
Skechers U.S.A., Inc.
[email protected]
Source: Skechers U.S.A., Inc.
by Zach | Jan 21, 2025 | Press Release
Jan 21, 2025 • 9:00 am EST
The new retail destination at Canada’s West Edmonton Mall offers an immersive experience featuring half-courts and the Company’s extensive performance range including Skechers’ innovative basketball, running, golf, soccer and pickleball technologies
EDMONTON, Alberta–(BUSINESS WIRE)–
Skechers is revolutionizing its retail experience with its first Skechers Performance store, an immersive destination with half-courts where consumers can try out the latest innovative products from The Comfort Technology Company®. The experiential destination at West Edmonton Mall in Canada is fittingly dedicated to showcasing the brand’s extensive offering of award-winning technologies worn by leading athletes around the globe.
Skechers has launched the Company’s first Skechers Performance store at West Edmonton Mall in Canada—an experiential retail space complete with half-courts and the brand’s extensive offering including its renowned basketball, running, golf, soccer and pickleball technologies. (Photo: Business Wire)
Skechers has launched the Company’s first Skechers Performance store at West Edmonton Mall in Canada—an experiential retail space complete with half-courts and the brand’s extensive offering including its renowned basketball, running, golf, soccer and pickleball technologies. (Photo: Business Wire)
“With the world’s elite pros wearing our shoes from the court to the pitch, mound and green, our retail stores’ innovative performance products have become a magnet for athletes who want game-changing product with essential comfort—and the time has come to launch a new play,” said Michael Greenberg, president of Skechers. “Our new performance store offers competitors at every level the complete experience: from our largest-ever offering of performance footwear, apparel and accessories, to Skechers specialists and educators for our diverse sport technologies, and courts where consumers can discover how our product performs without ever leaving the store.”
Showcasing Skechers’ commitment to game-changing product, the Company’s new location offers a gallery of the brand’s innovations for players at every skill level. In addition to dedicated areas for Skechers Pickleball and Skechers Basketball, consumers can experience the brand’s extensive offering for golf, soccer, running, training, walking, trail and hiking—all with signature performance and comfort features like Skechers Hyper Burst Pro™ Technology, Skechers Performance FitKnit® Technology, Skechers Hands Free Slip-ins® Technology, Skechers Arch Fit® Technology and Skechers Max Cushioning® Technology.
At 7,500+ square feet, the Company’s reimagined location at West Edmonton Mall now features an expansive sales floor, the largest among Skechers concept stores worldwide. Surrounded by state-of-the-art digital LED screens, the destination includes half-size pickleball and basketball courts in a modern, elevated architectural space that embraces the spirit of Edmonton.
“Edmonton’s vibrant sports culture and passion for hosting year-round athletic events make it the perfect home for Skechers’ first performance destination—and as the second largest mall in North America, West Edmonton Mall is a massive draw that will attract all walks of life to this exciting new concept,” said David Beecroft, country manager of Skechers Canada, who teamed up with NHL legend and media personality Paul Bissonnette to open the new store. “Paul’s an avid sports fan—and his presence at our opening event has attracted his fans and fellow enthusiasts, who are excited to see how much we’re investing in the performance space and how much our product can elevate their game.”
Skechers’ roster of elite pros around the world competing in Skechers footwear includes basketball stars Julius Randle, Jabari Walker, Terance Mann, Joel Embiid, and Rickea Jackson; golfers Matt Fitzpatrick and Brooke Henderson; soccer players Harry Kane, Mohammed Kudus, Oleksandr Zinchenko and Barış Alper Yılmaz among many others; pickleball pros Tyson McGuffin and Catherine Parenteau; Indian Premier League cricket stars Ishan Kishan and Yastika Bhatia; and baseball players Clayton Kershaw, Chris Taylor, Brendan Donovan, Aaron Nola and Wade Miley.
Skechers’ extensive product offering is also available at more than 5,300 Skechers retail stores, skechers.com, and department stores and footwear retailers around the globe.
About Skechers Canada and Skechers U.S.A., Inc.
Skechers Canada is a subsidiary of Skechers U.S.A., The Comfort Technology Company® based in Southern California. Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “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 disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
Media Contacts:
Carly Newton
PR Specialist Canada
437.439.6690
[email protected]
Jennifer Clay
SKECHERS U.S.A., Inc.
[email protected]
Source: Skechers U.S.A., Inc.
by Zach | Jan 8, 2025 | Press Release
Jan 8, 2025 • 4:05 pm EST
LOS ANGELES–(BUSINESS WIRE)–
Skechers USA, Inc. (NYSE: SKX), a global footwear leader, today announced that the Company will release its fourth quarter and full year 2024 financial results after market close on Thursday, February 6, 2025. Following the press release, David Weinberg, Chief Operating Officer, and John Vandemore, Chief Financial Officer, will review the results during a conference call at approximately 4:30 p.m. ET / 1:30 p.m. PT.
The conference call will be broadcast live over the Internet and accessible on the Investor Relations section of the Company’s website at investors.skechers.com. For those unable to listen to the live broadcast, a replay will be available at the same location and archived on the site for one year.
About Skechers USA, Inc.
Skechers®, The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.
Investor Relations
Sonia Reback
Eunice Han
[email protected]
Press
Jennifer Clay
[email protected]
Source: Skechers USA, Inc.
by Zach | Dec 19, 2024 | Press Release
Dec 19, 2024 • 3:00 am EST
The Company’s Centrally-Located Retail Destination on Na Příkopě Street will Expand its Presence Among Locals and Tourists in the Czech Republic
PRAGUE–(BUSINESS WIRE)–
Skechers announced that The Comfort Technology Company® has opened a new flagship store in the center of Prague. Ideally located on the city’s High Street Na Příkopě, the destination offers an extensive offering of footwear, apparel and accessories for the entire family, including Skechers Hands Free Slip-ins® and Skechers Uno.
Skechers expands its retail presence in central Prague with its new concept store on the city’s popular High Street, Na Příkopě. (Photo: Business Wire)
Skechers expands its retail presence in central Prague with its new concept store on the city’s popular High Street, Na Příkopě. (Photo: Business Wire)
“Skechers has universally become the brand that consumers look to for style, comfort and value, everywhere they live or travel,” said Michael Greenberg, president of Skechers. “We have had great success expanding our business across Europe, most recently increasing our third quarter 2024 EMEA sales by 30 percent over last year—and see our growing consumer presence in the Czech Republic as an opportunity to build on our strong momentum in the region.”
“Skechers retail destinations are paramount to connecting our signature styles and comfort technologies with millions of consumers. They offer living galleries of our diverse product offering, and it’s a visceral experience to walk in, hold and try on styles for every age,” added Petar Dulić, general manager of Skechers CEE, Kft. “With this central retail store between Old Town and New Town Prague, we offer more accessibility and convenience than ever to locals and tourists.”
Located on a boulevard frequented by 120,000 people daily, the 596-meter store at Na Příkopě 9 showcases the brand’s new and popular lifestyle footwear collections and features dedicated Skechers Performance focal walls, apparel and accessory sections, and products for every age and activity, including fashion, sport, casual, work and children’s styles. Illuminated by natural and LED lighting designed with renewable EU-manufactured biopolymer materials, the mid-century modern space features a large video wall and sleek wraparound lightbox column positioned above a custom feature table, with a modern light fixture integrated above.
From fashion styles to lifestyle product and performance shoes for sport enthusiasts, Skechers’ offering is enhanced with the Company’s signature comfort innovations—including its Skechers Hands Free Slip-ins® Technology, Massage Fit® Technology, Skechers Arch Fit® Technology, Skechers Max Cushioning® Technology, Skechers Hyper Burst® Technology, Skechers Air-Cooled Memory Foam®, Skechers Relaxed Fit® Technology and Skechers Stretch Fit® Technology.
There are now eight Skechers retail locations in the Czech Republic, including five additional locations in Prague and stores in Modřice and Ostrava. Consumers can also shop at approximately 5,300 Skechers stores worldwide, Skechers.cz and leading retailers in the region.
About Skechers CEE, Kft. and Skechers U.S.A., Inc.
Skechers CEE, Kft. is a subsidiary of Skechers U.S.A., Inc. (NYSE:SKX), The Comfort Technology Company® based in Southern California. Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook and Instagram.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “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 disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
Media Contact:
Jennifer Clay
SKECHERS U.S.A., Inc.
[email protected]
(310) 937-1326
Source: Skechers U.S.A., Inc.
by Zach | Dec 3, 2024 | Press Release
Dec 3, 2024 • 8:50 am EST
LOS ANGELES–(BUSINESS WIRE)–
This Giving Tuesday, Skechers celebrates its latest charitable milestone: reaching $12 million in total donations since the inception of its philanthropic BOBS® from Skechers® collection in 2015. Through sales of the BOBS brand, Skechers’ contributions have now helped save and support more than 2.2 million shelter pets across the United States, Canada, the U.K. and Japan.
The philanthropic BOBS from Skechers brand has reached $12 million in total donations—funds that have saved and supported more than 2.2 million animals in need. (Photo: Business Wire)
The philanthropic BOBS from Skechers brand has reached $12 million in total donations—funds that have saved and supported more than 2.2 million animals in need. (Photo: Business Wire)
“Like so many of the animals we’ve helped save, our BOBS from Skechers journey has taken us to surprising, emotional and joyous places these past nine years,” said Michael Greenberg, president of Skechers. “We’ve really grown a movement across North America. Through our partnership with Petco Love and its 4,000-strong animal welfare organization network, we have provided much-needed grants to shelters that save dogs and cats, offered disaster relief in times of crisis, eased overcrowded shelters to give more animals a chance at survival, and given people the unconditional love of a furry friend. It’s even changed our employees as a company of pet lovers—inspiring us to organize adoption events at our stores and start our Paws for a Cause Design Scholarship, which gives consumers a chance to wear talented students’ shoe patterns and recognizes their deeply personal shelter pet stories.”
“From supporting our lifesaving mission to celebrating our Love Stories winners and recipient animal welfare partner organizations, Skechers has been there to honor the joys that come with saving lives,” added Susanne Kogut, president of national non-profit organization Petco Love. “With more than $8.4 million given to Petco Love, Skechers has dedicated its team, time and resources to rally for our extensive network of organizations, events, and causes. We are grateful for their years of commitment and look forward to saving even more shelter pets together.”
Beyond Skechers’ and Petco Love’s impact on dogs and cats in the United States and Canada, the Company’s lifesaving movement includes partnerships with Woodgreen Pets Charity in the U.K. and ALMA in Japan. Through purchases of BOBS from Skechers product as well as register round-ups at Skechers stores, the Company’s donations have funded years of adoption, vaccination, and check presentation events for animal welfare organizations.
Launched in 2023, Skechers’ Paws for a Cause Design Scholarship now offers winning students $10,000 scholarships, mentorships with Skechers leadership, and the opportunity to have their designs produced as part of the BOBS collection. Over the past year, the Company also participated in the first-ever televised Stanley Pup and Pawlympics at LA Coliseum as well as Paws in the Park in New York’s Union Square, and teamed up with Watching New York to encourage adoptions and raise awareness for shelter pets.
The BOBS from Skechers philanthropic offering of shoes, apparel and accessories is available online, at Skechers stores, and at department and specialty locations.
About Skechers U.S.A., Inc.
Skechers (NYSE:SKX), The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok.
About BOBS® from Skechers®
BOBS from Skechers’ charitable collection of shoes, apparel and accessories have improved animals’ lives: over the past nine years, Skechers has contributed more than $12 million to help over 2.2 million shelter pets, including saving more than 1.7 million rescued animals in the United States, Canada, United Kingdom and Japan. It all started in 2011, when Skechers launched a movement to support children impacted by natural disasters and poverty—a cause that has helped the Company donate more than 16 million new pairs of shoes to kids in more than 60 countries worldwide. To learn more about BOBS from Skechers’ commitment to making a difference, visit BOBSfromSkechers.com and follow the brand on Facebook and Instagram.
About Petco Love
Petco Love is a life-changing nonprofit organization that makes communities and pet families closer, stronger, and healthier. Since our founding in 1999 as the Petco Foundation, we’ve empowered animal welfare organizations by investing nearly $400 million in adoption and other lifesaving efforts. We’ve helped find loving homes for more than 6.8 million pets in partnership with Petco and organizations nationwide. Our love for pets drives us to lead with innovation, creating tools animal lovers need to reunite lost pets, and lead with passion, inspiring and mobilizing communities and our more than 4,000 animal welfare partners to drive lifesaving change alongside us. Is love calling you? Join us. Visit PetcoLove.org or follow us on Facebook, Instagram, X, Threads, and LinkedIn to be part of the lifesaving work we lead every day.
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “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 disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business 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.
Jennifer Clay
SKECHERS U.S.A., Inc.
[email protected]
(310) 937-1326
Source: Skechers