by Zach | Feb 26, 2025 | Press Release
Feb 26, 2025 • 3:00 am EST
Danish National Team and Brighton & Hove Albion F.C. Superstar Competing in Skechers Football Boots
COPENHAGEN, Denmark–(BUSINESS WIRE)–
Skechers brings more strength to the pitch by adding the first Danish footballer to its team with Matt O’Riley—creative all-round midfielder for the Danish National Team and Premier League team Brighton & Hove Albion. Known for his technical ability and vision, O’Riley is already competing in the Skechers Razor 1.5 Elite—the lightweight speed boot for players who want amazing fit, feel, and touch on the pitch. He will also appear as the face of Skechers Football in multiplatform marketing campaigns in Denmark.
Brighton & Hove Albion midfielder Matt O’Riley signs with Skechers and now competes in Skechers Razor 1.5 Elite FG boots (Photo: Business Wire)
Brighton & Hove Albion midfielder Matt O’Riley signs with Skechers and now competes in Skechers Razor 1.5 Elite FG boots (Photo: Business Wire)
“While adjusting to my new challenge of the Premier League at the start of this season, I discovered that Skechers has the most comfortable and high-performance boots with the stability I need for my game,” said Matt O’Riley. “I’m really excited to showcase Skechers Football to fans in Denmark while representing the brand on the pitch in all my matches—for Brighton and the Danish National Team.”
“As an exciting young player, Matt O’Riley already has a significant track record at the top level, both on the National Team and in the Premier League. With a bright future ahead, it’s the perfect time to officially bring him onto Team Skechers as our first elite football player in Denmark,” added Peter Jørgensen, Country Manager of Skechers Nordic. “We believe he fully aligns with the brand’s profile and will help players across Denmark discover Skechers Football and the signature Comfort That Performs offered by our boots.”
Matt O’Riley began his football career at Fulham’s academy at the age of eight and made his first-team debut with Fulham in 2017. He joined Milton Keynes Dons in January 2021, where he impressed and was named EFL’s Young Player of the Month in November 2021. In January 2022, he moved to Celtic, playing a key role in multiple league titles with his performance attracting interest from Premier League teams where he signed a five-year contract with Brighton & Hove Albion in August 2024. Internationally, O’Riley has represented both England and Denmark at the youth level and made his senior debut for Denmark in November 2023.
The Skechers Football range spans three Elite styles for men and women including the new Electrum Pack. The Skechers Razor is a lightweight speed boot with an explosive track-inspired design to maximize acceleration and energy return. It features a carbon-infused soleplate for responsive power and agility during play. The SKX_01 is ideal for striking the ball with a custom last meticulously crafted to optimize comfort and deliver a perfect fit for enhancing touch on the field. Both boots are available in standard low-profile with the SKX_01 also available in a high-top version.
In addition to the Elite styles, Skechers also offers a line of Academy boots perfect for all levels of play with maximized performance and comfort, as well as Youth and Kids boots for the next generation of players who want to emulate their favourite stars, featuring an adaptable fit and enhanced comfort in every pair. Both ranges are available in firm ground and turf styles.
Skechers Football launched at the start of the 2023/24 season when the brand signed Bayern Munich striker Harry Kane as the first pro to compete in the boot. Skechers has since expanded its roster with several elite athletes including winger Baris Alper Yilmaz from the Turkey National Team, West Ham United and Ghana National Team winger Mohammed Kudus, Real Betis midfielder Isco Alarcón, Nottingham Forest and Swedish National Team forward Anthony Elanga, Arsenal and Ukrainian National Team defender Oleksandr Zinchenko, as well as additional men’s and women’s professional athletes globally.
Beyond football, the Skechers team of elite athletes competing in the brand’s performance footwear includes basketball stars Joel Embiid, Julius Randle, Terance Mann, Norman Powell, Jabari Walker and Rickea Jackson; golfers Matt Fitzpatrick and Brooke Henderson; pickleball pros Tyson McGuffin and Catherine Parenteau; and Major League Baseball players Clayton Kershaw and Aaron Nola, among others.
The Skechers Football collection is available at Skechers websites, selected Skechers retail stores, as well as specialty football retailers worldwide, including Unisport. Football fans can get behind-the-scenes access to Skechers Football product launches and more by following @skechersfootball on Instagram and TikTok.
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:
Hanne Sørensen
Phone: +45 40379563
Mail: [email protected]
Source: SKECHERS U.S.A., Inc.
by Zach | Feb 25, 2025 | Press Release
Feb 25, 2025 • 9:00 am EST
LOS ANGELES–(BUSINESS WIRE)–
Skechers USA, Inc. (“Skechers” or the “Company”) (NYSE: SKX), The Comfort Technology Company™ and a global footwear leader, today announced that John Vandemore, Chief Financial Officer, will participate in a fireside chat at the Raymond James Institutional Investor Conference in Orlando, FL on Tuesday, March 4, 2025, at 4:30 a.m. PT / 7:30 a.m. ET.
The audio portion of the fireside chat will be available live and on replay for 90 days on the Company’s website at investors.skechers.com.
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 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.
Investor Relations
Sonia Reback
Eunice Han
[email protected]
Press
Jennifer Clay
[email protected]
Source: Skechers USA, Inc.
by Zach | Feb 20, 2025 | Press Release
Feb 20, 2025 • 3:00 am EST
Spanish League Superstar Competing in Skechers Football Boots
MADRID–(BUSINESS WIRE)–
Skechers Football brings champion strength to the pitch in Spain with the signing of Isco Alarcón, the celebrated midfielder from Real Betis Balompié. Well known for his ball skills, Alarcón is already competing in the Skechers Razor 1.5 Elite—the lightweight speed boot for players who want amazing fit, feel, and touch on the pitch. Alarcón will appear in marketing campaigns supporting Skechers Football.
Real Betis Balompié midfielder Isco Alarcón signs with Skechers and now competes in Skechers Razor 1.5 Elite boots. (Photo: Business Wire)
Real Betis Balompié midfielder Isco Alarcón signs with Skechers and now competes in Skechers Razor 1.5 Elite boots. (Photo: Business Wire)
“Football and life are played better when you feel comfortable at every step,” said Isco. “I’m very excited to be part of the Skechers family in this next chapter in my career.”
“Isco Alarcón is a great football player with a significant track record at the national level. He’s returning from an injury to his elite-level play, which is the perfect time to officially bring him onto Team Skechers,” added Txerra Díaz, Country Manager of Skechers Iberia. “We believe he fully aligns with the brand’s profile and will help players across Spain and Portugal discover Skechers Football and the signature Comfort That Performs offered by our boots.”
Francisco Román Alarcón Suárez (Benalmádena, Málaga, April 21, 1992) is a world-renowned attacking midfielder, thanks to his outstanding performances in the Spanish League and various international competitions. He has played for Valencia CF, Málaga CF and Real Madrid, with whom he won five UEFA Champions League titles, before joining Real Betis Balompié. His exquisite technique, tactical intelligence and ability to make a difference on the field have established him as one of the great midfielders of his generation.
Alarcon adds his superstar power to the roster of talented athletes currently competing in Skechers Football boots in Spain, including Iker Losada from the Celta, Antonio Sánchez from Real Mallorca, and Pere Milla from Espanyol, among others.
The Skechers Football range spans three Elite styles for men and women including the new Electrum Pack. The Skechers Razor is a lightweight speed boot with an explosive track-inspired design to maximize acceleration and energy return. It features a carbon-infused soleplate for responsive power and agility during play. The SKX_01 is ideal for striking the ball with a custom last meticulously crafted to optimize comfort and deliver a perfect fit for enhancing touch on the field. Both boots are available in standard low-profile with the SKX_01 also available in a high-top version.
In addition to the Elite styles, Skechers also offers a line of Academy boots perfect for all levels of play with maximized performance and comfort, as well as Youth and Kids boots for the next generation of players who want to emulate their favorite stars, featuring an adaptable fit and enhanced comfort in every pair. Both ranges are available in firm ground and turf styles.
Skechers Football launched at the start of the 2023/24 season when the brand signed Bayern Munich striker Harry Kane as the first pro to compete in the boot. Skechers has since expanded its roster with several elite athletes including winger Baris Alper Yilmaz from the Turkey National Team, West Ham United and Ghana National Team winger Mohammed Kudus, Arsenal and Ukrainian National Team defender Oleksandr Zinchenko, Nottingham Forest and Swedish National Team forward Anthony Elanga, as well as additional men’s and women’s professional athletes globally.
Beyond football, the Skechers team of elite athletes competing in the brand’s performance footwear includes basketball stars Joel Embiid, Julius Randle, Terance Mann, Josh Green, and Rickea Jackson; golfers Matt Fitzpatrick and Brooke Henderson; pickleball pros Tyson McGuffin and Catherine Parenteau; and Major League Baseball players Clayton Kershaw and Aaron Nola, among others.
The Skechers Football collection is available at Skechers websites, select Skechers retail stores, as well as specialty football retailers worldwide such as Fútbol Emotion in Spain. Football fans can get behind-the-scenes access to Skechers Football product launches and more by following @skechersfootball on Instagram and TikTok.
About Skechers USA Iberia, S.L. and SKECHERS U.S.A., Inc.
Skechers USA Iberia, S.L. 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, Instagram, X, and YouTube.
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, the 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:
NOHO COMUNICACIÓN
Beatriz Lombana
([email protected])
91 534 30 90
Source: Skechers USA Iberia, S.L.
by Zach | Feb 13, 2025 | Press Release
Feb 13, 2025 • 12:00 pm EST
LOS ANGELES–(BUSINESS WIRE)–
Seeking Comfort That Performs® on the court, Los Angeles Clippers shooting guard Norman Powell is now exclusively playing in Skechers Basketball footwear after signing with the performance brand. Powell is set to compete in the 3-point contest during NBA All-Star Weekend on Saturday, February 15.
Norman Powell is ready to grind it out on the court in SKX Nexus sneakers from Skechers Basketball. (Photo: Business Wire)
Norman Powell is ready to grind it out on the court in SKX Nexus sneakers from Skechers Basketball. (Photo: Business Wire)
“I’ve been seeing more players competing in Skechers, so I wanted to try them for myself. It was immediately clear that Skechers is a perfect fit for me,” said Norman Powell, who plays in the SKX NEXUS™. “It starts with that famous Skechers comfort, but these sneakers look great, and I love wearing them on the court. While everything about Skechers Basketball is unexpected, they understand the grind and are relentless in their pursuit of performance excellence, so I can’t wait to take it up a notch with this brand.”
“As a Los Angeles-based company, we saw a great opportunity in bringing Clippers athlete Norman Powell to Team Skechers,” said Michael Greenberg, president of Skechers. “Known as a standout player in the league, Norman’s incredible performance on the court this season has fans watching his every move—and we love that he’s doing it in Skechers Basketball shoes. He is a great asset to our brand and illustrates how the signature comfort and performance offered by our footwear can help players elevate their game.”
Norman Powell played college ball for UCLA, where, in his senior year, he was selected to the First-team All-Pac-12. Powell was picked in the second round of the 2015 NBA draft and started his pro career with the Toronto Raptors. His five-and-a-half seasons in Toronto included an NBA Championship win in 2019. In March 2021, he was traded to the Portland Trail Blazers where he remained for less than a year before another trade brought him to the Los Angeles Clippers in February 2022. Powell has been to the NBA playoffs in all but one season of his 10-year NBA career.
Perfect for players who desire a fast and responsive court-feel, the SKX NEXUS™ worn by Powell is a low-top court shoe designed for speed, stability and support. Offering exceptional comfort with resilient Skechers Move Foam™, every pair features a breathable mesh upper, lockdown ankle support in the heel, and Goodyear® rubber with a torsion-plate to amplify traction for quick cuts on the court. The style joins an innovative Skechers Basketball collection that includes the lightweight SKX Resagrip™ with advanced cushioning, the SKX Float™ for exceptional stability and control, and the SKX Reign™ that promotes elevation and intense traction.
Skechers also recently signed shooting guard Josh Green of the Charlotte Hornets. The brand’s roster includes basketball stars Joel Embiid, Julius Randle, Terance Mann, Jabari Walker, and Rickea Jackson. Additional elite athletes around the world competing in Skechers Performance footwear includes golfers Matt Fitzpatrick and Brooke Henderson; soccer players Harry Kane, Baris Alper Yilmaz and Mohammed Kudus; pickleball pros Tyson McGuffin and Catherine Parenteau; and baseball players Clayton Kershaw and Aaron Nola, among others.
Skechers Basketball footwear is available at skechersbasketball.com and select Skechers retail stores. Basketball fans can get behind-the-scenes access to Skechers Basketball product launches and more by following @skechersbasketball on Instagram and TikTok.
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 The Goodyear Tire & Rubber Company
Goodyear is one of the world’s largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.
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 | 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.