by | Oct 20, 2014 | Press Release
Oct 20, 2014 • 9:00 am EDT
Legendary Drummer and Recording Artist Turned Style Icon Set to Appear in Relaxed Fit® Footwear Campaign
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The world’s most famous drummer—Ringo Starr—will be bringing his legendary talents and style to SKECHERS where he’s set to appear in the footwear company’s global marketing campaign for SKECHERS Relaxed Fit footwear. The new multimedia campaign featuring Ringo will begin in Spring 2015.
Ringo Starr (Image courtesy of Rob Shanahan)
Ringo’s campaign will kick off with a new television spot that follows the humorous tone that has become a signature of the Relaxed Fit footwear commercials. Up until now, the series has focused on celebrities from the sports world including Joe Montana, Mark Cuban, Joe Namath, Pete Rose, as well as Mariano Rivera in ads coming early next year. The campaign starring Ringo Starr will extend across all media with the musician also appearing in print, outdoor, online and point-of-sale materials through June 2016.
“We are incredibly excited to be working with such an amazing world-renowned artist as Ringo Starr,” said Michael Greenberg, president of SKECHERS. “Ringo possesses the charm, cool charisma and instant global recognition that will elevate awareness for our popular Relaxed Fit footwear collection both in the United States and especially around the world. And his recent modeling gig with a high-end designer shows Ringo is not only a music icon, but also a style icon. As we move from the sports world to the music world with this campaign, Ringo is the perfect ambassador to illustrate how our comfortable footwear helps keep you relaxed in any situation.”
After more than a half century in the music industry, Ringo has released 17 solo albums and continues to tour the globe with his All Starr Band. Beyond his acclaim in the recording industry, this year the artist released a children’s book—Octopus’s Garden—adapted from the whimsical song he wrote 46 years ago. Ringo is also known for his philanthropy and his involvement with the anti-violence #peacerocks campaign through the David Lynch Foundation being one recent example that led to his winning at the GQ Men of the Year Awards for his humanitarian work.
Relaxed Fit from SKECHERS footwear offers fashionable appeal with a spacious design that features a roomier fit, a unique Skechers Memory Foam footbed and instant comfort. The men’s footwear line is available in SKECHERS retail stores as well as department and footwear stores worldwide.
ABOUT RINGO STARR
In January 2014, Ringo Starr’s musical legacy was celebrated when The David Lynch Foundation honored him with the ‘Lifetime of Peace & Love Award.’ The event included star-studded tributes to Ringo’s extensive catalog that was broadcast on AXS July 13, 2014. Participating artists included Joe Walsh, Ben Harper, Ben Folds, Brendan Benson, Bettye LaVette, The Head & The Heart and Jesse Elliot and Lindsey McWilliams of Ark Life, with an equally stellar backing band featuring Don Was, Benmont Tench, Peter Frampton, Steve Lukather and Kenny Arnoff.
Also in January, Ringo performed his song “Photograph” on the GRAMMYS, by him jumping on the kit during his old band mate, Paul McCartney’s performance. Ringo & Paul then performed together again the following evening, this time playing several songs for the Emmy Award-nominated taping of CBS’ “The Beatles, A Grammy Salute; The Night That Changed America,” celebrating the 50th Anniversary of their first U.S. visit and appearance on the Ed Sullivan Show.
In February, “Octopus’s Garden,” a children’s book based on Ringo’s lyrics, was published. This book arrived on the heels of December’s PHOTOGRAPH limited-edition book, a personal collection of rare and previously unseen photographs.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company’s international network of subsidiaries in Canada, Brazil, Chile, Japan, and across Europe, as well as through joint ventures in Asia and distributors around the world. For more information, please visit skechers.com, and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2013, and its Form 10-Q for the quarter ended June 30, 2014. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Jennifer Clay
310-937-1326
by | Oct 15, 2014 | Press Release
Oct 15, 2014 • 6:34 pm EDT
On Air with Ryan Seacrest co-host Ellen K will join Brooke Burke-Charvet and Tommy Lasorda to raise funds for children with special needs and education
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The SKECHERS Foundation today announced a $1 million fundraising goal for the 2014 SKECHERS Pier to Pier Friendship Walk that will take place on Sunday, October 26. Building upon last year’s record-breaking $1 million raised to support children with special needs and education, the 2014 Walk will include new celebrity hosts and an interactive social media campaign to boost fundraising efforts.
Ellen K, co-host of the globally syndicated On Air with Ryan Seacrest radio show, will join television host and actress Brooke Burke-Charvet and legendary Hall of Fame baseball manager Tommy Lasorda at the Walk’s opening ceremony celebration. “I’m proud to partner with SKECHERS to raise awareness for this important cause,” said Ellen K. “It’s inspiring to see their commitment to help children with special needs and support education here in Southern California and across the nation. Their efforts have helped thousands of kids build a stronger future and reach their full potential.”
The X-Factor Season 3 trio Sweet Suspense will also make their first appearance at the Walk to perform the national anthem.
SKECHERS has teamed up with Walk sponsor Steel Sports to launch the new #P2PSteelSports Selfie Challenge. Walkers will be encouraged to take a selfie photo at the event, upload to their Instagram, Facebook or Twitter account with the #P2PSteelSports hashtag, and for each photo posted Steel Sports will make an additional $5 donation towards the Walk. The challenge begins at 8 AM on the morning of the Walk and participants will have 24 hours to post their photos to receive a donation credit.
“The SKECHERS Pier to Pier Friendship Walk has created life-changing opportunities for thousands of kids with special needs and their families. When you see a child’s face light up from an interaction with their first friend, it truly warms your heart and reminds all of us why supporting organizations like The Friendship Circle is so important,” said SKECHERS president Michael Greenberg. “All of this would not be possible without dedicated teams of walkers and many generous sponsors, including our presenting sponsor Nickelodeon, who step up to support the Walk each year. With the addition of the #P2PSteelSports Selfie Challenge, I’m confident we will surpass $1 million and increase funding for both The Friendship Circle and the education foundations that build a better future for our children.”
Since its inception, the SKECHERS Pier to Pier Friendship Walk has raised nearly $4 million to help save teachers’ jobs, retain vital educational programs, maintain smaller class sizes, improve libraries, upgrade school technology, as well as support The Friendship Circle – an organization that assists children with special needs and their families through one-on-one peer mentoring and social recreational programming.
The opening ceremony for the 2014 SKECHERS Pier to Pier Friendship Walk begins at 9 AM at the Manhattan Beach pier. SKECHERS is anticipating more than 12,000 participants will walk the 3.4 mile route to the Hermosa Beach pier and back. To learn more or register, visit skechersfriendshipwalk.com or follow us on Facebook (facebook.com/SKECHERSFriendshipWalk) and Twitter (twitter.com/SkechersP2PWalk).
In addition to headlining sponsor Nickelodeon, the SKECHERS Pier to Pier Friendship Walk thanks its sponsors that include: Wells Fargo, Steel Sports, The Claudette and Ethan Rickett Care Foundation, Ross, Zappos.com, DIRECTV, Body Glove, Amazon Fashion, Kids Foot Locker, United Legwear, JAKKS Pacific, Marshalls, Cushman & Wakefield, Caskey & Caskey, Siltanen & Partners Advertising, Continental Development, Northrop Grumman, Equinox, Michael Stars, Chevron, and many others who have provided funds and support to provide a better future for children.
ABOUT SKECHERS Foundation
The SKECHERS Foundation was established to provide families around the world with the necessities and skills to succeed in life. In addition to organizing the SKECHERS Pier to Pier Friendship Walk, the SKECHERS Foundation funds tax-exempt, 501(c)(3) nonprofit organizations that provide education and job training, shoes, clothing, fitness and nutrition guidance to communities in need.
ABOUT SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE: SKX) (the “Company”), based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Brazil, Canada, Chile, Japan, and across Europe, as well as through joint ventures in Asia. For more information, please visit skechers.com, and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2013, and its Form 10-Q for the quarter ended June 30, 2014. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Stacey Held, 310-318-3100
by | Oct 15, 2014 | Press Release
Oct 15, 2014 • 4:00 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in lifestyle and performance footwear, today announced that it will release its third quarter fiscal 2014 financial results after market close on Wednesday, October 22, 2014. A conference call will be held the same day at 1:30 p.m. PT / 4:30 p.m. ET. Participating on the call will be David Weinberg, Chief Operating Officer and Chief Financial Officer.
The call can be accessed on the Investor Relations section of the Company’s website at www.skx.com. For those unable to participate during the live broadcast, a replay will be available beginning October 22, 2014, at 7:30 p.m. ET, through November 5, 2014, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 13592283.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE: SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name. SKECHERS footwear is available in the United States via department and specialty stores, company-owned SKECHERS retail stores and its e-commerce website, and over 100 countries and territories through the company’s global network of distributors and subsidiaries in Brazil, Canada, Chile, Japan and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com and follow us on Facebook (Facebook.com/SKECHERS) and Twitter (Twitter.com/SKECHERSUSA).
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer and Chief Financial Officer
310-318-3100
or
Investor Relations:
Addo Communications
Andrew Greenebaum
310-829-5400
[email protected]
by | Oct 9, 2014 | Press Release
Oct 9, 2014 • 7:09 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS, a multibillion-dollar company and global footwear industry leader based in Manhattan Beach, California, received the Best of Manhattan Award from the Manhattan Beach Chamber of Commerce at a special event honoring Manhattan Beach’s best business and community success stories for 2014.
Shade Hotel owner Michael Zislis presents the 2014 Best of Manhattan award to SKECHERS president Michael Greenberg. (Photo: Business Wire)
Winners across nine categories were announced at a ceremony held on October 2 at the Manhattan Beach Marriott. SKECHERS was selected for the overall Best Business award among a group of nominees that included Manhattan Beach Marriott, Manhattan Beach Toyota, MBS Media Campus, and the Simms Restaurant Group.
“SKECHERS has been lucky to call Manhattan Beach our home for 22 years. We established roots by opening the first SKECHERS retail store here in 1995 and have since grown to become a globally recognized brand and the second largest footwear company in America. It’s a privilege giving back as an active member of the Manhattan Beach community that we love so much,” said Michael Greenberg, president of SKECHERS. “Ultimately it’s the welcoming people and businesses that make this town unlike any other. We are honored to be this year’s Best of Manhattan recipient and thankful to be a part of the fabric of Manhattan Beach. Everyone at SKECHERS looks forward to continuing our leadership and involvement in this community for many years to come.”
SKECHERS has been a longtime sponsor of local Manhattan Beach events including the annual Pumpkin Races held in October and the popular Holiday Fireworks show in December. And on October 26, the Company will produce the sixth annual SKECHERS Pier to Pier Friendship Walk which has raised nearly $3 million to benefit children with special needs and education. For the 2014 walk, SKECHERS is on target to raise more than $1.2 million in funds to support The Friendship Circle and numerous education foundations. Additionally, the SKECHERS Foundation develops community and after-school programs for local students, including classes with SKECHERS shoe designers held at the Company’s corporate headquarters in Manhattan Beach.
SKECHERS also helps children on a global scale through the BOBS from SKECHERS charitable footwear collection. Since the BOBS program launched in 2011, more than nine million pairs of new shoes have been donated to kids in need across the United States and around the world.
SKECHERS offers an assortment of more than 3,000 lifestyle and performance footwear styles for men, women and kids that appeal to consumers across six continents. The Company raises awareness for its collections through celebrity endorsees that currently include: multi-platinum recording artist Demi Lovato, model and actress Kelly Brook, TV personality Brooke Burke-Charvet, country music star Danielle Bradbery, legendary quarterbacks Joe Montana and Joe Namath, as well as baseball stars Pete Rose and Mariano Rivera. In addition, Boston Marathon winner Meb Keflezighi, elite runner Kara Goucher, and pro golfer Matt Kuchar represent the Skechers Performance Division.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company’s international network of subsidiaries in Canada, Brazil, Chile, Japan, and across Europe, as well as through joint ventures in Asia and distributors around the world. For more information, please visit skechers.com, and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences includethe resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the three months ended June 30, 2013. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Jennifer Clay, 310-937-1326
by | Oct 3, 2014 | Press Release
Oct 3, 2014 • 6:05 am EDT
Limited Edition “Awareness” Shoes Debut in Conjunction with In-Store Activation to Support October Breast Cancer Awareness Month
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance Division today announced a partnership with the American Cancer Society to support the organization’s fight against breast cancer. The month-long breast cancer awareness program encompasses a limited-edition performance footwear line, retail activation, sponsorship of the American Cancer Society San Francisco Making Strides Against Breast Cancer Walk, as well as a single donation from Skechers Performance to the American Cancer Society. Skechers Performance will further support the initiatives via print, in-store and digital marketing.
Skechers Performance Division Supports American Cancer Society with Breast Cancer “Awareness” footwear line. (Photo: Business Wire)
“We’re honored to be partnering with such an incredible organization such as the American Cancer Society,” said Michael Greenberg, president, SKECHERS USA. “American Cancer Society is making great strides in the fight against breast cancer and Skechers Performance Division is proud to support the organization and to come together to further awareness of the campaign.”
The limited-edition footwear line, aptly named “Awareness,” features five top styles—GOrun 3, GOwalk 2, GOwalk 2 Flash, GOrun Sprint and GOfit. Designed in a soft heather gray and pale pink colorway, each shoe features the iconic breast cancer awareness pink ribbon and celebrates those who use sports and fitness to lead an active, healthy lifestyle. The line is available at SKECHERS retail stores, Skechers.com and at select SKECHERS retail partners throughout October.
Starting October 1 and continuing through October 31, all domestic SKECHERS retail stores will also participate in a register round-up program to offer customers the opportunity to support the American Cancer Society. During this time, customers may round up their purchase of any item(s) made in a SKECHERS retail store to the nearest whole dollar to benefit the American Cancer Society. For those who donate $5 or more, a 20% coupon for their next visit will be offered. Additionally, SKECHERS retail stores are offering a gift with purchase for customers who purchase a pair of the limited-edition Awareness shoes.
Skechers Performance Division is also a participating sponsor of the American Cancer Society San Francisco Making Strides Against Breast Cancer Walk on Saturday, October 25, 2014 at Hellman Hollow Park. One of the largest Making Strides events in the nation, Skechers Performance will have an on-site presence and contribute a percentage of proceeds from the sale of Skechers Performance shoes that day to the American Cancer Society.
The funds raised for American Cancer Society will support breast cancer research, help provide free information and services, and assist women in need to access mammograms.
“Countless loved ones continue to hear the words ‘you have breast cancer,’ but with the contributions of Skechers and their customers, we can help change the course of the disease,” said Daniela Campari, senior vice president of integrated marketing and revenue for the American Cancer Society. “Collaborations like this are critical in helping finish the fight and to maintain our life-saving work.”
To learn more about the American Cancer Society and their fight against breast cancer visit www.cancer.org or call 800.227.2345.
Learn more about Skechers Performance Division at SkechersGOrun.com and follow us on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
For more information and/or images please contact Jolene Abbott at 310.318.3100 x4839 or [email protected].
ABOUT SKECHERS USA, INC.
SKECHERS USA, Inc. (NYSE: SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name. SKECHERS footwear is available in the United States via department and specialty stores, company-owned SKECHERS retail stores and its e-commerce website, and over 100 countries and territories through the company’s global network of distributors and subsidiaries in Brazil, Canada, Chile, Japan and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com and follow us on Facebook (Facebook.com/SKECHERS) and Twitter (Twitter.com/SKECHERSUSA).
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; consumer preferences and rapid changes in technology in the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2013 and its quarterly report on Form 10-Q for the three months ended June 30, 2014. The risks included here are not exhaustive. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Jolene Abbott, 310-318-3100 x4839
[email protected]
by | Sep 25, 2014 | Press Release
Sep 25, 2014 • 8:45 am EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) released a short statement on the state of its business in response to The Buckingham Research Group (BRG) Industry Update report released on September 24, 2014, respecting the imminent close of the third quarter and the Company’s upcoming earnings announcement.
“We respect the SportScan data released every Wednesday on the footwear business, but when not looked at in its entirety or analyzed over periods of time, and understanding that some key accounts—including Amazon, Zappos, Kohl’s and Finish Line/Macy’s, are not currently reporting and are projected based on the balance of the sector, the data can be misinterpreted or skewed,” began David Weinberg, SKECHERS COO and CFO.
Mr. Weinberg continued: “As BRG reported, for the week ending September 20, 2014, SKECHERS sales were down 3 percent, but improved 19 percent for the trailing four weeks and 33 percent for the trailing 13 weeks. What BRG didn’t report is that the week ending September 30 is one of the three smallest weeks of the year, according to SportScan, who also indicated to us that their analysis of the data shows that we are continuing to take market share and that footwear retailers remain confident in our product.”
“With a deeper dive and channel checks conducted which is always recommended, the results would be more conclusive. As indicated by SportScan and our retail partners, we are continuing to take market share. We have seen only one material decrease in our kids business in one account in the South due to a significant planned decrease in the number of doors, though our business in the existing doors remains strong,” Weinberg added. “This is already the biggest booking third quarter in the history of the Company with an over 50 percent increase from third quarter of last year, and the SKECHERS retail stores continue to show positive comp store increases on top of significant retail store comp increases last year. Given channel checks, SKECHERS retail performance, our incoming order rate which leads us to an increased backlog worldwide, we remain confident that our domestic and international business is strong, that our brand continues to be in demand, and that our product and marketing resonate with consumers around the world.”
Additional reports issued on September 24, 2014 about SKECHERS market position included the following statements:
Sterne Agee
Business is healthy as evidenced by high teens ASP increase:The deceleration in the last week was largely relegated to the mid-tier department store channel, where SKX sales declined 20.5% in the last week versus +10.4% for the last 4 weeks. We do not believe there is a brand/product issue here, as shown by the 19% ASP increase within the channel. If there was a product/brand issue, department stores would be promoting the product in a very aggressive fashion. We believe that retailers likely ran out of inventory after the strong start of back to school.We remind investors that in recent quarters, SKX management has put a great emphasis on lean inventory levels and “starving the customer.” The deceleration in the mid-tier department store channel was even greater for the EPS overall footwear category, where sales declined 23% in the last week versus +2% for the last 4 weeks.
Susquehanna Financial Group, LLLP
Skechers Demand is Outstripping Supply. With the devil in the details, we noticed overall units were down -20.2% while ASPs were up +21.1% this week. We believe this signals that retailers are short inventory following a strong back-to-school season (BTS). Recall BTS (7/20-9/13) saw stronger than expected growth (+36.5%) and given the likely lack of product thereafter, this likely accentuated the historically normal fall-off in sales post-BTS that the brand usually experiences. Importantly, this is supported by our conversations with key retailers, SportScan and SKX. As a reminder, we note that SportScan only tracks ~25% of SKX global sales, in which we believe the other 75% is trending very well, particularly international. Overall, we believe the story is very much on track.
Citi Research
By category, SportScan data indicates that Skechers continued to post positive growth in the walking, work/utility, training/fitness, boots, and sandal categories, while casual athletic posted a -5% decline and dress/comfort casual was also weaker. By channel, SKX continued to post positive growth in all major channels ex-Mid-Tier Department Stores, with Family Footwear up +6%, Discount/Mass +66%, and Athletic Specialty/Sporting Goods up +15% y/y.
While Wunderlich did not issue a report, the firm’sanalyst Danielle McCoy was quoted in Investor’s Business Daily on September 24, 2014 as follows: “’We don’t think this is worrisome. I believe Skechers is still a very solid brand — one of the key winners this back-to-school season.’ McCoy said that comparing the most recent week to the trailing four weeks ‘is not comparable,’ since August is the largest back-to-school selling month.”
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company’s international network of subsidiaries in Canada, Brazil, Chile, Japan, and across Europe, as well as through joint ventures in Asia and distributors around the world. For more information, please visit www.skechers.com, and follow us on Facebook (www.facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2013, and its Form 10-Q for the quarter ended March 31, 2014. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Company Contact:
Jenn Clay, 310-318-3100
or
Investor Relations:
Andrew Greenebaum, 310-829-5400
