by | Nov 5, 2013 | Press Release
Nov 5, 2013 • 8:55 am EST
Award-Winning Athletic Footwear Brand Expands Partnership with Champion Distance Runner
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) announces a new, multi-year agreement with famed distance runner, Meb Keflezighi, under the Skechers Performance Division. Meb will continue as the official brand ambassador for the GOrun line of athletic footwear through 2016.
Elite marathoner Meb Keflezighi in Skechers Performance footwear. (Photo: Business Wire)
The ongoing partnership is a testament to Skechers Performance Division’s commitment to the category and dedicated focus on developing innovative technical shoes in the GOrun platform specifically for runners—ranging from serious elite runners to weekend warriors.
“Our relationship with Meb has been instrumental in elevating Skechers Performance and GOrun into the award-winning line that it is today,” said Michael Greenberg, SKECHERS President. “Meb’s hands-on approach, tireless commitment and genuine love of the brand and products have further solidified our partnership, and we are looking forward to future successes, both for SKECHERS and Meb, in the years to come.”
Originally signed in 2011, Meb’s role has evolved from appearing in media campaigns and racing in Skechers Performance footwear (in which he has won multiple accolades including the Houston Trials in 2012 and the first American finisher in London) to a deeper integration with the brand in the design and development process.
Rick Higgins, Vice President of Merchandising/Marketing for Skechers Performance Division said: “We really have enjoyed working with Meb—he’s aided us tremendously with our specialty running accounts, and we are excited to launch a new product line, Skechers GO MEB, for our segmented distribution.” Meb’s namesake line will serve as the elite running platform and consists of the GO MEB Speed 2, Meb’s official racing shoe, and the GO MEB Strada, Skechers Performance Divisions’ first 8mm neutral running shoe. The line will be targeted for specialty accounts and priced from $90-$140.
Additionally, Meb will continue to appear in media with an expanded global marketing campaign for print, broadcast and digital. He will also continue working hand-in-hand with the Skechers Performance Division in testing and developing new products in the Skechers GOrun category.
“I’m grateful for Skechers’ unconditional support during the last few years, and I am so excited to be working with the Performance Division for three more years,” said Meb. “If it wasn’t for the support and Skechers GOrun midfoot technology, I may not have won the 2012 Olympic Trials, finished 4th in the 2012 Olympics Games and run two personal bests in the marathon. I run to get the best out of myself and to inspire others to do the same. I am thankful to Skechers for giving me the support I need to do what I love.”
Skechers Performance products are available in sporting goods, department, specialty athletic stores, and SKECHERS stores around the world. Learn more at skechersperformance.com and follow us on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
ABOUT MEB
On November 1, 2009, during the 40th running of the New York City Marathon, Mebrahtom Keflezighi (pronounced Kef-lez-ghee), better known as just Meb, secured a place in history by becoming the first American since Alberto Salazar in 1982 to win the largest marathon in the world. His journey to the pinnacle of distance running has been called one of the best illustrations of the American Dream. A graduate of UCLA, Meb won four NCAA titles in one year and earned his B.A. in communication studies with a specialization in business. Meb is an Olympic silver medalist (Athens 2004) and a three-time national champion in cross-country running (2001, 2002, and 2009). He is the author of “Run To Overcome,” about his journey from humble beginnings in Eritrea to winning the New York City Marathon and is also the founder of the MEB Foundation (Maintaining Excellent Balance) to promote health, education and fitness. He lives in California, with his wife and their three daughters. For more information visit www.MarathonMeb.com and follow him on Facebook (facebook.com/MarathonMeb) and Twitter at twitter.com/RunMeb).
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 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.
Jolene Abbott, 310-318-3100 x4839
[email protected]
by | Oct 29, 2013 | Press Release
Oct 29, 2013 • 3:42 pm EDT
Jimmy Kimmel, Brooke Burke-Charvet, Tommy Lasorda and Nickelodeon Turn Out to Raise Awareness at Record-Breaking Event
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The SKECHERS Foundation today announced that it raised a record $1 million for children with special needs and education through the 2013 SKECHERS Pier to Pier Friendship Walk. With presenting sponsor Nickelodeon and celebrities Jimmy Kimmel, Brooke Burke-Charvet and Tommy Lasorda leading the charge this past Sunday, the fifth annual SKECHERS Pier to Pier Friendship Walk also saw a record 10,000-plus walkers, making it the largest event of its kind for these causes in Southern California.
Tommy Lasorda, Michael Greenberg, Brooke Burke-Charvet and Jimmy Kimmel attend the SKECHERS Pier to Pier Friendship Walk (Photo: Business Wire)
“It’s amazing for me to see so many people rally together, lending a hand and helping one another for something that’s so important – the educational systems and children with special needs,” said Brooke Burke-Charvet, who attended her fourth year of the walk with husband David Charvet and their four children. “I’ve been a member of the SKECHERS family for nearly twenty years. It’s an honor to be here, and I’m so proud to participate in this event.”
“Every October since 2009, we’ve brought a growing community of caring people and an amazing network of local and national sponsors together to raise much needed funds and positively impact children with special needs as well as students in our schools,” began SKECHERS president Michael Greenberg. “We started this event with the idea that if everyone does a little, we all benefit a lot, and in the weeks leading up to the Walk, thousands of people did much more than a little. And on Sunday, I saw giving in action. I saw schools rally together. I saw extended families, celebrities, and friends walking together. I saw our community and globally-recognized companies giving for our kids. Steel Partners Foundation joined us in a donation totaling $73,000 on Sunday to help us reach our million-dollar goal. The generosity of all made this possible.”
Greenberg added: “Through this extensive support, we’ve been able to transform the lives of those involved in The Friendship Circle, nurturing the abilities and talents of the children with special needs and creating strong friendships with the many teen volunteers. And we have been able to save programs and provide supplies to our schools. The SKECHERS Pier to Pier Friendship Walk has truly become more than an annual event. It has become a way to truly make a difference, a way for many to make a positive change. And I couldn’t be more proud.”
The SKECHERS Pier to Pier Friendship Walk brought numerous celebrities moved by the cause: Brooke Burke-Charvet, Dancing with the Stars co-host, mother and long-time friend to SKECHERS; Jimmy Kimmel, late-night talk show host and friend to The Friendship Circle; legendary Hall of Fame baseball manager Tommy Lasorda, a member of the Pier to Pier Walk’s Board of Directors who has appeared at the walk every year since its inception; and actress, singer and Nickelodeon star Ashley Argota, who closed the opening ceremony celebration with a stellar performance of the national anthem.
The SKECHERS Pier to Pier Friendship Walk is now Southern California’s largest event supporting children with special needs and education. Since its start, the walk has raised nearly $3 million to support The Friendship Circle, as well as help save teachers’ jobs, retain vital educational programs, maintain smaller class sizes, improve libraries and upgrade school technology.
In addition to presenting sponsor Nickelodeon, the SKECHERS Pier to Pier Friendship Walk thanks sponsors that include: Steel Partners Foundation, Wells Fargo, Zappos.com, Ross, Rack Room, DSW, United Legwear, Marshalls, Toyota, WSS, Journeys, Chevron, Premiere Displays & Exhibits, Body Glove, Dealer.com, DirecTV, Equinox, Union Bank, Michael Stars, Microsoft, Viva International Group, Northrop Grumman, Honda, Fresh Brothers, Shade Hotel, Murad, Finish Line, Fair Fashion Media, Foot Locker, OK! Magazine and many others who have provided funds and support to provide a better future for children. For more information about SKECHERS Pier to Pier Friendship Walk, please visit www.skechersfriendshipwalk.com, or www.facebook.com/SKECHERSFriendshipWalk.
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 The Friendship Circle
The Friendship Circle is a non-profit organization that assists children with special needs and their families through one-on-one peer mentoring and social recreational programming (www.gotfriends.com).
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 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 financial results and operations, its development of new products, future demand for its products and growth opportunities, and its planned advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include 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, 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.
Stacey Kammerzell
310.318.3100
by | Oct 23, 2013 | Press Release
Oct 23, 2013 • 4:00 pm EDT
• Net Sales of $515.8 Million
• Net Earnings of $26.8 Million
• Diluted Earnings Per Share of $0.53
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the quarter ended September 30, 2013.
Third quarter 2013 net sales were $515.8 million compared to $429.4 million for the third quarter of 2012. Gross profit for the third quarter of 2013 was $230.5 million or 44.7 percent of net sales compared to $187.8 million or 43.7 percent of net sales for the third quarter of last year. Earnings from operations for the third quarter of 2013 were $44.0 million versus earnings from operations of $20.3 million in the third quarter of 2012. Due to increased domestic profitability, the Company revised its estimated effective tax rate for 2013 to 32 percent from 30 percent. As a result, the tax rate for the third quarter of 2013 was 33.2 percent. Also, earnings from operations included additional professional fees related to the re-audit of its 2011 and 2012 consolidated financial statements of approximately $900,000 and $1.7 million during the three and nine months ended September 30, 2013, respectively.
“The momentum we experienced in the first half of the year continued through the third quarter as we saw revenue growth of 20 percent, making our quarterly net sales the second highest in the company’s history,” began David Weinberg, chief operating officer and chief financial officer. “This growth was the result of strong product demand across our men’s, women’s and kids collections, which drove double-digit increases in net sales in our domestic wholesale and domestic and international company-owned retail businesses, as well as single-digit improvements in our international wholesale business. The 16.9 percent comp stores increase in our domestic and international company-owned stores during the quarter is further validation of the increased demand for our product.”
Net earnings for the third quarter were $26.8 million compared to net earnings of $11.0 million in the third quarter of 2012. Diluted net earnings per share for the third quarter were $0.53 on 50,604,000 weighted average shares outstanding, compared to diluted net earnings per share of $0.22 on 49,923,000 weighted average shares outstanding for the third quarter of 2012.
For the nine months ended September 30, 2013, net sales were $1.396 billion compared to net sales of $1.165 billion in the first nine months of 2012. Gross profit for the first nine months of 2013 was $618.1 million or 44.3 percent of net sales, compared to $514.9 million or 44.2 percent of net sales for the first nine months of 2012. Earnings from operations for the first nine months of 2013 were $76.5 million, compared to earnings from operations of $14.4 million in the first nine months of 2012.
Net earnings for first nine months of 2013 were $40.6 million compared to net earnings of $5.6 million in the same period last year. Diluted net earnings per share in the first nine months of 2013 was $0.80 per share on 50,532,000 weighted average shares, compared to net earnings per share of $0.11 on 49,834,000 weighted average shares for the same period last year.
Robert Greenberg, SKECHERS chief executive officer, commented: “Through constant product innovation, development and execution backed by effective marketing, the last three months, as well as the first half of the year, have been exceptional for Skechers. The strong demand for our product is reflected in both our sales and incoming order rates. This demand is driven by multiple product categories – from our award-winning Skechers GO platform to the Relaxed Fit from Skechers collections for men and women, to our lighted and non-lighted kids offering – both in the United States as well as many key markets around the world. To create increased brand awareness, we continue to support our many successful product initiatives with a multi-platform marketing approach with television commercials as the cornerstone, and print, outdoor, events, digital, in-store, and social media as integral mediums. During back-to-school, we aired a number of campaigns, including television commercials with Brooke Burke-Charvet and Joe Montana, both of which we will also air for the Holiday season. We are continuing to build on this momentum with the development of more new product, including the evolution of our Skechers GO footwear and the expansion of our Skechers Sport and Sport Active collections, and we believe that our continued strong product and marketing support will result in further growth opportunities in 2014.”
Mr. Weinberg added, “We believe the product success and financial performance we have experienced in the first nine months of 2013 will continue in the fourth quarter, as well as into 2014. Our domestic and international combined backlogs are up 19.7 percent from the prior year period, and our third quarter was one of our strongest third quarters for incoming orders, with October also shaping up to be one of our strongest Octobers for incoming orders. Our cash balance of $333 million, in-line inventory levels, and significantly improved profitability are all indicators of our commitment to efficiently grow our business. While we are very pleased with our position in the global footwear market, we believe the strong demand for our many product categories will continue into the foreseeable future.”
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 financial results and operations, its development of new products, future demand for its products and growth opportunities, and its planned advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include 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, 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 U.S.A., INC. AND SUBSIDIARIES
|
| CONDENSED CONSOLIDATED BALANCE SHEETS |
| (Unaudited) |
| (In thousands) |
|
|
|
|
|
|
|
|
|
September 30,
2013
|
|
|
|
December 31,
2012
|
| ASSETS |
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
332,813 |
|
|
|
$ |
325,826 |
| Trade accounts receivable, net |
|
|
268,729 |
|
|
|
|
213,697 |
| Other receivables |
|
|
7,005 |
|
|
|
|
7,491 |
| Total receivables |
|
|
275,734 |
|
|
|
|
221,188 |
| Inventories |
|
|
309,940 |
|
|
|
|
339,012 |
| Prepaid expenses and other current assets |
|
|
23,729 |
|
|
|
|
27,755 |
| Deferred tax assets |
|
|
26,532 |
|
|
|
|
26,531 |
| Total current assets |
|
|
968,748 |
|
|
|
|
940,312 |
| Property, plant and equipment, at cost, less accumulated depreciation and amortization |
|
|
362,050
|
|
|
|
|
362,446
|
| Goodwill and other intangible assets, less applicable amortization |
|
|
2,524 |
|
|
|
|
3,242 |
| Deferred tax assets |
|
|
4,345 |
|
|
|
|
16,387 |
| Other assets, at cost |
|
|
20,156 |
|
|
|
|
17,833 |
| Total non-current assets |
|
|
389,075 |
|
|
|
|
399,908 |
| TOTAL ASSETS |
|
$
|
1,357,823
|
|
|
|
$
|
1,340,220
|
| LIABILITIES AND EQUITY |
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
| Current installments of long-term borrowings |
|
$ |
11,935 |
|
|
|
$ |
11,668 |
| Short-term borrowings |
|
|
111 |
|
|
|
|
2,425 |
| Accounts payable |
|
|
226,662 |
|
|
|
|
241,525 |
| Accrued expenses |
|
|
34,090 |
|
|
|
|
36,923 |
| Total current liabilities |
|
|
272,798 |
|
|
|
|
292,541 |
| Long-term borrowings, excluding current installments |
|
|
119,531 |
|
|
|
|
128,517 |
| Other long-term liabilities |
|
|
414 |
|
|
|
|
73 |
| Total non-current liabilities |
|
|
119,945 |
|
|
|
|
128,590 |
| Total liabilities |
|
|
392,743 |
|
|
|
|
421,131 |
| Stockholders’ equity: |
|
|
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
|
916,771 |
|
|
|
|
875,969 |
| Noncontrolling interests |
|
|
48,309 |
|
|
|
|
43,120 |
| Total equity |
|
|
965,080 |
|
|
|
|
919,089 |
| TOTAL LIABILITIES AND EQUITY |
|
$
|
1,357,823
|
|
|
|
$
|
1,340,220
|
|
|
|
|
|
|
|
|
|
| |
| SKECHERS U.S.A., INC. AND SUBSIDIARIES |
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
| (Unaudited) |
| (In thousands, except per share data) |
| |
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
|
2013
|
|
|
2012
|
|
|
2013
|
|
|
2012
|
| Net sales |
|
$ |
515,756 |
|
|
$ |
429,429 |
|
|
|
$ |
1,395,624 |
|
|
$ |
1,164,704 |
|
| Cost of sales |
|
|
285,235 |
|
|
|
241,605 |
|
|
|
|
777,477 |
|
|
|
649,842 |
|
| Gross profit |
|
|
230,521 |
|
|
|
187,824 |
|
|
|
|
618,147 |
|
|
|
514,862 |
|
| Royalty income, net |
|
|
1,649 |
|
|
|
1,758 |
|
|
|
|
4,844 |
|
|
|
4,503 |
|
|
|
|
232,170 |
|
|
|
189,582 |
|
|
|
|
622,991 |
|
|
|
519,365 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
| Selling |
|
|
40,211 |
|
|
|
34,385 |
|
|
|
|
119,995 |
|
|
|
103,834 |
|
| General and administrative |
|
|
147,916 |
|
|
|
134,913 |
|
|
|
|
426,450 |
|
|
|
401,172 |
|
|
|
|
188,127 |
|
|
|
169,298 |
|
|
|
|
546,445 |
|
|
|
505,006 |
|
| Earnings from operations |
|
|
44,043 |
|
|
|
20,284 |
|
|
|
|
76,546 |
|
|
|
14,359 |
|
| Other income (expense): |
|
|
|
|
|
|
|
|
|
| Interest, net |
|
|
(2,813 |
) |
|
|
(3,338 |
) |
|
|
|
(8,353 |
) |
|
|
(9,315 |
) |
| Other, net |
|
|
1,162 |
|
|
|
(1,621 |
) |
|
|
|
(2,456 |
) |
|
|
(1,205 |
) |
|
|
|
(1,651 |
) |
|
|
(4,959 |
) |
|
|
|
(10,809 |
) |
|
|
(10,520 |
) |
| Earnings before income tax expense (benefit) |
|
|
42,392 |
|
|
|
15,325 |
|
|
|
|
65,737 |
|
|
|
3,839 |
|
| Income tax expense (benefit) |
|
|
14,059 |
|
|
|
3,725 |
|
|
|
|
20,970 |
|
|
|
(3,007 |
) |
| Net earnings |
|
|
28,333 |
|
|
|
11,600 |
|
|
|
|
44,767 |
|
|
|
6,846 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
|
1,484 |
|
|
|
596 |
|
|
|
|
4,144 |
|
|
|
1,290 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
|
$ |
26,849 |
|
|
$ |
11,004 |
|
|
|
$ |
40,623 |
|
|
$ |
5,556 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.53 |
|
|
$ |
0.22 |
|
|
|
$ |
0.81 |
|
|
$ |
0.11 |
|
| Diluted |
|
$ |
0.53 |
|
|
$ |
0.22 |
|
|
|
$ |
0.80 |
|
|
$ |
0.11 |
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
|
| Basic |
|
|
50,393 |
|
|
|
49,443 |
|
|
|
|
50,329 |
|
|
|
49,335 |
|
| Diluted |
|
|
50,604 |
|
|
|
49,923 |
|
|
|
|
50,532 |
|
|
|
49,834 |
|
Company Contact:
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer,
Chief Financial Officer
(310) 318-3100
or
Investor Relations:
Addo Communications, Inc.
Andrew Greenebaum
(310) 829-5400
by | Oct 17, 2013 | Press Release
Oct 17, 2013 • 10:30 am EDT
The Footwear Giant Unveils a Line of Glow in the Dark Performance Shoes in Limited Release
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– After generating buzz on the trade show circuit over the past few months, Skechers Performance Division announces today the official launch of the much-anticipated Skechers Nite Owl Footwear Collection. Available in limited release for both men and women, the Skechers Nite Owl glow in the dark technology will enhance select styles of the celebrated GOrun and GOwalk product lines, illuminating streets across the globe and offering additional visibility for wearers.
Skechers Nite Owl (Graphic: Business Wire)
With its highly effective photoluminescent technology, the cleverly named Nite Owl Collection will prove ideal for runners and walkers who hit the road in low light conditions of the early morning or at dusk. Charged with exposure to any natural or artificial light source, the shoe will produce an intense glow that can last for several hours, depending on the power and duration of light charge. This first collection launches in an eye-catching aqua and features Skechers Performance GOrun and GOwalk construction including the lightweight and durable Resalyte™ Midsole technology and breathable 4-way stretch mesh for comfort and toe splay. When asked why Skechers selected aqua as its first signature color for the Nite Owl Collection, Skechers Performance Division Vice President of Merchandising/Marketing Rick Higgins said simply, “We chose to launch with aqua blue for several reasons. It’s not a typical color people expect to see glowing and blue also happens to be our corporate color, so it made sense for the initial debut.” To say nothing of the fact that it looks cool.
The pigments used in Nite Owls’ advanced glow technology are incorporated directly into the raw materials used to produce the footwear, so the photoluminescence won’t peel, fade or rub off with use. It is physically bonded into the product using materials that are designed to endure what dedicated runners will do to them—lasting as long as the shoes themselves.
“Since launching in 2011, the Skechers Performance Division has continued to introduce new innovations and develop cutting-edge technology for consumers. Nite Owl is a key addition to the GO platform and we feel it will be a strong contributor to the ongoing success of the Skechers Performance Division,” says SKECHERS President, Michael Greenberg.
The exclusive Skechers Nite Owl footwear collection for men and women is available in limited release in SKECHERS retail stores, select retailers nationwide and online. To learn more about Skechers Nite Owl and the GO product lines visit www.SkechersPerformance.com and follow us on Facebook (facebook.com/SkechersPerformance) and Twitter (twitter.com/skechersGO).
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 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.
Jolene Abbott
310.318.3100 x4839
[email protected]
by | Oct 17, 2013 | Press Release
Oct 17, 2013 • 9:00 am EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in lifestyle footwear, announced today that the Company’s conference call to review its fiscal 2013 third quarter financial results will be broadcast live over the internet on Wednesday, October 23, 2013, 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 23, 2013, at 7:30 p.m. ET, through November 6, 2013, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 10000535.
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 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).
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 10, 2013 | Press Release
Oct 10, 2013 • 6:29 pm EDT
Celebrities turn out to help raise one million dollars for children with special needs and education at fifth annual charity walk on October 27
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Jimmy Kimmel, host of ABC’s popular late night Jimmy Kimmel Live!, will bring his famous wit to the stage of the 2013 SKECHERS Pier to Pier Friendship Walk to help raise one million dollars and awareness for children with special needs and education. Also returning to the annual charity event are Dancing with the Stars co-host Brooke Burke-Charvet and legendary Hall of Fame baseball manager Tommy Lasorda, plus Real Housewives of New Jersey star Jacqueline Laurita who will be appearing for the first time. The all-star lineup will join Kimmel at an opening ceremony to kick off the walk on October 27.
“I am honored to help raise funds and awareness for children with special needs,” said Jimmy Kimmel, who has a family member with Autism. “This is a fun event for a very worthy cause and I hope to say hello to everyone who participates.”
“I’m thrilled to be back again for this fantastic walk,” said Brooke Burke-Charvet. “It’s a moving experience to see so many families come together to help improve the schools, and to see the joy on the faces of all the children, who understand that their involvement is making a difference.”
“Raising $1.9 million and reaching 60,000 children in only four years feels like an amazing achievement,” added Michael Greenberg, president of SKECHERS. “The Skechers Pier to Pier Friendship Walk began as a local event and now it’s the largest in Southern California for supporting children with special needs and education. This year, we set our goal higher than ever, and with the help of Jimmy and our roster of celebrity ambassadors, we plan to raise one million dollars in 2013.”
Since its inception, the walk has raised funds 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 (www.gotfriends.com) – an organization that assists children with special needs and their families through one-on-one peer mentoring and social recreational programming.
“I’ve been involved with this event since the first walk in 2009 and truly love it,” added Tommy Lasorda. “Every year is bigger than the last, so it’s amazing to come back each time to see the real impact it makes on kids and their families.”
SKECHERS anticipates their biggest event to date with over 10,000 people expected to show their support by walking 3.4 miles from the Manhattan Beach Pier to the Hermosa Pier and back. The opening ceremony begins at 9AM at the Manhattan Beach Pier. To learn more or register, visit www.skechersfriendshipwalk.com.
In addition to headlining sponsor Nickelodeon, the SKECHERS Pier to Pier Friendship Walk thanks sponsors that include: Zappos.com, Ross, Rack Room, DSW, United Legwear, Marshalls, Toyota, WWS, Journeys, Chevron, Premiere Displays & Exhibits, Body Glove, Dealer.com, DirecTv, Equinox, Union Bank, Michael Stars, Microsoft, Wells Fargo, Viva International Group, Northrop Grumman, Honda, Fresh Brothers, Shade Hotel, Murad, Finish Line, Fair Fashion Media, Foot Locker, OK! Magazine, 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), 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 (www.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.
Stacey Kammerzell, 310-318-3100
