by | Feb 13, 2013 | Press Release
Feb 13, 2013 • 4:00 pm EST
- Fourth Quarter 2012 Net Sales Increased over 39 Percent to $395.6 Million
- Fiscal Year 2012 Net Sales of $1.560 Billion
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced financial results for the fourth quarter and fiscal year ended December 31, 2012.
Net sales for the fourth quarter of 2012 were $395.6 million compared to $283.2 million in the fourth quarter of 2011. Earnings from operations in the fourth quarter of 2012 were $8.0 million compared to a loss from operations of $103.1 million in the fourth quarter of 2011. Net earnings for the fourth quarter of 2012 were $4.0 million compared to a net loss of $57.7 million in the fourth quarter of 2011. Net earnings per diluted share in the fourth quarter of 2012 were $0.08 based on 50.3 million weighted average shares outstanding compared to net loss per diluted share of $1.18 based on 48.9 million weighted average shares outstanding in the fourth quarter of 2011. Gross profit for the fourth quarter of 2012 was $168.5 million compared to $112.6 million in the fourth quarter of 2011. Gross margin in the fourth quarter 2012 was 42.6 percent versus 39.8 percent for the fourth quarter of 2011. Income tax expense was $3.0 million or 44.7 percent for the fourth quarter of 2012.
“For the 2012 fourth quarter, sales increased more than 39 percent over the same period in 2011 as we saw improvements across all of our revenue channels, including a 72 percent increase in our domestic wholesale business,” began David Weinberg, chief operating officer and chief financial officer. “This strong domestic wholesale growth plus low double-digit positive comp store sales in our company-owned SKECHERS retail stores and a 30 percent increase in our international business are evidence of the broad acceptance of our new product offerings. With each of our new and established lines driving sales, domestically, both our men’s and kids’ divisions experienced double-digit growth, while our women’s division saw triple-digit growth.”
Fiscal year 2012 net sales were $1.560 billion compared to net sales of $1.606 billion in 2011. Earnings from operations for 2012 were $22.3 million compared to a loss from operations of $133.8 million in 2011. Net earnings for 2012 were $9.5 million compared to a net loss of $67.5 million in 2011. Net earnings per diluted share for fiscal year 2012 were $0.19 based on 49.9 million weighted average shares outstanding versus a diluted loss per share of $1.39 based on 48.5 million weighted average shares outstanding in the prior year. Gross profit for 2012 was $683.3 million compared to $623.7 million in 2011. Gross margin for 2012 was 43.8 percent versus 38.8 percent for 2011.
Robert Greenberg, SKECHERS chief executive officer, commented, “2012 was a remarkable year for SKECHERS. We grew our existing product divisions, broadened our offering to consumers with several new product lines, established an award-winning performance division and further grew our heritage business. We have taken a more focused approach to growing our product offering, added features and technologies that consumers desire, and supported these efforts with effective marketing. In the fourth quarter alone, we supported our Skechers GOwalk, Daddy’s Money and SKCH+3 product lines with new commercials, as well as commercials for our Bobs from Skechers line with Brooke Burke, and our Relaxed Fit by Skechers styles with three spots featuring sports icons Mark Cuban, Joe Montana and Tommy Lasorda. To date in this quarter, we aired a new Skechers GOrun2 commercial during the Super Bowl, as well as a new Relaxed Fit Joe Montana spot. The recent highlights for our product and marketing are many, including receiving eight awards from noted running and fitness publications for our performance footwear, and elite runner Meb achieving his personal best in Skechers GOrun, becoming the fastest American marathon runner and placing fourth at the 2012 Olympics. Our focus and execution have translated into a strong fourth quarter, and as we continue to grow our businesses around the world, we believe this positive momentum will continue and we will experience a strong first half of 2013.”
Mr. Weinberg added, “2012 marked a return to profitability with growth in all of our revenue channels in the fourth quarter. With backlogs up double digits for our combined domestic and international wholesale businesses, and a strong start to the first quarter, we are confident that our growth trend will continue in 2013. We are looking forward to our Fall/Winter 2013 domestic and international trade shows later this month, delivering fresh Spring product around the world, and opening 30 to 35 new Company-owned SKECHERS retail stores this year. With a cash position of $325.8 million and inventory levels in line with our projected growth, we believe we are well positioned for growth across all our platforms.”
ABOUT SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name, as well as under several uniquely branded names. 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 Canada, Brazil, 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 include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in SKECHERS’ Form 10-K for the year ended December 31, 2011 and its Form 10-Q for the quarter ended September 30, 2012. 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 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.
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|
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|
|
| SKECHERS U.S.A., INC. |
| CONDENSED CONSOLIDATED BALANCE SHEETS |
| (Unaudited) |
| (In thousands) |
|
|
|
|
|
|
|
December 31,
2012
|
|
December 31,
2011
|
| ASSETS |
|
|
|
|
| Current Assets: |
|
|
|
|
| Cash and cash equivalents |
|
$ |
325,826 |
|
$ |
351,144 |
| Trade accounts receivable, net |
|
|
213,697 |
|
|
176,018 |
| Other receivables |
|
|
7,491 |
|
|
6,636 |
| Total receivables |
|
|
221,188 |
|
|
182,654 |
| Inventories |
|
|
339,012 |
|
|
226,407 |
| Prepaid expenses and other current assets |
|
|
27,755 |
|
|
88,005 |
| Deferred tax assets |
|
|
26,531 |
|
|
39,141 |
| Total current assets |
|
|
940,312 |
|
|
887,351 |
| Property and equipment, at cost less accumulated depreciation and amortization |
|
|
362,446 |
|
|
376,446 |
| Intangible assets, less applicable amortization |
|
|
3,242 |
|
|
4,148 |
| Deferred tax assets |
|
|
16,387 |
|
|
530 |
| Other assets, at cost |
|
|
17,833 |
|
|
13,413 |
| Total non-current assets |
|
|
399,908 |
|
|
394,537 |
| TOTAL ASSETS |
|
$ |
1,340,220 |
|
$ |
1,281,888 |
| LIABILITIES AND EQUITY |
|
|
|
|
| Current Liabilities: |
|
|
|
|
| Current installments of long-term borrowings |
|
$ |
11,668 |
|
$ |
10,059 |
| Short-term borrowings |
|
|
2,425 |
|
|
50,413 |
| Accounts payable |
|
|
241,525 |
|
|
231,000 |
| Accrued expenses |
|
|
36,923 |
|
|
16,994 |
| Total current liabilities |
|
|
292,541 |
|
|
308,466 |
| Long-term borrowings, excluding current installments |
|
|
128,517 |
|
|
76,531 |
| Deferred tax liabilities |
|
|
73 |
|
|
4,364 |
| Total non-current liabilities |
|
|
128,590 |
|
|
80,895 |
| Total liabilities |
|
|
421,131 |
|
|
389,361 |
| Equity: |
|
|
|
|
| Skechers U.S.A., Inc. equity |
|
|
875,969 |
|
|
852,561 |
| Noncontrolling interests |
|
|
43,120 |
|
|
39,966 |
| Total equity |
|
|
919,089 |
|
|
892,527 |
| TOTAL LIABILITIES AND EQUITY |
|
$ |
1,340,220 |
|
$ |
1,281,888 |
|
|
|
|
|
|
|
|
|
|
| SKECHERS U.S.A., INC. |
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
| (Unaudited) |
| (In thousands, except per share data) |
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
|
|
|
2012 |
|
|
|
2011 |
|
|
|
2012 |
|
|
|
2011 |
|
| Net sales |
|
$ |
395,617 |
|
|
$ |
283,248 |
|
|
$ |
1,560,321 |
|
|
$ |
1,606,016 |
|
| Cost of sales |
|
|
227,153 |
|
|
|
170,635 |
|
|
|
876,995 |
|
|
|
982,268 |
|
| Gross profit |
|
|
168,464 |
|
|
|
112,613 |
|
|
|
683,326 |
|
|
|
623,748 |
|
| Royalty income |
|
|
2,601 |
|
|
|
3,128 |
|
|
|
7,104 |
|
|
|
7,558 |
|
|
|
|
171,065 |
|
|
|
115,741 |
|
|
|
690,430 |
|
|
|
631,306 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| Selling |
|
|
31,086 |
|
|
|
23,398 |
|
|
|
134,920 |
|
|
|
152,000 |
|
| General and administrative |
|
|
132,142 |
|
|
|
150,851 |
|
|
|
532,373 |
|
|
|
569,164 |
|
| Legal settlements (recoveries) |
|
|
(123 |
) |
|
|
44,581 |
|
|
|
818 |
|
|
|
43,935 |
|
|
|
|
163,105 |
|
|
|
218,830 |
|
|
|
668,111 |
|
|
|
765,099 |
|
| Income (loss) from operations |
|
|
7,960 |
|
|
|
(103,089 |
) |
|
|
22,319 |
|
|
|
(133,793 |
) |
| Other income (expense): |
|
|
|
|
|
|
|
|
| Interest, net |
|
|
(3,450 |
) |
|
|
(2,042 |
) |
|
|
(12,765 |
) |
|
|
(6,002 |
) |
| Gain (loss) on disposal of assets |
|
|
(14 |
) |
|
|
9,893 |
|
|
|
(216 |
) |
|
|
9,632 |
|
| Other, net |
|
|
2,138 |
|
|
|
(299 |
) |
|
|
1,135 |
|
|
|
(884 |
) |
|
|
|
(1,326 |
) |
|
|
7,552 |
|
|
|
(11,846 |
) |
|
|
2,746 |
|
| Earnings (loss) before income taxes |
|
|
6,634 |
|
|
|
(95,537 |
) |
|
|
10,473 |
|
|
|
(131,047 |
) |
| Income tax expense (benefit) |
|
|
2,968 |
|
|
|
(37,500 |
) |
|
|
(39 |
) |
|
|
(63,467 |
) |
| Net income (loss) |
|
|
3,666 |
|
|
|
(58,037 |
) |
|
|
10,512 |
|
|
|
(67,580 |
) |
| Less: Net income (loss) attributable to noncontrolling interest |
|
|
(290 |
) |
|
|
(376 |
) |
|
|
1,000 |
|
|
|
(96 |
) |
| Net earnings (loss) attributable to Skechers U.S.A., Inc. |
|
$ |
3,956 |
|
|
$ |
(57,661 |
) |
|
$ |
9,512 |
|
|
$ |
(67,484 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net earnings (loss) per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.08 |
|
|
$ |
(1.18 |
) |
|
$ |
0.19 |
|
|
$ |
(1.39 |
) |
| Diluted |
|
$ |
0.08 |
|
|
$ |
(1.18 |
) |
|
$ |
0.19 |
|
|
$ |
(1.39 |
) |
|
|
|
|
|
|
|
|
|
| Weighted average shares used in calculating earnings (loss) per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
|
|
|
| Basic |
|
|
49,980 |
|
|
|
48,931 |
|
|
|
49,495 |
|
|
|
48,491 |
|
| Diluted |
|
|
50,271 |
|
|
|
48,931 |
|
|
|
49,942 |
|
|
|
48,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company Contact:
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer, Chief Financial Officer
(310) 318-3100
or
Investor Relations:
Addo Communications
Andrew Greenebaum
(310) 829-5400
by | Feb 7, 2013 | Press Release
Feb 7, 2013 • 9:05 am EST
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) recognizes elite runner and Athens silver medalist Meb for being ranked #1 in the 2012 Running Times U.S. Marathoners of the Year listing. The article notes that there was little doubt as to who should top the annual list since “Meb Keflezighi was dominant in winning the Olympic trials race in Houston and then backed that up with an inspired fourth-place showing at the Olympics.”
Meb trains in Mammoth Lakes, California wearing Skechers GOrun Speed footwear. (Photo: Business Wire)
“It always feels great to be recognized for my hard work,” began Meb. “This truly amazing year stretches back to my personal best time at the 2011 New York City Marathon. From another personal best on winning the Houston Trials just 69 days later to a strong race in London, I’m feeling better and stronger even at an older age. The midfoot strike technology in my Skechers GOrun shoes has clearly helped me run more efficiently. The proof is in the performance.”
Skechers GOrun is an award-winning innovative lightweight running line featuring revolutionary technology that promotes a midfoot strike and GOimpulse sensors for a responsive experience. Meb provides the Skechers Performance Division with ongoing expert insight by testing and consulting on the design of shoes like the all-new Skechers GOrun 2, the pro-level Skechers GOrun Speed racing line, and other high-performance product currently in development.
“SKECHERS congratulates Meb and we’re honored the Skechers Performance Division has been there for each of his incredible achievements this past year,” said SKECHERS president Michael Greenberg. “After all Meb has accomplished wearing Skechers GOrun, plus the media accolades for our shoes, we’ve established the Skechers Performance brand as a serious player in this market. Now as Meb continues to inspire more and more runners around the globe, there should be no doubt that training and racing in Skechers GOrun and our entire collection of innovative Skechers Performance footwear can lead to great success in competition.”
Meb returns to competition this spring where he’ll race in his Skechers GOrun footwear at the iconic Boston Marathon on April 15.
Skechers Performance footwear for men and women is available in sporting goods, department and specialty athletic stores around the world. Learn more at skechersperformance.com and follow the Skechers Performance Division on Facebook (facebook.com/SkechersPerformance) and Twitter (twitter.com/skechersGO).
Read the Running Times article at: http://www.runnersworld.com/elite-runners/running-times-2012-marathoners-year
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 include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the three months ended September 30, 2012. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.
SKECHERS USA, Inc.
Jennifer Clay, 310-937-1326
by | Feb 6, 2013 | Press Release
Feb 6, 2013 • 4:00 pm EST
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 fourth quarter and full year fiscal 2012 financial results will be broadcast live over the internet on Wednesday, February 13, 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 February 13, 2013, at 7:30 p.m. ET, through February 27, 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: 408197.
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 (https://www.facebook.com/SKECHERS) and Twitter (https://twitter.com/SKECHERSUSA).
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer and Chief Financial Officer
310-318-3100
or
Investor Relations:
Addo Communications
Andrew Greenebaum
310-829-5400
[email protected]
by | Feb 1, 2013 | Press Release
Feb 1, 2013 • 9:00 am EST
Footwear company releases Skechers GOrun 2 ad starring the world’s fastest land animal
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Following in the footsteps of an adorable French Bulldog named Mr. Quiggly that wore Skechers GOrun footwear during last year’s Super Bowl, SKECHERS USA, Inc. (NYSE:SKX) today released the first commercial for Skechers GOrun 2 performance footwear, which will premiere on TV during SUPER BOWL XLVII. Fans can now get a sneak peek of the ad ahead of the 100-million-strong audience for Sunday’s game.
Man befriends Gazelle in the Skechers GOrun 2 Super Bowl commercial (Photo: Business Wire)
This year, a fast cat is center stage in a spot that again uses humor and animals to illustrate the speed of Skechers GOrun 2 performance running footwear. The ad is slated to air after the two-minute warning of the first half. (Watch now at http://youtube.com/skechersperformance)
A brief teaser for the Skechers GOrun 2 ad was released on YouTube last week, generating early buzz with nearly 300,000 views. And on Wednesday, Bleacher Report placed the ad at No. 2 in its “Super Bowl Commercials: 2013 Power Ranking.” SKECHERS continues to leverage the power of social media with a Facebook sweepstakes tied to the campaign that promotes both the ad and Skechers Performance product.
The 2013 Super Bowl campaign, which also includes a Joe Montana SKECHERS Relaxed Fit ad, marks SKECHERS’ fourth consecutive year of commercials on the world’s biggest advertising platform. In 2010, the Company first utilized the star power of Joe Montana to launch its fitness division, and then followed up in 2011 with Kim Kardashian in the Company’s fitness footwear. Basketball and business icon Mark Cuban joined the adorable Mr. Quiggly in 2012 for SKECHERS’ most successful Super Bowl campaign thus far—ranking third on the USA Today Ad Meter.
For more information about the Skechers Performance Division, visit skechersperformance.com and follow us on Facebook (https://www.facebook.com/SkechersPerformance) and Twitter (https://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 (https://www.facebook.com/SKECHERS) and Twitter (https://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 include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the three months ended September 30, 2012. 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 | Jan 29, 2013 | Press Release
Jan 29, 2013 • 12:05 pm EST
NFL Football Icons to Promote the Company’s Relaxed Fit Footwear Collection
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced that the Company’s second commercial airing Super Bowl weekend will feature two of the greatest 49ers players to ever grace the gridiron: Hall of Fame quarterback Joe Montana and Hall of Fame safety Ronnie Lott. Premiering Saturday, February 2 on ESPN2’s College All-Star Challenge, and again on Super Bowl Sunday with an abbreviated spot during the second quarter, the Skechers Relaxed Fit commercial uses humor to showcase how Montana stays cool under pressure wearing Relaxed Fit footwear.
Joe Montana appears in the SKECHERS Relaxed Fit commercial debuting Super Bowl weekend. (Photo: Business Wire)
Launching the day before the San Francisco 49ers take on the Baltimore Ravens in Super Bowl XLVII, the new commercial will reunite the legendary Hall of Famers on-screen in a humorous spot that highlights Relaxed Fit’s memory foam footbed, roomier fit and instant comfort.
“Relaxed Fit gives guys the perfect combination in their footwear: incredibly comfortable shoes that look great in any setting. So we thought, let’s give them what they want with football legends delivering some old-school physical comedy,” said Michael Greenberg, president of SKECHERS. “Working with two of the greatest players of all time was amazing, and the fact that their former team will be playing in the Super Bowl this weekend makes it all the sweeter.”
The new spot is the latest in a series of Relaxed Fit ads that star America’s sports icons; previous commercials have featured Montana, legendary Hall of Fame Los Angeles Dodgers Manager Tommy Lasorda, and Dallas Mavericks owner Mark Cuban. A natural extension of relaxed fit jeans, Relaxed Fit footwear has fast become one of SKECHERS’ most successful men’s footwear collections and will soon expand into women’s footwear.
SKECHERS will also debut a commercial during the second quarter of Sunday’s Super Bowl for the Company’s new performance running shoes, Skechers GOrun 2.
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 include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the three months ended September 30, 2012. 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 | Jan 23, 2013 | Press Release
Jan 23, 2013 • 9:05 am EST
Footwear company will launch Skechers GOrun 2 with humorous ad starringthe world’s fastest land animal and bring back Joe Montana for Relaxed Fit™ men’s footwear
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Following up on last year’s wildly successful Super Bowl ad starring the adorable pup Mr. Quiggly for Skechers GOrun, SKECHERS USA, Inc. (NYSE:SKX) today announced that the Company will return to the Big Game with two unique campaigns. The first will use humor and animals to illustrate the speed of Skechers GOrun 2 performance running footwear and is slated to air during the two-minute warning of the first half. SKECHERS will also enlist football legend Joe Montana for a second advertisement to air during the second quarter.
Man vs. cheetah in the Skechers GOrun 2 Super Bowl ad campaign (Photo: Business Wire)
For the Company’s performance brand, a cheetah takes center stage this year when the world’s fastest land animal goes head-to-head with a human wearing Skechers GOrun 2. Like the cheetah, Skechers GOrun 2 footwear is lightweight, sleek and fast. The Company debuted the original Skechers GOrun collection on the feet of a spunky French Bulldog during the 2012 Super Bowl, and the much adored “Mr. Quiggly” commercial achieved a third place ranking at the top of the USA Today Ad Meter, making the pooch a media darling and bringing global recognition to Skechers Performance footwear.
For the SKECHERS Relaxed Fit™ collection, Hall of Fame quarterback and four-time Super Bowl champion Joe Montana is the face of the successful footwear line that’s designed for comfort with a roomy toe area and memory foam insole. Montana previously appeared in a SKECHERS Relaxed Fit campaign during Fall 2012 that also included ads featuring basketball and baseball icons Mark Cuban and Tommy Lasorda.
The 2013 Super Bowl campaign marks SKECHERS’ fourth consecutive year of commercials on the world’s biggest advertising platform. In its first year, the Company utilized the star power of Joe Montana to launch its fitness division, and then followed up in 2011 with Kim Kardashian in the Company’s fitness footwear. Basketball and business icon Mark Cuban joined Mr. Quiggly in 2012 for SKECHERS’ most successful Super Bowl campaign thus far.
Designed by the Company’s Performance Division after extensively working with elite runners, Skechers GOrun 2 is an innovative shoe that features revolutionary midfoot strike technology and GOimpulse sensors for enhanced sensory feedback. Designed for speed, the ultra-lightweight Skechers GOrun 2 is ideal for novice to elite athletes. The Skechers Performance Division launched in 2011, with a global marketing campaign starring elite distance runner and Olympic medalist Meb. Competing in Skechers GOrun footwear, he recently achieved two back-to-back personal best marathon times during the 2011 New York City Marathon and with a first place finish at the 2012 Olympic Trials. Meb was the fastest American at the London Games, finishing fourth overall, and will compete at the prestigious Boston Marathon this spring wearing Skechers Performance footwear. For more information about the Skechers Performance Division, visit skechersperformance.com and follow us on Facebook (https://www.facebook.com/SkechersPerformance) and Twitter (https://twitter.com/skechersGO).
A natural extension of relaxed fit jeans, Relaxed Fit footwear has fast become one of SKECHERS’ most successful men’s footwear collections and will soon expand into women’s footwear.
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 (https://www.facebook.com/SKECHERS) and Twitter (https://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 include international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the three months ended September 30, 2012. 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
