SKECHERS Launches Japan Subsidiary

by | Mar 5, 2012 | Press Release

Mar 5, 2012 • 9:05 am EST

Initiatives Include New Stores, Marketing Campaigns and an Expanded Performance and Lifestyle Footwear Offering

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in the lifestyle footwear industry, today announced that the Company is transitioning its business in Japan from a third-party distributor to the new wholly owned subsidiary, SKECHERS Japan, G.K. With plans to double its business in Japan over the next three to five years, the Company will make a full-scale entry into the market starting from the 2012 Autumn/Winter collection of performance and lifestyle footwear for men, women and children.

The broader assortment, which will be supported by high-profile marketing campaigns and new SKECHERS retail stores across the country, will include the Company’s flagship performance lines SKECHERS GOrun and SKECHERS GOwalk footwear; an expanded offering of men’s and women’s lifestyle footwear; and popular kids’ collections that have established SKECHERS as America’s top kids’ lifestyle brand with character-driven lines Bella Ballerina, Twinkle Toes, Luminators and Z-Strap.

“Japan has historically been one of our biggest distribution outlets, so we have a clear sense of the potential for our brand in this country,” said Michael Greenberg, president of SKECHERS. “Our new subsidiary’s goal is simple and specific: to employ all the strategies that have made us a billion-dollar brand around the world, and to tailor them in every way that will excite, educate and build demand. We see Japan as one of the world’s most coveted markets, and look forward to realizing the impact that our direct subsidiary presence can have on Japanese consumers.”

Footwear veteran Hirokazu Iwasaki (formerly with Nike, Adidas and Puma) will head up SKECHERS Japan as the new representative director and country manager. Iwasaki’s team will directly service major accounts; the Company has also signed an agreement with Osaka-based distribution partner SSK Corporation to oversee nationwide independents.

“I’ve watched SKECHERS for a number of years in the footwear industry, and its potential has been very clear – from its bold, fashionable collections to its impressive marketing,” said Iwasaki. “I am excited to oversee this new chapter of one of America’s most popular lifestyle brands as it enters the performance industry in Japan – and to launch collections that have been embraced by the athletes and celebrities, and will soon be available for Japanese consumers.”

“Hiro has a genuine foothold in the industry – firsthand experience with global athletic brands, and a deep understanding of how to translate them to Japan’s consumers,” added Marvin Bernstein, managing partner of SKECHERS S.à.r.l. “Our brand is known for its high-profile advertising and marketing, such as airing one of this year’s most popular commercials during America’s biggest advertising platform, the Super Bowl. This is the kind of attention we intend to inject into our new business in Japan.”

With international business currently comprising 30 percent of its total sales, SKECHERS offers thousands of styles designed for every age and activity, from athletic performance footwear to sport and casual lifestyle product. The company’s global product ambassadors include TV host Brooke Burke as the face of SKECHERS’ fitness and lifestyle looks for women, and elite runner Meb Keflezighi, who won the U.S. Olympic Trials and will compete on the U.S. Olympic Marathon team in Skechers GOrun footwear.

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 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 Form 10-K for the year ended December 31, 2011. 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

SKECHERS Foundation Donates More Than $480,000 to Children with Special Needs and Education

by | Feb 28, 2012 | Press Release

Feb 28, 2012 • 9:05 am EST

The SKECHERS Pier to Pier Friendship Walk Presented by Kids Foot Locker Changes Kids’ Lives by Funding Programs, Classes and More

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The SKECHERS Foundation, an organization that was founded to provide families around the world with the necessities and skills to succeed in life, celebrated its most impactful SKECHERS Pier to Pier Friendship Walk by donating $209,000 to the Friendship Circle for children with special needs and more than $280,000 to six Southern California education foundations. The donations were the largest made by the Foundation and were the result of dozens of corporate sponsors, including presenting sponsor Kids Foot Locker, and thousands of walkers who united for the SKECHERS Friendship Walk in October 2011.

SKECHERS president Michael Greenberg presents a $209,000 donation to the Friendship Circle, a non-profit organization dedicated to making a dramatic difference in the lives of children and young adults with special needs. (Photo: Business Wire)

SKECHERS President Michael Greenberg expressed his gratitude during a formal check presentation ceremony on February 16 at SKECHERS’ corporate headquarters in Manhattan Beach: “Our sponsors have done something incredible – gathering our friends, families and neighbors so we can change the lives of our children. Because of them, our kids now have more opportunities than what would have been possible without this walk. And we’ve shown that we’re not dependent on our economy or our state’s budget to make a real impact. I’m extremely proud of what we’ve created here, and to be part of a community with such great love for our kids.”

The SKECHERS Pier to Pier Friendship Walk is now the Southern California’s largest annual donor event for children with special needs and local schools. Along with the Friendship Circle, the funds will directly benefit Manhattan Beach, Hermosa Beach, Redondo Beach, El Segundo, Palos Verdes Peninsula and Torrance schools.

The SKECHERS Pier to Pier Friendship Walk thanks its presenter Kids Foot Locker and sponsors Wells Fargo, Ross, Premier Displays and Exhibits, Body Glove, Marshalls, Chevron, Waste Management, Equinox and countless others who have provided funds and support to making a difference in children’s lives.

For more information about the SKECHERS Pier to Pier Friendship Walk and the SKECHERS Foundation, please visit http://www.skechersfriendshipwalk.com.

ABOUT SKECHERS Foundation

A SKECHERS organization, the SKECHERS Foundation funds tax-exempt, 501(c)(3) nonprofit charities that provide education and job training, shoes, clothing, fitness and nutrition guidance to communities in need. The SKECHERS Foundation also develops community and afterschool programs for local students, including classes with SKECHERS shoe designers held at the SKECHERS corporate headquarters in Manhattan Beach.

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 http://www.skechers.com, and follow us on Facebook (https://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, 2010 and its Form 10-Q for the quarter ended September 30, 2011. 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50184674&lang=en

SKECHERS USA, Inc.
Jennifer Clay
310-937-1326

SKECHERS Announces Fourth Quarter and Fiscal Year 2011 Financial Results

by | Feb 15, 2012 | Press Release

Feb 15, 2012 • 4:00 pm EST

• Fourth Quarter 2011 Net Sales of $283.2 Million
• Fiscal Year 2011 Net Sales of $1.606 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, 2011.

Net sales for the fourth quarter of 2011 were $283.2 million as compared to $454.6 million in the fourth quarter of 2010. Loss from operations in the fourth quarter of 2011 was $103.1 million versus earnings from operations of $1.4 million in the fourth quarter of 2010. Net loss for the fourth quarter of 2011 was $57.7 million versus net earnings $3.2 million in the fourth quarter of 2010. Net loss per diluted share in the fourth quarter of 2011 was $1.18 based on 48.9 million weighted average shares outstanding as compared to net earnings per diluted share of $0.07 based on 49.2 million weighted average shares outstanding in the fourth quarter of 2010. Gross profit for the fourth quarter of 2011 was $112.6 million, including an additional reserve of $5.6 million on our original Shape-ups product, compared to $184.2 million in the fourth quarter of 2010. Gross margin in the fourth quarter 2011 was 39.8 percent versus 40.5 percent for the fourth quarter of 2010. The net loss for the quarter includes a pre-tax $45.0 million reserve for potential exposure relating to previously disclosed litigation and regulatory matters. Also, in the fourth quarter of 2011, we recorded additional pre-tax expenses of $5.0 million in additional legal and professional fees for various legal matters, $3.1 million in impairment charges, and $4.6 million in foreign bad debt reserves, offset by a pre-tax gain of $9.9 million on the sale of one of our former distribution center facilities in Ontario, California.

“Fourth quarter 2011 net sales were down 37.7 percent, which is attributable to a difficult comparison against a record fourth quarter 2010 that included higher priced toning footwear, combined with lower than expected sales across many of our other SKECHERS footwear lines primarily in our domestic wholesale business,” began David Weinberg, chief operating officer and chief financial officer. “Our international business was also impacted by the slowing of toning sales as well as economic difficulties in many markets. Our retail business held up the best in part due to the increased number of stores as well as our ability to quickly turn product.”

Fiscal year 2011 net sales were $1.606 billion as compared to net sales of $2.007 billion in 2010. Loss from operations for 2011 was $133.8 million versus earnings from operations of $195.6 million in 2010. Net loss for 2011 was $67.5 million versus net earnings of $136.1 million in 2010. Net loss per diluted share for fiscal year 2011 was $1.39 based on 48.5 million weighted average shares outstanding versus diluted earnings per share of $2.78 based on 49.0 million weighted average shares outstanding in the prior year. Gross profit for 2011 was $623.7 million compared to $911.9 million in 2010. Gross margin for 2011 was 38.8 percent versus 45.4 percent for 2010.

Robert Greenberg, SKECHERS chief executive officer, commented: “In 2010, we experienced record growth with annual sales exceeding $2 billion and were the clear leader in the explosive toning category, which has since slowed significantly. Our strong position in the fitness footwear industry however led to the development and marketing of our first true performance footwear line, Skechers GOrun. The initial response has been strong following its first delivery to select stores in the fourth quarter of 2011, and continues to grow as it expands to more doors during the first quarter of 2012. We have also built on this fitness platform with lifestyle athletic shoes for kids and adults. Last quarter we supported our kids, lifestyle and fitness lines with commercials, including a high energy spot for Skechers GOrun. This quarter we created a media frenzy with our new Skechers GOrun Super Bowl commercial, starring the spunky French bulldog Mr. Quiggly and Dallas Mavericks owner Mark Cuban. Along with Mr. Quiggly and Mark Cuban, we continue to support our lifestyle and fitness lines with Dancing with the Stars host Brooke Burke for BOBS from SKECHERS and LIV by SKECHERS, and elite runner Meb Keflezighi, who ran a personal best time and won the Olympic marathon trials in January while wearing custom Skechers GOrun footwear. Our new lines were delivered this quarter to many markets around the world, and we are excited to see the enthusiasm for our fresh products from both our international retail partners and consumers. We are continuing to expand in key international markets, including the recent transition of our business in Japan from a third-party distributor to a wholly-owned subsidiary. We are also encouraged by our company-owned concept stores, which had positive comp sales in January 2012. We believe that many of the challenges that we faced in the back half of 2011 are behind us, and we are eager to move ahead with our fresh product, effective marketing, and targeted distribution.”

Mr. Weinberg added: “2011 was a challenging year with the shift in footwear trends, but we are pleased with the advancements we have made in our product offering and in the management of our inventory levels, which decreased by $172 million year-over-year. We believe our cash position of $351 million, our reduced inventory levels, along with the opening of our more efficient North American distribution center in November 2011, our significantly reduced selling expense plan, as well as an expected tax refund receivable of approximately $52 million, provides us with the necessary liquidity to position us well for the back half of 2012. We will be working toward reducing our operating expenses relative to top line revenues in the back half of the year, and believe the only planned spending increases this year will be for the opening of 18 to 20 company-owned stores and the launch of our subsidiary in Japan as we look to build this market to be our largest subsidiary. ”

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, 2010 and its Form 10-Q for the quarter ended September 30, 2011. 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.

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

SKECHERS USA, Inc. to Report Fourth Quarter and Full Year Financial Results on Wednesday, February 15, 2012

by | Feb 9, 2012 | Press Release

Feb 9, 2012 • 8:00 am 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 fiscal 2011 fourth quarter and full year financial results will be broadcast live over the internet on Wednesday, February 15, 2012 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 and will be archived for two weeks. For those unable to participate during the live broadcast, a replay will be available beginning February 15, 2012 at 7:30 p.m. ET, through February 29, 2012 at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 4511006.

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).

SKECHERS USA, Inc.
David Weinberg, Chief Operating Officer and Chief Financial Officer
310-318-3100
or
Investor Relations:
Addo Communications Inc.
Andrew Greenebaum, 310-829-5400
[email protected]

SKECHERS’ Much Anticipated Super Bowl TV Commercial Launches Early

by | Feb 3, 2012 | Press Release

Feb 3, 2012 • 8:30 am EST

Media Buzz Prompts Footwear Company to Release New Skechers GOrun Spot at Select Media Outlets and Online

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) announced today that its complete 30-second Skechers GOrun commercial set to air on Sunday during SUPER BOWL XLVI premiered last night on Entertainment Tonight and is now available to view online. Mr. Quiggly, the French bulldog star of the ad, also helped promote his commercial with an appearance on Good Morning America this morning. Featured this week in the top ten list on NBC Sports’ Super Bowl Ad Power Rankings, the much talked about spot can be voted on by fans on Sunday via the USA Today Facebook Ad Meter, YouTube Ad Blitz, and Twitter’s Ad Scrimmage.

Anticipation for the spot has been building over the last month after SKECHERS introduced the world to Mr. Quiggly—the adorable pooch who quickly became an unexpected star by using SKECHERS GOrun revolutionary lightweight mid-foot strike running shoes as a secret weapon for his big race, and exemplifying how an “underdog” can achieve something remarkable. A media frenzy exploded when news outlets compared the footwear company’s previous Super Bowl spot, which starred Kim Kardashian, to this year’s commercial with Mr. Quiggly. E!online ranked the ad number 5 in their “Top Ten Super Bowl Commercials We Can’t Wait For!” list and commented, “Sorry, Kim, but Mr. Quiggly has already stolen our hearts.”

Billionaire entrepreneur and Dallas Mavericks owner Mark Cuban also stars in the ad that features rapper Tone Loc’s hit single, “Wild Thing.” This new campaign uses humor to illustrate how SKECHERS now produces performance footwear that’s exceeding expectations and impressing runners and athletes everywhere. SKECHERS will run the ad in the coveted position at the two minute warning during the first half of the game.

In addition to a brief teaser for the ad released on YouTube several days ago, the Company has created buzz and awareness via a campaign focused on Mr. Quiggly across its pages on both Facebook and Twitter. SKECHERS encourages fans to use the hash tag #MrQuiggly when tweeting about the spot as it continues to leverage the power of social media to promote the ad and Skechers GOrun product.

Designed by the Company’s Advanced Concepts Team after three years of research working with elite runners, the radically lightweight Skechers GOrun minimal running shoe features mid-foot strike technology and GOimpulse sensors for enhanced sensory feedback. Skechers GOrun is available in sporting goods, department and specialty athletic stores, and SKECHERS stores around the world.

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, 2010 and its Form 10-Q for the quarter ended September 30, 2011. 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.

SKECHERS USA, Inc.
Jennifer Clay, 310-937-1326

ADDING MULTIMEDIA Meb Keflezighi Earns Spot on 2012 U.S. London Team with First Place Finish Wearing Skechers GOrun at Houston Trials

by | Jan 14, 2012 | Press Release

Jan 14, 2012 • 12:13 pm EST

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) announced that elite runner and 2004 silver medalist Meb Keflezighi will be joining the U.S. Team in London after finishing first and setting a new personal record of 2:09:08 at the 2012 Houston Trials today. Wearing Skechers GOrun racing footwear, Meb surpassed his 2011 New York Marathon time of 2:09:13.

Meb Keflezighi pulls ahead of the pack wearing Skechers GOrun racing footwear at the Houston Trials. (Photo: Business Wire)

“I am incredibly excited and proud to be representing the United States in London next summer,” began Keflezighi. “And to come in first while setting a new PR at the Trials is icing on the cake. New York was only 69 days ago and in that short time I did what I could to maintain focus on today’s race while training at high altitudes in my Skechers GOrun racing shoes. With two PRs in just over three months it’s clear that SKECHERS’ mid-foot strike technology has made a positive impact on my stride. I’m running more efficiently than I have my entire life.”

Skechers GOrun is an innovative new minimalistic lightweight running line featuring revolutionary mid-foot strike technology and GOimpulse sensors for enhanced sensory feedback. Meb has provided SKECHERS with expert insight by testing and consulting on the design of Skechers GOrun as well as other high-performance product currently in development. And he will be wearing exclusive Skechers GOrun racing shoes specially designed for the premiere event when he competes for gold in London on August 12, 2012.

“We congratulate Meb on his fantastic performance in Houston today and look forward to being there with him on the global stage in London next summer. When a world-class athlete like Meb continues to improve his race wearing SKECHERS performance footwear, it solidifies our position as an emerging force in the running world,” said SKECHERS president Michael Greenberg. “Meb is a great inspiration and he illustrates to runners of all levels that it’s possible to achieve great success by training and competing in our new minimalistic, extremely flexible, responsive, lightweight footwear.”

Skechers GOrun is available in sporting goods, department and specialty athletic stores, and SKECHERS stores around the world.

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 (https://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, 2010 and its Form 10-Q for the quarter ended September 30, 2011. 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50133645&lang=en

SKECHERS USA, Inc.
Jennifer Clay, 310-937-1326