SKECHERS to Present at the 13th Annual B. Riley Investor Conference

by | May 8, 2012 | Press Release

May 8, 2012 • 9:00 am EDT

LOS ANGELES–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced that David Weinberg, the Company’s Chief Operating Officer and Chief Financial Officer, will present at the 13th Annual B. Riley Investor Conference on Tuesday May 22, 2012 at 2:30 PM PDT at the Loews Santa Monica Beach Hotel in Santa Monica, California.

The audio portion of the presentation will be available live by visiting the ‘Investor Relations’ section of the Company’s Website at www.skx.com. A replay of the audio will be accessible on the site for 90 days following the live presentation.

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. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in 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.

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 Announces First Quarter 2012 Financial Results

by | Apr 25, 2012 | Press Release

Apr 25, 2012 • 4:00 pm EDT

• Net Sales of $351.3 Million
• Net Loss of $3.7 Million
• Diluted Loss Per Share of $0.07

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in footwear, today announced financial results for the first quarter ended March 31, 2012.

First quarter 2012 net sales were $351.3 million compared to $476.2 million in the first quarter of 2011.Loss from operations for the first quarter of 2012 was $4.4 million compared to earnings from operations of $15.3 million in the first quarter of 2011. Net loss for the first quarter of 2012 was $3.7 million versus net earnings of $11.8 million in the first quarter of 2011. Diluted loss per share was $0.07 based on 49,265,000 weighted average shares outstanding as compared to diluted net earnings per share of $0.24 based on 49,280,000 weighted average shares outstanding.

“We believe our first quarter 2012 results represent a solid performance as we delivered more fresh product, which resulted in an increase in average price per pair of 5.8 percent compared to the first quarter of 2011. We also had a 40 percent decrease in total pairs sold in the first quarter of 2012 due to the clearing of excess toning inventory at reduced prices in the prior year period. In our company-owned SKECHERS concept stores, which are the first to receive new product across all of our divisions, we achieved positive comp store sales in dollars and a double digit percentage increase in pairs sold. With more full-price product at market, our gross margin percentage improved significantly compared to the first quarter of 2011,” stated David Weinberg, chief operating officer and chief financial officer.

Gross profit for the first quarter of 2012 was $155.7 million or 44.3 percent of net sales compared to $192.6 million or 40.4 percent of net sales in the first quarter of last year.

Robert Greenberg, SKECHERS chief executive officer, commented: “Twenty years ago next month we formed SKECHERS. Seven years later we went public, and today we are a billion-dollar plus global brand with successful lifestyle and active lines for men and women, a thriving work footwear business, a cast of animated characters that represent our multiple kids lines, and an emerging performance footwear business that is being embraced by enthusiasts worldwide. While we have faced challenges over the years, we are proud of our growth and many achievements – including the recent launch of Skechers GOrun. This quarter, elite runner Meb Keflezighi ran a personal best time and won the Olympic marathon trials while wearing custom Skechers GOrun footwear. We also returned to profitability in our retail stores, shipped one-million pairs of BOBS shoes to our charity partners to distribute to children in need through our giveaway program, and showcased our product to Japanese retailers as a wholly-owned subsidiary for the first time. We continued to support each of our divisions with multiple marketing campaigns, including more than a dozen television spots and a new Super Bowl campaign, which was named a Top 5 commercial by several media outlets during this coveted program. On the eve of our 20^th anniversary, we are excited about the coming year and what the future will hold. Our goal when we started this company may have been modest, but we are now determined to profitably grow and continue to be a relevant, in-demand lifestyle brand to men, women and kids, and an innovator in the performance market.”

Mr. Weinberg continued: “Our first quarter 2012 sales are in line with our expectations given the continued challenging global economic retail environment and changes in retail trends. With strong sales in our company owned retail stores, new offerings delivering across all of our product divisions, including the launch of several new performance lines this quarter and in the third quarter of 2012, targeted marketing support, improved gross margins, a continued focus on reducing our operating expenses and significantly lower inventory levels and a strong cash position of approximately $392 million, we believe we will return to profitability later this year.”

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. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, as well as in 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.

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. Forward-looking statements in this announcement include, among other things, our expectation to return to profitability. 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 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.
Company Contact:
David Weinberg
Chief Operating Officer
Chief Financial Officer
310-318-3100
or
Investor Relations:
Andrew Greenebaum
310-829-5400

SKECHERS USA, Inc. to Report First Quarter 2012 Financial Results on Wednesday, April 25, 2012

by | Apr 19, 2012 | Press Release

Apr 19, 2012 • 8:00 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 2012 first quarter financial results will be broadcast live over the internet on Wednesday, April 25, 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 April 25, 2012 at 7:30 p.m. ET, through May 9, 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: 4531561.

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, as well as in over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Canada, Brazil, Chile, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com.

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 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