Jimmy Kimmel to Join Brooke Burke-Charvet and Tommy Lasorda at SKECHERS Pier to Pier Friendship Walk

by | Oct 10, 2013 | Press Release

Oct 10, 2013 • 6:29 pm EDT

Celebrities turn out to help raise one million dollars for children with special needs and education at fifth annual charity walk on October 27

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Jimmy Kimmel, host of ABC’s popular late night Jimmy Kimmel Live!, will bring his famous wit to the stage of the 2013 SKECHERS Pier to Pier Friendship Walk to help raise one million dollars and awareness for children with special needs and education. Also returning to the annual charity event are Dancing with the Stars co-host Brooke Burke-Charvet and legendary Hall of Fame baseball manager Tommy Lasorda, plus Real Housewives of New Jersey star Jacqueline Laurita who will be appearing for the first time. The all-star lineup will join Kimmel at an opening ceremony to kick off the walk on October 27.

“I am honored to help raise funds and awareness for children with special needs,” said Jimmy Kimmel, who has a family member with Autism. “This is a fun event for a very worthy cause and I hope to say hello to everyone who participates.”

“I’m thrilled to be back again for this fantastic walk,” said Brooke Burke-Charvet. “It’s a moving experience to see so many families come together to help improve the schools, and to see the joy on the faces of all the children, who understand that their involvement is making a difference.”

“Raising $1.9 million and reaching 60,000 children in only four years feels like an amazing achievement,” added Michael Greenberg, president of SKECHERS. “The Skechers Pier to Pier Friendship Walk began as a local event and now it’s the largest in Southern California for supporting children with special needs and education. This year, we set our goal higher than ever, and with the help of Jimmy and our roster of celebrity ambassadors, we plan to raise one million dollars in 2013.”

Since its inception, the walk has raised funds to help save teachers’ jobs, retain vital educational programs, maintain smaller class sizes, improve libraries, upgrade school technology, as well as support The Friendship Circle (www.gotfriends.com) – an organization that assists children with special needs and their families through one-on-one peer mentoring and social recreational programming.

“I’ve been involved with this event since the first walk in 2009 and truly love it,” added Tommy Lasorda. “Every year is bigger than the last, so it’s amazing to come back each time to see the real impact it makes on kids and their families.”

SKECHERS anticipates their biggest event to date with over 10,000 people expected to show their support by walking 3.4 miles from the Manhattan Beach Pier to the Hermosa Pier and back. The opening ceremony begins at 9AM at the Manhattan Beach Pier. To learn more or register, visit www.skechersfriendshipwalk.com.

In addition to headlining sponsor Nickelodeon, the SKECHERS Pier to Pier Friendship Walk thanks sponsors that include: Zappos.com, Ross, Rack Room, DSW, United Legwear, Marshalls, Toyota, WWS, Journeys, Chevron, Premiere Displays & Exhibits, Body Glove, Dealer.com, DirecTv, Equinox, Union Bank, Michael Stars, Microsoft, Wells Fargo, Viva International Group, Northrop Grumman, Honda, Fresh Brothers, Shade Hotel, Murad, Finish Line, Fair Fashion Media, Foot Locker, OK! Magazine, and many others who have provided funds and support to provide a better future for children.

ABOUT SKECHERS Foundation

The SKECHERS Foundation was established to provide families around the world with the necessities and skills to succeed in life. In addition to organizing the SKECHERS Pier to Pier Friendship Walk, the SKECHERS Foundation funds tax-exempt, 501(c)(3) nonprofit organizations that provide education and job training, shoes, clothing, fitness and nutrition guidance to communities in need.

ABOUT SKECHERS USA, INC.

SKECHERS USA, Inc. (NYSE: SKX), based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name. SKECHERS footwear is available in the United States via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and over 100 countries and territories through the Company’s global network of distributors and subsidiaries in Brazil, Canada, Chile, Japan, and across Europe, as well as through joint ventures in Asia. For more information, please visit www.skechers.com, and follow us on Facebook (www.facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).

This announcement may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or simply state future results, performance or achievements, and can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences includethe resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the three months ended June 30, 2013. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

SKECHERS USA, Inc.
Stacey Kammerzell, 310-318-3100

SKECHERS Files Amended Annual Report on Form 10-K/A for Fiscal 2012

by | Jul 31, 2013 | Press Release

Jul 31, 2013 • 3:10 pm EDT

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), today announced that its independent registered public accounting firm, BDO USA, LLP (“BDO”), has completed a re-audit of the Company’s consolidated financial statements for the fiscal years ended December 31, 2012 and 2011, and the attestation of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2012 under Section 404 of the Sarbanes-Oxley Act of 2002, as amended (collectively, the “Re-audit”). No adjustments or changes were made to the Company’s consolidated financial statements or related notes for the fiscal years ended December 31, 2012 and 2011, except for updates with respect to subsequent events that related to certain litigation matters.

As previously announced, BDO was appointed as the Company’s new independent registered public accounting firm on April 24, 2013 following the resignation of KPMG LLP (“KPMG”) as its predecessor independent registered public accounting firm on April 8, 2013. The resignation of KPMG was due solely to the impairment of its independence resulting from its now former partner’s alleged unlawful activities. The resignation of KPMG was not related to the Company’s financial statements, its accounting practices, the integrity of the Company’s management, or for any other reason.

Following the completion of the Re-audit by BDO, the Company has filed an amended annual report on Form 10-K/A for the year ended December 31, 2012 with the U.S. Securities and Exchange Commission, which includes BDO’s audit reports relating to the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2012 and 2011 and a related financial statement schedule, and the effectiveness of the Company’s internal control over financial reporting as of December 31, 2012, which replace the corresponding audit reports of KPMG in the annual report on Form 10-K for the year ended December 31, 2012 that were withdrawn upon KPMG’s resignation subsequent to the filing.

“We are pleased that BDO’s thorough and efficient work has allowed for this transitional period to successfully conclude, and we can now focus on managing our global footwear business,” stated David Weinberg, Chief Operating Officer and Chief Financial Officer of Skechers.

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. SKECHERS footwear is available in the United States through 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, and follow us on Facebook (www.facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future financial results and operations, future demand for its products and its planned advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2012, and its Form 10-Q for the quarter ended March 31, 2013. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

SKECHERS USA, Inc.
Jennifer Clay
(310) 937-1326
or
Investor Relations:
Addo Communications
Andrew Greenebaum
(310) 829-5400

SKECHERS Announces Second Quarter 2013 Financial Results

by | Jul 24, 2013 | Press Release

Jul 24, 2013 • 4:00 pm EDT

• Net Sales Increase 11.5 Percent to $428.2 Million
• Earnings from Operations of $17.2 Million
• Net Earnings of $7.1 Million
• Diluted Earnings Per Share of $0.14

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, today announced financial results for the second quarter ended June 30, 2013.

Second quarter 2013 net sales were $428.2 million compared to $384.0 million for the second quarter of 2012. Gross profit for the second quarter of 2013 was $194.9 million or 45.5 percent of net sales compared to $171.3 million or 44.6 percent of net sales for the second quarter of last year. Earnings from operations for the second quarter of 2013 were $17.2 million versus a loss from operations of $1.5 million for the second quarter of 2012.

“The strong increase in second quarter sales is the result of double-digit gains in both our international wholesale and company-owned retail businesses as well as the single-digit improvements in our domestic wholesale division. Our 45.5 percent gross margins are the result of improvements in our company-owned retail stores and international subsidiary businesses combined with the expected decrease in international distributor sales, which carry lower gross margins,” began David Weinberg, chief operating officer and chief financial officer. “Further, the demand for our fresh product also resulted in a 16.5 percent increase in domestic and international comp store sales, a leading indicator of the underlying strength of our product offerings. We are particularly pleased with the growth given that Easter fell into the first quarter this year as opposed to the second quarter last year, and that we achieved gains despite the unseasonably cooler Spring temperatures in the United States and many other regions.”

Net earnings in the second quarter of 2013 were $7.1 million compared to a net loss of $1.8 million for the second quarter of 2012. Diluted net earnings per share were $0.14 based on 50,497,000 weighted average shares outstanding compared to diluted net loss per share of $0.04 based on 49,296,000 weighted average shares outstanding for the same period last year.

For the six months ended June 30, 2013, net sales were $879.9 million compared to net sales of $735.3 million in the first six months of 2012. Gross profit for the first six months of 2013 was $387.6 million or 44.1 percent of net sales, compared to $327.0 million or 44.5 percent of net sales for the first six months of 2012. Earnings from operations for the first six months of 2013 were $32.5 million, compared to a loss from operations of $5.9 million for the same period last year.

Net earnings in the first six months of 2013 were $13.8 million compared to net a loss of $5.4 million in the same period last year. Diluted net earnings per share were $0.27 based on 50,494,000 weighted average common shares outstanding compared to a net loss of $0.11 based on 49,281,000 weighted average common shares outstanding for the first six months of 2012.

Robert Greenberg, SKECHERS chief executive officer, commented: “In June, we hosted our 21^st annual Global Sales Conference for our domestic, international and retail teams to review our products, and we have spent much of this month in key account meetings at our corporate offices doing the same. The positive feedback we have received in these meetings is unlike any we have previously experienced. We believe this is due to a more diversified product balance. With strong offerings throughout our footwear lines, we now have many key product successes, including Skechers Relaxed Fit, which crosses into our lifestyle athletic and casual divisions. This increased product balance has allowed us to redefine many of our lines and grow our divisions through new offerings, including the year-round extension of our charitable line BOBS, which reached the five million pair donation mark in June, and the expansion of our award-winning SKECHERS Performance Division, which has grown into a solid business. We continue to support our brands with numerous men’s, women’s and kids television campaigns, and for Back to School, many of the same commercials will be shown around the world to support our global business. We are now seeing the impact of our key product initiatives and marketing support taking hold around the world. Based on the reaction at our recent key account meetings and current performance in the market, we believe the momentum we are experiencing will continue through this year and into next year.”

Mr. Weinberg added: “We believe the first six months of 2013 with improved sales, gross margins and earnings are an indication of the financial performance we will achieve in the back half of the year. Our return to profitability, cash balance of $333.0 million, and in-line inventory levels are indicators of our determination to efficiently manage our business. We are experiencing exceptional sell-throughs on the broadest assortment of key product in our company’s history. We are looking forward to delivering the remainder of our fall product offerings, and launching the next phase of our development for a successful holiday and Spring 2014.”

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. SKECHERS footwear is available in the United States through 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, and follow us on Facebook (www.facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s future financial results and operations, future demand for its products and its planned advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will be,” “will continue,” “will result,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers, decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in the Company’s annual report on Form 10-K for the year ended December 31, 2012, and its Form 10-Q for the quarter ended March 31, 2013. The risks included here are not exhaustive.The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time and the companies cannot predict all such risk factors, nor can the companies assess the impact of all such risk factors on their respective businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

Company Contact:
David Weinberg
Chief Operating Officer
Chief Financial Officer
SKECHERS USA, Inc.
(310) 318-3100
or
Investor Relations:
Andrew Greenebaum
Addo Communications
(310) 829-5400

SKECHERS USA, Inc. to Report Second Quarter 2013 Financial Results on Wednesday, July 24

by | Jul 18, 2013 | Press Release

Jul 18, 2013 • 9:00 am EDT

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global leader in lifestyle footwear, announced today that the Company’s conference call to review its fiscal 2013 second quarter financial results will be broadcast live over the internet on Wednesday, July 24, 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 July 24, 2013, at 7:30 p.m. ET, through August 7, 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: 416963.

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. 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).

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]