SKECHERS Announces Resignation of KPMG as Lead Auditor

by | Apr 9, 2013 | Press Release

Apr 9, 2013 • 12:29 pm EDT

• SKECHERS Eager to Hire New Audit Firm as the Footwear Company Prepares to Announce Positive Q1 2013 Financial Results

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), today announced that KPMG, LLP resigned yesterday, April 8, 2013, as independent auditor of Skechers due to misconduct by KPMG’s lead Audit Engagement Partner on the Skechers account. In connection with its resignation, KPMG has publicly stated that it has “no reason to believe that the financial statements of Skechers have been materially misstated.”

David Weinberg, Skechers Chief Operating Officer and Chief Financial Officer, stated, “KPMG has advised us that that they have no reason to believe that there were any misstatements in our financial statements, and we firmly believe that there has been no misstatements of our results or financial condition. Nonetheless, it is an unfortunate development at a time when we are preparing to release earnings for the First Quarter of 2013, a quarter which, like the Fourth Quarter of 2012, we believe will show significant growth and the continuing strength and viability of our business. We are working diligently to replace KPMG as quickly and efficiently as possible as we look forward to releasing positive results for the first quarter of 2013 later this month.”

Upon resignation, Skechers was informed by KPMG that KPMG’s lead Audit Engagement Partner on the Skechers account is under federal investigation for providing non-public information of his clients to a third party in exchange for money. The third party then used that information to trade stocks of several West Coast companies. KPMG told Skechers that the KPMG audit partner under investigation is cooperating with the authorities and admitted that Skechers was one of its clients whose non-public information was provided to a third party in exchange for money. KPMG further advised Skechers that, as a result of these developments, KPMG has determined that its independence has been impaired and it must resign as Skechers auditors immediately and withdraw its auditors’ reports for the fiscal years 2011 and 2012.

KPMG advised the Company it resigned as Skechers’ independent accountant solely due to the impairment of KPMG’s independence resulting from its now former partner’s alleged unlawful activities and not for any reason related to Skechers’ financial statements, its accounting practices, the integrity of Skechers’ management or for any other reason.

None of KPMG’s audit reports on Skechers’ financial statements for the fiscal years ended December 31, 2011 and 2012 or KPMG’s audit reports on the effectiveness of internal control over financial reporting as of December 31, 2011 and 2012 contained an adverse opinion or a disclaimer of opinion, nor was any such report qualified or modified as to uncertainty, audit scope or accounting principles. In addition, at no point during the two fiscal years ended December 31, 2012 and the subsequent interim period through April 8, 2013 were there any (1) disagreements with KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreement(s), if not resolved to the satisfaction of KPMG, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its reports, or (2) “reportable events” as such term is defined in Item 304(a)(1)(v) of Regulation S-K.

Skechers has immediately started to search for replacement auditors in an effort to have them in place as soon as possible. Skechers is unable to provide an estimate of when the re-audit of fiscal years 2011 and 2012 will be completed.

ABOUT SKECHERS USA, INC.

SKECHERS USA, Inc. (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, 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.

Company Contact:
SKECHERS USA, Inc.
Jennifer Clay, 310-318-3100
or
Investor Relations:
Andrew Greenebaum, 310-829-5400

Skechers Performance Named Sports Footwear Brand of the Year

by | Mar 6, 2013 | Press Release

Mar 6, 2013 • 12:05 pm EST

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announces that the Skechers Performance Division was named the Sports Footwear Brand of the Year at The Footwear Industry Awards in the United Kingdom. This achievement follows a year when Skechers Performance received eight awards from major international running and fitness publications recognizing its innovative footwear product.

The prestigious annual event, held on February 17, 2013 during the Moda Footwear Show, was organized by Datateam Business Media with support from industry players including British Footwear Association (BFA), Independent Footwear Retailers Association (IFRA), the Society of Shoe Fitters (SSF) and Footwear Today. The group recognizes excellence at every level and SKECHERS won over a strong competitive field that included Nike, Hi-Tec, Clarks and Vibram. SKECHERS was also an overall nominee for Men’s Footwear Brand of the Year.

“It’s always a great feeling to be recognized by our peers,” began Michael Greenberg, president of SKECHERS, “especially when the recognition comes for a challenging field and our steps into the performance world began in 2011 with the launch of the Skechers Performance Division. We’re extremely proud that our pioneering performance technology is being embraced by critics in the media, elite runners like Meb, and casual enthusiasts for the sport. We hope that as we leverage our innovations into a wider collection of performance product, more and more people around the globe will turn to SKECHERS for performance footwear built for running, walking, golfing, hiking and more.”

Skechers GOrun is a lightweight running line featuring revolutionary technology that promotes a midfoot strike and GOimpulse sensors for a responsive experience. Elite marathon runner 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. Plus, on the more casual side, Skechers GOwalk is the foundation for a collection of performance walking shoes and Skechers on-the-GO fuses performance technologies with iconic design and style.

In an effort to build the brand across the United Kingdom, Skechers Performance is the Official Footwear Sponsor of both the London and Blenheim triathlons and the Headline Sponsor of the Milton Keynes Marathon. In addition, Meb returns to competition at the upcoming New York City Half Marathon followed by the Boston Marathon in April, and the Skechers Performance Division continues to appear at marathon expos from New York to Paris to Tokyo.

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).

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, 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

SKECHERS Distribution Center Certified as Largest LEED Gold Building in the United States

by | Feb 19, 2013 | Press Release

Feb 19, 2013 • 6:36 pm EST

1.82 million-square-foot Highland Fairview-SKECHERS facility in California’s Inland Empire is recognized for environmentally-friendly design

MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX) today announced that its North American distribution center in Rancho Belago, California has been officially certified LEED Gold by the U.S. Green Building Council. Designed and built by developer Highland Fairview to the highest environmental standards, the 1.82 million-square-foot SKECHERS facility is the largest LEED certified building in the United States to have received this honor.

SKECHERS North American distribution center in Rancho Belago, California. (Photo: Business Wire)

“SKECHERS is committed to growing its business in a way that conserves natural resources, protects the environment and reduces waste,” said David Weinberg, SKECHERS Chief Operating Officer and Chief Financial Officer. “In addition to efficiently distributing our product across North America, the SKECHERS Rancho Belago facility is an outstanding example of how large corporations can grow their business while also promoting Earth-friendly practices. We’re proud of the design innovation and ‘green’ features that can be found throughout the facility.”

“We are honored to receive this unique recognition. A LEED Gold designation is a tremendous achievement for any size project and to be recognized for the largest most advanced sustainable development of its kind in the U.S. is especially rewarding,” said Highland Fairview President and Chief Executive Officer Iddo Benzeevi.

LEED (Leadership in Energy and Environmental Design) certification for commercial buildings involves a scorecard that evaluates several categories: sustainability, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, and innovation. The SKECHERS distribution center, which received its certification on December 28, 2012, earned 41 points from this scorecard to secure LEED Gold certification. Key features include:

• 280,000 square-feet of solar power generation systems on the roof.
• Lighting that operates as needed, regulated by motion sensors and powered in part by solar panels.
• A warehouse ventilation system that utilizes outside air drawn through louvers facing the prevailing winds, plus energy efficient heating and cooling systems.
• A solar reflective white “cool roof” and light colored on-site pavement to help reduce heat and global warming.
• Water efficient and drought tolerant landscaping that reduces irrigation by 50 percent.
• A Water Pollution Prevention Program that captures and treats storm water runoff from 90 percent of annual rainfall.
• Low-emitting paints, coatings, glues, and sealants that comply with LEED standards were used during construction.
• Recycled and regional building materials were sourced within 500 miles of the construction site. The majority of on-site construction waste materials were recycled as well.

Weinberg added: “With the capacity to annually ship 100-million pairs of shoes, this state-of-the-art automated facility will allow us to efficiently grow our business with reduced impact to the environment. And, with the addition of a SKECHERS retail store at the site, we can service the local community.”

The official groundbreaking ceremony for the SKECHERS distribution center took place in March 2010, and was attended by then governor Arnold Schwarzenegger, and the building opened for operation in November 2011. In addition to the warehouse operations – which can process 18,000 to 20,000 pairs of shoes for distribution in one hour – the structure includes 20,000 square-feet of office space and a SKECHERS retail store.

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).

ABOUT Highland Fairview

Highland Fairview is a privately held real estate development company specializing in the development of large scale, industrial, commercial and residential projects. Highland Fairview and its affiliate companies currently own approximately five square miles of properties within Southern California which are in various stages of development. Highland Fairview’s is committed to sustainable development through its Full-Life-Cycle approach to development

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

SKECHERS Announces Fourth Quarter and Fiscal Year 2012 Financial Results

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.

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

Meb Named Top U.S. Marathoner for 2012 by Running Times Magazine

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