by | Oct 22, 2015 | Press Release
Oct 22, 2015 • 4:05 pm EDT
Record Net Sales of $856.2 Million, an Increase of 27.0 Percent
Earnings from Operations of $95.6 Million
Net Earnings of $66.6 Million
Diluted Earnings per Share of $0.43
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader and the second largest athletic footwear brand in the United States, today announced financial results for the third quarter ended September 30, 2015. All share and per share information has been retroactively adjusted for the three-for-one stock split that was effective on October 15, 2015.
Third quarter 2015 net sales were $856.2 million compared to $674.3 million for the third quarter of 2014. Gross profit for the third quarter of 2015 was $387.0 million or 45.2 percent of net sales compared to $304.5 million or 45.2 percent of net sales for the third quarter of last year. Earnings from operations for the third quarter of 2015 were $95.6 million as compared to earnings from operations of $74.1 million in the third quarter of 2014.
“With product and marketing initiatives that continue to resonate with our consumers worldwide, we achieved a new quarterly sales record of $856.2 million in the third quarter of 2015. These results followed record first and second quarter revenues, resulting in a 34.1 percent net sales increase for the first nine months of 2015 as compared to the same period last year,” began David Weinberg, chief operating officer and chief financial officer. “Driving the quarterly revenue were net sales increases of 11.8 percent in our domestic wholesale business, 52.9 percent in our international wholesale business, and 20.9 percent in our Company-owned global retail business, which includes a 10.4 percent increase in comparable sales for the quarter. Of note, the gains in our business came despite the impact of negative foreign currency exchange rates in Brazil, Canada and Chile, and a rather sluggish domestic retail environment where we still achieved an increase in average price per pair of 6.8 percent during the third quarter in our domestic wholesale business.”
Net earnings for the third quarter were $66.6 million compared to net earnings of $51.1 million in the third quarter of 2014, an increase of 30.3 percent. Diluted net earnings per share for the third quarter were $0.43 on 154.5 million weighted average shares outstanding, compared to diluted net earnings per share of $0.33 on 153.0 million weighted average shares outstanding for the third quarter of 2014. The Company’s diluted earnings per share for the third quarter of 2015 was negatively impacted by several factors including foreign currency translation and exchange losses of $13.5 million, and increased deferred rent expenses of $3.5 million related to the new Fifth Avenue Skechers retail store, which opened during the third quarter, and a second Skechers location in Times Square, which just opened. Additionally, during the third quarter of 2015 diluted earnings per share were impacted by increased legal expenses of $5.0 million related to the settlement of personal injury lawsuits from the Company’s toning footwear business; and $5.9 million in higher legal fees and associated costs primarily related to intellectual property litigation, which included the matter of Converse, Inc. v. Skechers U.S.A., Inc., which went to trial before the International Trade Commission in August of this year. The Company believes that most, if not all, of these legal matters will come to a conclusion by early next year. During the third quarter of 2015, these additional expenses reduced diluted earnings per share by $0.15.
For the nine months ended September 30, 2015, net sales were $2.425 billion compared to net sales of $1.808 billion in the first nine months of 2014. Gross profit for the first nine months of 2015 was $1.094 billion or 45.1 percent of net sales, compared to $814.3 million or 45.0 percent of net sales for the first nine months of 2014. Earnings from operations for the first nine months of 2015 were $296.1 million, compared to earnings from operations of $176.1 million in the first nine months of 2014.
Net earnings for first nine months of 2015 were $202.5 million compared to net earnings of $116.9 million in the same period last year, an increase of 73.2 percent. Diluted net earnings per share in the first nine months of 2015 was $1.31 per share on 154.1 million weighted average shares, compared to net earnings per share of $0.77 per share on 152.7 million weighted average shares for the same period last year. As of September 30, 2015, the Company’s backlog increased 28 percent as compared to September 30, 2014.
Robert Greenberg, SKECHERS chief executive officer, commented: “The continued quarterly sales records, including our highestquarterly sales in the Company’s 23-year history in the third quarter, is a testament to the strength of our brand and the innovative product we continue to develop and deliver. We are pleased that Skechers has grown to be the second largest athletic footwear brand in the United States, and that we are expanding into new doors and opening more Company-owned stores in key locations, including a Skechers store on Fifth Avenue in New York and our second in Times Square. At the close of the quarter, there were 1,210 Skechers stores worldwide, including just over 830 outside the United States. The Company continued its positive sales trend in the third quarter with double-digit gains in our international subsidiary, distributor and joint venture operations, including a triple-digit increase in China. To build our brand during the period, we aired numerous commercials for kids with our animated characters, as well as a new Sugar Ray Leonard Skechers Sport spot, a BOBS from Skechers spot featuring the No. 1 song ‘Riptide’ from Vance Joy, and our Demi Lovato commercial during the excitement over her new single ‘Cool for the Summer,’ among others. Also in the quarter, we signed pop singer Meghan Trainor as our latest global ambassador, and entered a multi-year agreement for the title sponsorship of the Los Angeles Marathon under the Skechers Performance Division. We are looking forward to the holiday season with new commercials starring Demi Lovato, Brooke Burke-Charvet and Kelly Brook, as well as several new Skechers Kids spots. Our marketing and product are on target, and we are continuing to invest in our infrastructure and develop new product innovations to advance our brand and drive momentum around the globe. We believe that this positive momentum will continue to grow across our three main business channels in 2016. We continue to invest in our global business to further gain market share and monetize what we see as a significant long-term opportunity for Skechers.”
Mr. Weinberg added: “Though we believe the sluggish macro domestic retail environment and declining currency in several key markets had an impact on our net sales, the third quarter was still a sales record. We are continuing our retail expansion and plan to open an additional 12 to 17 Company-owned Skechers stores before the end of the year, in addition to the five that have already during October 2015. Along with the 12 Skechers stores already opened through our international distributor and franchise partners this month, another 45 to 55 Skechers stores are also planned through the remainder of the year—which will bring us to more than 1,280 stores by year-end. Given our double digit retail comps, increase in backlogs of approximately 28 percent and market share gains, we believe consumer demand remains strong for our footwear categories worldwide. With the improved efficiencies in our distribution centers and our solid financial position, including, $510.7 million in cash and cash equivalents, the Company is well positioned for continued growth. While we are comfortable with the analysts’ current consensus for fourth quarter revenue and earnings, we see the significant potential in the first quarter of 2016 and the entire year by investing in our product, marketing and infrastructure.”
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,200 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (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 growth, financial results and operations, its development of new products, future demand for its products and growth across the Company’s three main business channels and globally, its planned expansion and opening of new stores, advertising and marketing initiatives, and the conclusion of legal matters. 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 international economic, political and market conditions including the uncertainty of sustained recovery in Europe; 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, 2014 and its quarterly report on Form 10-Q for the quarter ended June 30, 2015. 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 U.S.A., INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
|
|
|
|
|
|
September 30,
2015
|
|
December 31,
2014
|
| ASSETS |
|
|
|
| Current Assets: |
|
|
|
| Cash and cash equivalents |
$ |
510,679 |
|
$ |
466,685 |
| Trade accounts receivable, net |
|
396,428 |
|
|
272,103 |
| Other receivables |
|
15,642 |
|
|
16,510 |
| Total receivables |
|
412,070 |
|
|
288,613 |
| Inventories |
|
500,201 |
|
|
453,837 |
| Prepaid expenses and other current assets |
|
70,865 |
|
|
57,015 |
| Deferred tax assets |
|
18,866 |
|
|
18,864 |
| Total current assets |
|
1,512,681 |
|
|
1,285,014 |
| Property, plant and equipment, net |
|
388,842 |
|
|
373,183 |
| Other assets |
|
39,131 |
|
|
16,721 |
| Total non-current assets |
|
427,973 |
|
|
389,904 |
| TOTAL ASSETS |
$ |
1,940,654 |
|
$ |
1,674,918 |
|
|
|
|
|
|
| LIABILITIES AND EQUITY |
|
|
|
| Current Liabilities: |
|
|
|
| Current installments of long-term borrowings |
$ |
30,565 |
|
$ |
101,407 |
| Accounts payable |
|
407,612 |
|
|
352,815 |
| Short-term borrowings |
|
57 |
|
|
1,810 |
| Accrued expenses |
|
79,881 |
|
|
49,705 |
| Total current liabilities |
|
518,115 |
|
|
505,737 |
| Long-term borrowings, net of current installments |
|
70,147 |
|
|
15,081 |
| Other long-term liabilities |
|
26,901 |
|
|
19,993 |
| Total non-current liabilities |
|
97,048 |
|
|
35,074 |
| Total liabilities |
|
615,163 |
|
|
540,811 |
| Stockholders’ equity: |
|
|
|
| Skechers U.S.A., Inc. equity |
|
1,285,468 |
|
|
1,075,249 |
| Noncontrolling interests |
|
40,023 |
|
|
58,858 |
| Total equity |
|
1,325,491 |
|
|
1,134,107 |
| TOTAL LIABILITIES AND EQUITY |
$ |
1,940,654 |
|
$ |
1,674,918 |
|
|
|
|
|
|
|
SKECHERS U.S.A., INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(In thousands, except per share data)
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
|
2015 |
|
|
2014 |
|
|
|
2015 |
|
|
2014 |
|
| Net sales |
$ |
856,179 |
|
$ |
674,270 |
|
|
$ |
2,424,640 |
|
$ |
1,807,839 |
|
| Cost of sales |
|
469,173 |
|
|
369,772 |
|
|
|
1,330,486 |
|
|
993,563 |
|
| Gross profit |
|
387,006 |
|
|
304,498 |
|
|
|
1,094,154 |
|
|
814,276 |
|
| Royalty income |
|
2,312 |
|
|
2,070 |
|
|
|
7,824 |
|
|
6,928 |
|
|
|
389,318 |
|
|
306,568 |
|
|
|
1,101,978 |
|
|
821,204 |
|
| Operating expenses: |
|
|
|
|
|
| Selling |
|
63,685 |
|
|
50,239 |
|
|
|
177,652 |
|
|
140,820 |
|
| General and administrative |
|
230,048 |
|
|
182,186 |
|
|
|
628,210 |
|
|
504,325 |
|
|
|
293,733 |
|
|
232,425 |
|
|
|
805,862 |
|
|
645,145 |
|
| Earnings from operations |
|
95,585 |
|
|
74,143 |
|
|
|
296,116 |
|
|
176,059 |
|
| Other income (expense): |
|
|
|
|
|
| Interest, net |
|
(2,503 |
) |
|
(2,484 |
) |
|
|
(8,037 |
) |
|
(8,536 |
) |
| Other, net |
|
(3,409 |
) |
|
(3,898 |
) |
|
|
(5,180 |
) |
|
(4,832 |
) |
|
|
(5,912 |
) |
|
(6,382 |
) |
|
|
(13,217 |
) |
|
(13,368 |
) |
| Earnings before income tax expense |
|
89,673 |
|
|
67,761 |
|
|
|
282,899 |
|
|
162,691 |
|
| Income tax expense |
|
15,839 |
|
|
12,682 |
|
|
|
60,342 |
|
|
36,351 |
|
| Net earnings |
|
73,834 |
|
|
55,079 |
|
|
|
222,557 |
|
|
126,340 |
|
| Less: Net earnings attributable to noncontrolling interests |
|
7,232 |
|
|
3,956 |
|
|
|
20,093 |
|
|
9,450 |
|
| Net earnings attributable to Skechers U.S.A., Inc. |
$ |
66,602 |
|
$ |
51,123 |
|
|
$ |
202,464 |
|
$ |
116,890 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
| Basic |
$ |
0.44 |
|
$ |
0.34 |
|
|
$ |
1.33 |
|
$ |
0.77 |
|
| Diluted |
$ |
0.43 |
|
$ |
0.33 |
|
|
$ |
1.31 |
|
$ |
0.77 |
|
|
|
|
|
|
|
| Weighted average shares used in calculating earnings per share attributable to Skechers U.S.A., Inc.: |
|
|
|
|
|
| Basic |
|
152,895 |
|
|
151,882 |
|
|
|
152,677 |
|
|
151,753 |
|
| Diluted |
|
154,477 |
|
|
152,954 |
|
|
|
154,073 |
|
|
152,746 |
|
SKECHERS USA, Inc.
David Weinberg
Chief Operating Officer,
Chief Financial Officer
(310) 318-3100
or
Investor Relations:
Addo Communications, Inc.
Andrew Greenebaum, (310) 829-5400
by | Oct 15, 2015 | Press Release
Oct 15, 2015 • 4:27 pm EDT
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– SKECHERS USA, Inc. (NYSE: SKX), a global leader in footwear, today announced that it will release its third quarter 2015 financial results after market close on Thursday, October 22, 2015. A conference call will be held the same day 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 October 22, 2015, at 7:30 p.m. ET, through November 5, 2015, at 11:59 p.m. ET. To access the replay, dial 877-870-5176 (U.S.) or 858-384-5517 (International) and use passcode: 13621370.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,100 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (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]
by | Oct 15, 2015 | Press Release
Oct 15, 2015 • 2:58 pm EDT
Boxing Legend Sugar Ray Leonard will join Brooke Burke-Charvet and Tommy Lasorda to raise funds for children with special needs and education
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– The SKECHERS Foundation today announced a $1.2 million fundraising goal for the 2015 SKECHERS Pier to Pier Friendship Walk that will take place on Sunday, October 25. Building upon last year’s record-breaking $1.1 million that was raised to support children with special needs and education, celebrities including boxing legend Sugar Ray Leonard will join television host and actress Brooke Burke-Charvet and legendary Hall of Fame baseball manager Tommy Lasorda for the Walk’s opening ceremony celebration, which begins at 9 AM at the Manhattan Beach Pier.
“When we organized the first SKECHERS Pier to Pier Friendship Walk in 2009, I never imagined how large this event could grow and how life-changing it would become for thousands of families,” said SKECHERS president Michael Greenberg. “With the help of our generous sponsors, including presenting sponsor Nickelodeon, it has become the largest walk in Southern California that supports children with special needs and education. It truly warms my heart to see the community join together every year to make a difference and build a better future for our children.”
To help the SKECHERS Foundation reach its $1.2 million fundraising goal, the #P2PSteelSports Selfie Challenge, which raised an additional $25,000 at last year’s Walk, will be returning for the 2015 event. Created by Walk sponsor Steel Sports, the challenge encourages participants to take a selfie photo at the Walk and upload to their Instagram, Facebook or Twitter account with the #P2PSteelSports hashtag. For each photo posted, Steel Sports will make an additional $5 donation towards the Walk’s fundraising total. The challenge begins at 8 AM on the morning of the Walk and participants will have 24 hours to post their photos to receive a donation credit.
Warren Lichtenstein, chairman and CEO of Steel Partners LLC, commented: “We are proud to support the SKECHERS Pier to Pier Friendship Walk with the Steel Sports Selfie Challenge, plus a new hands-on STEM (science, technology, engineering and math) activity that allows children to build their own rockets provided by the real rocket scientists at one of our portfolio companies, Aerojet Rocketdyne. This event is a great way to stimulate children’s interests in space and science in a family-fun environment, while at the same time raising money for an important cause.”
Since its inception in 2009, the SKECHERS Pier to Pier Friendship Walk has raised over $4 million to support education foundations which utilize the funds to upgrade school technology and science labs, improve libraries and music programs, reduce class sizes and help save teachers’ jobs. The Walk also provides critical funding for The Friendship Circle – an organization that assists children with special needs and their families through one-on-one peer mentoring and social recreational programming including field trips, summer camps and music classes.
With more than 11,000 participants attending the 2014 Walk, SKECHERS is anticipating an even larger turnout at the 2015 event. The 3.4-mile route will begin at the Manhattan Beach Pier, traveling to the Hermosa Beach Pier and back. To register or make a donation, visit skechersfriendshipwalk.com or follow us on Facebook (facebook.com/SKECHERSFriendshipWalk) and Twitter (twitter.com/SkechersP2PWalk).
In addition to headlining sponsor Nickelodeon, the SKECHERS Pier to Pier Friendship Walk thanks its sponsors that include: Wells Fargo, Steel Sports, South Bay Vein and Laser Group, The Claudette and Ethan Rickett Care Foundation, Ross, Zappos.com, Tour de Pier, DIRECTV, United Legwear & Undwear Co., Body Glove, Kids Foot Locker, United Legwear, JAKKS Pacific, Marshalls, Cushman & Wakefield, Caskey & Caskey, Siltanen & Partners Advertising, Continental Development, Northrop Grumman, Equinox, Chevron, 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., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. SKECHERS footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,100 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (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 growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion plans for the Company’s European Distribution Center. 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 international economic, political and market conditions including the uncertainty of sustained recovery in Europe; 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, 2014 and its quarterly report on Form 10-Q for the three months ended June 30, 2015. 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 Held, 310.318.3100
by | Oct 1, 2015 | Press Release
Oct 1, 2015 • 8:45 am EDT
Skechers Performance releases a footwear and performance apparel collection, in conjunction with a marketing campaign to promote breast cancer awareness month.
MANHATTAN BEACH, Calif.–(BUSINESS WIRE)– Skechers Performance, a division of SKECHERS USA, Inc. (NYSE:SKX), is thrilled to announce its 2015 partnership with the American Cancer Society to help in the fight to end breast cancer. For the second year in a row, Skechers Performance will launch a month-long marketing program that includes in-store, digital and print executions, as well as the sponsorship of the American Cancer Society Making Strides Against Breast Cancer® walk in San Francisco. To commemorate the partnership, Skechers Performance is releasing a limited edition “Resistance” footwear collection marked with the iconic breast cancer awareness pink ribbon and a limited-edition performance apparel line which will be available in SKECHERS retail stores and online late September 2015.
Skechers Performance Breast Cancer Awareness Collection. (Photo: Business Wire)
“We are proud to partner with American Cancer Society and help their cause in the fight against breast cancer,” said Michael Greenberg, president, SKECHERS USA. “After seeing the success from last year’s campaign, we wanted to continue our support for a second year, and to help build awareness about all the incredible work that American Cancer Society does with their Making Strides initiative.”
“We are grateful for this continued partnership with Skechers Performance Division, and look forward to the impact this will have in raising awareness and revenue as we continue to make a difference in the fight to end breast cancer,” said Daniela Campari, senior vice president, integrated revenue and marketing, American Cancer Society. “Collaborations like this are critical to moving our mission forward and we thank Skechers for their commitment in helping us save lives.”
The Skechers Performance “Resistance” footwear collection includes the Skechers GOrun 4, GOrun Ride 4, GOwalk 3, GOwalk 2 Flash and a boat shoe from Skechers on-the-GO. The 2015 designs incorporate a black, white and charcoal color pallet with the classic pink hue weaved in. Each style also features the pink ribbon detailing on the heel. The performance apparel includes everything you need to get active, with items including the Endurance Seamless Tank, Never Stop Legging, Keep Going Sports Bra and the Hopeful Jacket to name a few. The line is available at SKECHERS retail stores, Skechers.com and at select SKECHERS retail partners through October.
SKECHERS will also launch a register round-up program in participating domestic SKECHERS retail stores to offer customers the opportunity to support the American Cancer by allowing customers to round up their purchase of any item(s) made to the nearest whole dollar to benefit the Making Strides initiative. For the first time, SKECHERS will also launch the register round-up program on e-commerce, allowing customers to similarly round up their final purchase at check out on Skechers.com. The program will launch in stores and online October 1st and run through October 31st.
Finally, Skechers Performance Division is sponsoring the 2015 American Cancer Society Making Strides Against Breast Cancer walk in San Francisco on Saturday, October 24, 2015, at Hellman Hollow Park.
The funds raised for American Cancer Society will support breast cancer research, help provide free information and services, and assist women in need to access mammograms.
To learn more about the American Cancer Society and their fight against breast cancer visit www.cancer.org or call 800.227.2345.
Learn more about Skechers Performance at GOSkechers.com and follow us on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
For more information and/or images, please contact Jolene Abbott at 310.318.3100 x4839 or [email protected].
About the American Cancer Society
The American Cancer Society is a global grassroots force of 2.5 million volunteers saving lives and fighting for every birthday threatened by every cancer in every community. As the largest voluntary health organization, the Society’s efforts have contributed to a 20 percent decline in cancer death rates in the U.S. since 1991, and a 50 percent drop in smoking rates. Thanks in part to our progress, more than 14 million Americans who have had cancer and countless more who have avoided it will celebrate more birthdays this year. We are determined to finish the fight against cancer. We’re finding cures as the nation’s largest private, not-for-profit investor in cancer research, ensuring people facing cancer have the help they need and continuing the fight for access to quality health care, lifesaving screenings, clean air, and more. For more information, to get help, or to join the fight, call us anytime, day or night, at 1-800-227-2345 or visit cancer.org.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,050 Skechers retail stores, and Skechers’ e-commerce website. Skechers manages its international business through a network of global distributors, joint venture partners in Asia, and 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (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, Skechers’ future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion plans for Skechers’ European Distribution Center. 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 international economic, political and market conditions including the uncertainty of sustained recovery in Europe; 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’ annual report on Form 10-K for the year ended December 31, 2014 and its quarterly report on Form 10-Q for the three months ended June 30, 2015. 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.
Jolene Abbott, 310-318-3100 x4839
[email protected]
by | Aug 27, 2015 | Press Release
Aug 27, 2015 • 8:45 am EDT
Global Leader in Performance Footwear Signs Multi-Year Agreement Commencing with the 2016 Skechers Performance Los Angeles Marathon
LOS ANGELES–(BUSINESS WIRE)– LA MARATHON LLC and Skechers Performance, which is a division of Skechers USA, Inc. (NYSE:SKX), today announced a multi-year partnership, with Skechers Performance becoming the official title sponsor of the Los Angeles Marathon. The two Los Angeles-based companies have teamed up for the city’s biggest running event, now the Skechers Performance Los Angeles Marathon, which will be held on Sunday, February 14, 2016. Registration for the race will open on Tuesday, September 1, 2015.
Skechers Performance Los Angeles Marathon Finish Line (Artist Rendering) (Photo: Business Wire)
As title sponsor of the race, Skechers Performance will have a prominent presence at all marathon week activities including the Los Angeles Marathon Health & Fitness Expo, where Skechers Performance will sell official race merchandise featuring the newly created Skechers Performance Los Angeles Marathon event logo. Additionally, Skechers Performance will outfit course volunteers and staff, and provide finishers’ shirts for all runners. Comprehensive and integrated Skechers Performance Los Angeles Marathon marketing and communications initiatives leading up to and during the race will include the Skechers Performance Los Angeles Marathon website (lamarathon.com) and app.
“Partnering with the Los Angeles Marathon is a strategic step forward for our company and the Performance Division,” said Michael Greenberg, president of SKECHERS. “As a Los Angeles-based business, we have always wanted to be a part of this iconic race since we began developing our performance footwear division and we could not be more thrilled to join the Los Angeles Marathon as title sponsor.”
“Much like the City of Los Angeles itself, Skechers is an iconic, global, and stylish brand and we are extremely pleased to announce this new partnership on the Skechers Performance Los Angeles Marathon,” said Tracey Russell, Chief Executive of LA MARATHON LLC. “Skechers has achieved prominence across the global endurance sports market and we look forward to delivering a world-class marathon experience together here in Los Angeles and to collaborating on exciting new initiatives across the U.S. and around the world.”
The Skechers Performance title sponsorship comes on the heels of the historic 30th edition Los Angeles Marathon in 2015. Not only did registration sell out for the third straight year, but the race also played host to the 2015 USA Track & Field Marathon Championships, where top American elite athletes vied for a record prize purse of $150,000. The iconic “Stadium to the Sea” course continues to surge in popularity both nationally and internationally, attracting runners from all 50 states and more than 55 countries all over the world, bringing the race to prominence as one of the five largest marathons in the U.S. and one of the 10 largest worldwide.
The title sponsorship of the Los Angeles Marathon builds upon Skechers Performance’s U.S. marathon portfolio. Currently, the brand serves as the official footwear and apparel sponsor for the Chevron Houston Marathon and sponsors elite marathon runners Meb Keflezighi and Kara Goucher. Meb has raced in several high-profile events wearing Skechers Performance footwear, including his monumental win at the 2014 Boston Marathon racing in his namesake shoe, the Skechers GOmeb Speed 3. Next year, Meb will compete in Los Angeles wearing the new Skechers GOmeb Speed 3 – 2016 at the 2016 U.S. Olympic Team Trials for Men’s and Women’s Marathon on Saturday, February 13, 2016, the day before the Skechers Performance Los Angeles Marathon.
For more information on the 2016 Skechers Performance Los Angeles Marathon, please visit www.lamarathon.com. For additional information on Skechers Performance, please visit www.GOskechers.com or follow the brand on Facebook (facebook.com/SkechersPerformance), Twitter (twitter.com/skechersGO) and Instagram (instagram.com/skechersperformance).
About LA MARATHON LLC
LA MARATHON LLC, a subsidiary of McCourt Global, creates world-class experiences that ignite passion in athletes and connect communities through the transformative power of sport. The Skechers Performance Los Angeles Marathon is among the largest marathons in the country with more than 26,000 participants, thousands of volunteers and hundreds of thousands of spectators. The “Stadium to the Sea” course, starting at Dodger Stadium and finishing near the Santa Monica Pier, is one of the most scenic in the world, taking runners on a tour of Los Angeles past every major landmark. LA MARATHON LLC will host the 2016 Olympic Team Trials for Men’s and Women’s Marathon, awarded by USA Track & Field and the United States Olympic Committee, which will take place in Los Angeles February 13, 2016. For more information, please visit www.lamarathon.com.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of lifestyle footwear for men, women and children, as well as performance footwear for men and women. Skechers footwear is available in the United States and over 120 countries and territories worldwide via department and specialty stores, more than 1,050 Skechers retail stores, and Skechers’ e-commerce website. Skechers manages its international business through a network of global distributors, joint venture partners in Asia, and 12 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan and throughout Europe. For more information, please visit skechers.com and follow us on Facebook (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, Skechers’ future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion plans for Skechers’ European Distribution Center. 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 international economic, political and market conditions including the uncertainty of sustained recovery in Europe; 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’ annual report on Form 10-K for the year ended December 31, 2014 and its quarterly report on Form 10-Q for the three months ended June 30, 2015. 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.
For SKECHERS USA, Inc.
Molly Biddiscombe, 212-796-9826
[email protected]
or
Jolene Abbott, 310-318-3100 x 4839
[email protected]