New Skechers Concept Store Opens in Prague

Rhea-AI Summary

Skechers (SKX) has opened a new flagship store in central Prague on Na Příkopě Street, expanding its retail presence in the Czech Republic. The 596-meter store showcases lifestyle footwear, apparel, and accessories for all ages, featuring dedicated Performance walls and the company's signature comfort technologies.

The location, which sees 120,000 daily visitors, represents Skechers' eighth retail location in the Czech Republic. The company reported a 30% increase in EMEA sales for Q3 2024 compared to the previous year. The store features modern design elements, including LED lighting with renewable EU-manufactured biopolymer materials and a video wall.

Positive

• 30% year-over-year increase in EMEA sales for Q3 2024
• Strategic expansion with 8th retail location in Czech Republic
• High-traffic location with 120,000 daily visitors

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• None.

The Company’s Centrally-Located Retail Destination on Na Příkopě Street will Expand its Presence Among Locals and Tourists in the Czech Republic

PRAGUE--(BUSINESS WIRE)-- Skechers announced that The Comfort Technology Company^® has opened a new flagship store in the center of Prague. Ideally located on the city’s High Street Na Příkopě, the destination offers an extensive offering of footwear, apparel and accessories for the entire family, including Skechers Hands Free Slip-ins^® and Skechers Uno.

Skechers expands its retail presence in central Prague with its new concept store on the city’s popular High Street, Na Příkopě. (Photo: Business Wire)

“Skechers has universally become the brand that consumers look to for style, comfort and value, everywhere they live or travel,” said Michael Greenberg, president of Skechers. “We have had great success expanding our business across Europe, most recently increasing our third quarter 2024 EMEA sales by 30 percent over last year—and see our growing consumer presence in the Czech Republic as an opportunity to build on our strong momentum in the region.”

“Skechers retail destinations are paramount to connecting our signature styles and comfort technologies with millions of consumers. They offer living galleries of our diverse product offering, and it’s a visceral experience to walk in, hold and try on styles for every age,” added Petar Dulić, general manager of Skechers CEE, Kft. “With this central retail store between Old Town and New Town Prague, we offer more accessibility and convenience than ever to locals and tourists.”

Located on a boulevard frequented by 120,000 people daily, the 596-meter store at Na Příkopě 9 showcases the brand’s new and popular lifestyle footwear collections and features dedicated Skechers Performance focal walls, apparel and accessory sections, and products for every age and activity, including fashion, sport, casual, work and children’s styles. Illuminated by natural and LED lighting designed with renewable EU-manufactured biopolymer materials, the mid-century modern space features a large video wall and sleek wraparound lightbox column positioned above a custom feature table, with a modern light fixture integrated above.

From fashion styles to lifestyle product and performance shoes for sport enthusiasts, Skechers’ offering is enhanced with the Company’s signature comfort innovations—including its Skechers Hands Free Slip-ins^® Technology, Massage Fit^® Technology, Skechers Arch Fit^® Technology, Skechers Max Cushioning^® Technology, Skechers Hyper Burst^® Technology, Skechers Air-Cooled Memory Foam^®, Skechers Relaxed Fit^® Technology and Skechers Stretch Fit^® Technology.

There are now eight Skechers retail locations in the Czech Republic, including five additional locations in Prague and stores in Modřice and Ostrava. Consumers can also shop at approximately 5,300 Skechers stores worldwide, Skechers.cz and leading retailers in the region.

About Skechers CEE, Kft. and Skechers U.S.A., Inc.

Skechers CEE, Kft. is a subsidiary of Skechers U.S.A., Inc. (NYSE:SKX), The Comfort Technology Company^® based in Southern California. Skechers designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500^® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook and Instagram.

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and 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,” “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 disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; 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, especially in the highly competitive performance footwear market; 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, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. 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 we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219083809/en/

Media Contact:

Jennifer Clay

SKECHERS U.S.A., Inc.

jennc@skechers.com

(310) 937-1326

Source: Skechers U.S.A., Inc.

FAQ

What was Skechers (SKX) EMEA sales growth in Q3 2024?

Skechers reported a 30% increase in EMEA sales for the third quarter of 2024 compared to the previous year.

How many Skechers retail locations are now in the Czech Republic?

There are now eight Skechers retail locations in the Czech Republic, including six in Prague and stores in Modřice and Ostrava.

What is the size of the new Skechers flagship store in Prague?

The new Skechers flagship store in Prague is 596 meters in size, located on Na Příkopě Street.

How many daily visitors pass by the new SKX Prague store location?

The new Skechers store location on Na Příkopě Street sees approximately 120,000 people passing by daily.