Welcome to our dedicated page for Skechers U.S.A. news (Ticker: SKX), a resource for investors and traders seeking the latest updates and insights on Skechers U.S.A. stock.
Skechers U.S.A., Inc. (symbol: SKX) is a global leader in the high-performance and lifestyle footwear industry, boasting a two-billion-dollar market presence. The company designs, develops, and markets over 3,000 styles catering to men, women, and children. Skechers' achievements are deeply rooted in its dedicated employees, high-quality and diverse product offerings, and extensive domestic and international distribution channels. The company's success is further amplified by its targeted multi-channel marketing strategies.
Skechers operates through two main footwear categories:
- Lifestyle Division: This includes popular lines like Skechers Memory Foam and BOBS from Skechers, a charity initiative.
- Skechers Performance: Featuring the well-known Skechers GOrun and Skechers GOwalk footwear, designed for athletic and casual wear.
In addition to footwear, Skechers has expanded its brand through licensing agreements to offer a wide range of products, including apparel, bags, eyewear, and more. The company's products are available through various sales channels such as department and specialty stores, athletic and independent retailers, boutiques, and internet retailers.
Endorsements from celebrities like Ringo Starr, Demi Lovato, Kelly Brook, Brooke Burke-Charvet, Joe Montana, Joe Namath, and Pete Rose bolster the brand's appeal and visibility in the market.
Skechers' operations are divided into two segments: Wholesale and Direct-to-Consumer, with the Wholesale segment generating the maximum revenue. This strategic segmentation allows the company to efficiently manage its vast array of products and distribution channels.
With continuous innovation and expansion, Skechers remains a significant player in the global footwear market, known for its commitment to quality and customer satisfaction.
Skechers has partnered with fashion icon Diane von Furstenberg to launch a new footwear and apparel collection, Skechers x DVF, featuring the designer's signature prints and colors. The collaboration emphasizes comfort and style for women on the go. The initial offering includes the Endless Kisses capsule with various sneaker styles and apparel like tees and leggings, all designed for versatility and comfort. The collection is available at select Skechers stores and online. This marks Skechers' first coordinated apparel and footwear collaboration, aiming to attract fashionable consumers globally.
Skechers has announced a multi-year agreement to become the Official Footwear Sponsor of the Carvana Professional Pickleball Association (PPA) Tour starting in 2023. This follows the successful launch of its pickleball program and the positive response to its Skechers Viper Court footwear. The partnership will include activations at PPA events where fans can purchase Skechers products. Notable athletes such as Catherine Parenteau and Tyson McGuffin represent Skechers in competitions. The PPA Tour features 25 events with over $5.5 million in annual prize money, solidifying Skechers' commitment to the fast-growing sport of pickleball.
Skechers has named Nuria Roca as its first local ambassador in Spain. Roca, a well-known TV and radio presenter, will star in campaigns promoting Skechers women’s footwear. Skechers aims to enhance brand visibility in Spain, especially following the opening of a flagship store in Madrid’s Grand Via. Roca expressed her admiration for the brand, emphasizing its versatility and comfort. The campaigns will showcase collections such as Skechers Hands Free Slip-ins® and Skechers Arch Fit®.
This initiative is part of Skechers’ broader marketing strategy, aligning with its international growth objectives.
Skechers U.S.A., Inc. (NYSE:SKX) has been awarded Company of the Year by Footwear Plus for the tenth time, in addition to receiving a similar accolade from Footwear News. The company also won the Excellence in Children’s Design Award for its Skechers Kids line. President Michael Greenberg highlighted 2022 as a remarkable year, celebrating the company's 30th anniversary and its ability to thrive in challenging economic conditions. Innovative products and strong global teamwork are credited for this success. Skechers maintains a diverse product range that continues to captivate consumers globally.
Skechers has partnered with Snoop Dogg for a Super Bowl commercial themed "All Walks of Life – Snoop Style," airing on February 12 in the U.S. and Canada. The 30-second spot features Snoop showcasing Skechers Hands Free Slip-ins and highlights his busy lifestyle, alongside cameos from other Skechers ambassadors. Snoop expressed enthusiasm for the collaboration, emphasizing the brand's commitment to comfort and style for everyone. Skechers has consistently advertised during the Big Game since 2010, showcasing its innovative footwear technologies across multiple markets.
Skechers reported a record quarterly sales of $1.88 billion for Q4 2022, reflecting a 13.5% increase year-over-year. For the full year, sales reached $7.4 billion, an 18% rise from 2021. Direct-to-Consumer sales grew 10.8%, while Wholesale sales surged 15.7%. However, net earnings fell 81.2% to $75.5 million, with diluted EPS at $0.48, down from $2.56 in the previous year. The increase in operating expenses and a 23% drop in China sales due to COVID restrictions were significant challenges. Looking ahead, Skechers targets 2023 sales between $7.75 billion and $8.0 billion.
Skechers USA, Inc. (NYSE: SKX) will release its Q4 and full year 2022 financial results after market close on February 2, 2023. Following the announcement, a conference call with David Weinberg, COO, and John Vandemore, CFO, will be held at 4:30 p.m. ET. This event will be accessible live via the Investor Relations section of the company's website, with a replay available for one year. Skechers markets a diverse range of footwear and apparel globally through a robust retail network.
Skechers, known for its comfort technology, is enhancing its presence in
FAQ
What is the current stock price of Skechers U.S.A. (SKX)?
What is the market cap of Skechers U.S.A. (SKX)?
What does Skechers U.S.A., Inc. specialize in?
What are the main product categories of Skechers?
Who are some of the celebrity endorsers for Skechers?
How does Skechers distribute its products?
What additional products does Skechers offer through licensing agreements?
What are the operating segments of Skechers?
What is the significance of BOBS from Skechers?
Where is Skechers' revenue primarily generated from?
What is Skechers' approach to marketing?
How does Skechers ensure product quality?
