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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 USA, a global footwear leader, announced that CFO John Vandemore will participate in a fireside chat at the UBS Global Consumer & Retail Conference in Boston on March 9, 2022, at 1:00 p.m. ET. The chat will be available live and on replay for 90 days on the company's website. SKECHERS designs and markets a wide range of footwear and accessories, operating retail stores and e-commerce sites across the U.S. and over 180 countries.
Skechers, the Comfort Technology Company™, announces its role as the Official Footwear Sponsor of the US OPEN Pickleball Championships starting April 23 in Naples, FL. The company will launch a new line of pickleball footwear, including the Viper Court shoe, designed for both casual and competitive players, featuring advanced comfort technology. This multi-year partnership includes providing footwear to event volunteers and a booth for fans to experience and purchase products. Skechers aims to capitalize on the growing popularity of pickleball, reinforcing its presence in the performance footwear market.
Skechers has launched a global campaign featuring music legend Willie Nelson during the Super Bowl. The campaign includes two commercials showcasing Nelson's iconic song "On the Road Again" and a humorous take on his advocacy for comfort. Michael Greenberg, president of Skechers, highlights Nelson's broad appeal and genuine personality as key factors for the campaign's impact. This is the ninth time Skechers has advertised during the Super Bowl, emphasizing their leading position in comfort footwear with technologies like Skechers Arch Fit, Max Cushioning, and more.
Skechers reported strong financial results for Q4 and FY 2021, marking significant growth across sales and earnings. Q4 sales reached $1.65 billion, up 24.4% YoY, driven by a 30.3% rise in Direct-to-Consumer and 30.1% in International Wholesale. The company achieved a record annual sales milestone of $6.29 billion, an increase of 36.7% from 2020. Skechers' diluted EPS hit $2.56, boosted by a tax benefit of $346.8 million. A $500 million share repurchase program was authorized to enhance shareholder value. The outlook for Q1 2022 anticipates sales between $1.675 billion and $1.725 billion.
SKECHERS USA, Inc. (NYSE: SKX) will release its fourth quarter and full year 2021 financial results on February 3, 2022, after market close. A conference call, featuring COO David Weinberg and CFO John Vandemore, is scheduled for 4:30 p.m. ET on the same day. Investors can access the call through the Investor Relations section of the company’s website. A replay will be available starting at 7:30 p.m. ET on February 3, 2022, until February 17, 2022.
Skechers has partnered with television personality Amanda Kloots to enhance its brand presence. Kloots, known for her fitness and dance background, will join Skechers' ambassadors in a campaign across North America promoting footwear and apparel. She emphasized the comfort of Skechers products, stating they suit her active lifestyle. Skechers aims to leverage Kloots' popularity to reach a broader audience. This collaboration aligns with the brand's focus on innovative comfort technologies and may strengthen its market position in the competitive footwear industry.
Skechers has transitioned from a third-party distributor to its own operation in the Philippines, establishing Skechers USA Philippines, Inc. This move aims to enhance brand growth in the region. Skechers plans to leverage its lifestyle collections and comfort innovations to tap into the 100 million consumers in the Philippines. The company is setting up new offices, a distribution center, and retail stores, with more openings planned for 2022. This strategic shift underscores Skechers' commitment to expanding its market presence in Southeast Asia.
Skechers USA, Inc. (NYSE:SKX) announced the appointment of Zulema Garcia to its Board of Directors, effective immediately, and the resignation of four board members, reducing the total number of directors to seven. Ms. Garcia, previously with Herbalife and KPMG LLP, will serve on the Audit Committee. CEO Robert Greenberg emphasized the importance of fresh perspectives for the company's strategic plans. The changes come as Skechers aims to maintain its competitive edge in the athletic lifestyle footwear market.
Skechers has launched the x Hoop ’Til It Hurts! charitable line, featuring basketball shoes and slides aimed at supporting children in underserved communities across the U.S. The partnership with Hoop ’Til It Hurts Foundation will enhance youth sports participation and provide funding for athletic apparel and tournament costs. The collection includes styles like Powershot – Skech-Hops, Durox – Skech-Speed, and Gambix X – Skech-Revs, available through various retail channels. This initiative aligns with Skechers' commitment to philanthropy and community support.
Skechers USA, Inc. (NYSE: SKX) announces a partnership with The Nature Conservancy, committing at least $800,000 to support environmental protection efforts. The company launches the Our Planet Matters collection, featuring sustainable products made from recycled materials. This initiative aims to enhance consumer awareness regarding sustainability while also addressing climate change and promoting responsible sourcing practices. Skechers emphasizes its commitment to reducing its carbon footprint through various environmental advancements across its operations.
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