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 U.S.A. (NYSE:SKX) reported record quarterly sales of $1.66 billion for Q2 2021, a 127.3% increase year-over-year, and 31.7% over Q2 2019. Domestic Wholesale sales surged 205.7%, while Direct-to-Consumer sales rose 137.8%. The company achieved a gross margin of 51.2% and diluted earnings per share of $0.88, reflecting strong demand for comfort technology products. Despite challenges from COVID-19, Skechers maintained confidence in brand strength and future growth, projecting 2021 sales between $6.15 billion and $6.25 billion.
Skechers announces a limited-edition footwear collaboration with the late Japanese designer Kansai Yamamoto, set to launch on July 21, marking one year since his passing. The Skechers x kansaïyamamoto collection features four sneaker styles inspired by Yamamoto's iconic designs, including traditional kabuki influences. Available in Japan, North America, and Europe, the collection includes Max Cushioning Premier and D’Lites styles. Skechers aims to honor his legacy through creative design and comfort.
SKECHERS USA, Inc. (NYSE: SKX) announced the release of its second quarter 2021 financial results on July 22, 2021, after market close. A conference call with COO David Weinberg and CFO John Vandemore will follow at 4:30 p.m. ET, accessible via the Investor Relations section of their website. A replay will be available from July 22, 2021, at 7:30 p.m. ET until August 5, 2021, at 11:59 p.m. ET. SKECHERS offers a wide range of footwear, apparel, and accessories, operating in over 170 countries through numerous retail and e-commerce channels.
Skechers has launched a new collaboration with Ryan Kaji, the nine-year-old star of "Ryan's World." This partnership marks the first major footwear deal for a kid YouTube star, creating a colorful collection tailored for children. The initial range includes three styles: the light-up Ryan's Challenge, the slip-on Gamer Ryan, and the mid-top Red Titan. This collaboration is expected to appeal to Ryan's vast audience of over 30 million YouTube subscribers. The collection is now available at Skechers retail locations and online.
Skechers has become the official footwear supplier for the 2021 Solheim Cup Teams, marking a first for both the European and U.S. teams. The company's exclusive Skechers GO GOLF Elite 3™ styles will be worn by players, caddies, and support staff during the event at Inverness Club in Toledo, Ohio, from September 4-6. Skechers aims to leverage this partnership to showcase its innovative footwear. The brand has previously outfitted European players and hopes to extend its reach and impact through this collaboration.
SKECHERS USA, Inc. (NYSE:SKX) announced that Chief Financial Officer John Vandemore will engage in virtual fireside chats at three upcoming conferences. The events include:
- Deutsche Bank Global Consumer Conference on June 8, 2021, at 1:00 p.m. ET.
- Stifel Cross Sector Insight Conference on June 10, 2021, at 3:20 p.m. ET.
- Evercore ISI Consumer & Retail Summit on June 17, 2021, at 11:45 a.m. ET.
These discussions aim to provide insights into the company's performance and strategy. Audio of the chats will be available live and for 90 days at investors.skechers.com.
Petco Love and Skechers have joined forces to promote National Foster a Pet Month throughout June 2021, aiming to inspire the public to foster shelter animals and reduce euthanasia rates. As shelter pets continue to face challenges with the reopening of public spaces, fostering remains critical. If just 2% of the 85 million pet-owning households fostered one pet, it could save 800,000 shelter animals. Skechers, through its charitable line BOBS, has contributed over $6.6 million benefiting more than 1.2 million shelter pets. This initiative highlights the ongoing need for home environments for pets awaiting adoption.
SKECHERS USA, Inc. (NYSE:SKX) announced that CFO John Vandemore will participate in a virtual fireside chat at the Morgan Stanley Life After Covid: 2021 Thematic Conference on May 18, 2021, at 12:00 p.m. PT. This chat will provide insights into the company's growth and strategies post-pandemic. The session will be available live and on replay for 90 days at investors.skechers.com. SKECHERS, a leading footwear company, designs and markets a range of products globally through various retail channels.
Elite golfer Brooke Henderson secured her tenth LPGA title at the Hugel-Air Premia LA Open, finishing 16 under par and further establishing her status as Canada's top golfer in LPGA and PGA history. Skechers, the apparel brand she endorses, celebrates her achievement as a pivotal moment for its golf line. Michael Greenberg, president of Skechers, praised Henderson's growth and maturity in her game. As of now, she ranks #5 in the World Golf Rankings and has built a significant brand relationship with Skechers since joining the team in 2016.
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?
