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 fourth quarter sales of $1.32 billion, down 0.5% year-over-year. Domestic wholesale sales increased 1.2%, while China sales surged 29.7%. The company achieved diluted earnings per share of $0.34, benefiting from a one-time tax gain of $0.10 per share. Cash and cash equivalents stood at $1.37 billion. Despite challenges posed by the pandemic, Skechers maintained brand relevance and showcased significant growth in e-commerce.
Skechers is launching a new advertising campaign featuring Tony Romo during the Super Bowl, showcasing its Max Cushioning footwear. The commercial, set to air early in the second quarter, emphasizes comfort and humor in everyday life. This marks Skechers' eighth Super Bowl commercial appearance since 2010, highlighting the brand's strong market presence. Skechers has seen increased consumer demand for comfortable footwear, making this a timely ad campaign. The performance footwear market remains competitive, and Romo's involvement aims to further elevate the brand's visibility among a record-breaking audience.
Skechers has announced a new marketing initiative featuring Las Vegas Raiders coach Jon Gruden, who will lead a national multi-platform campaign for the footwear and apparel brand. This collaboration aims to leverage Gruden's popularity to enhance Skechers' image in the men's market. Skechers targets showcasing the comfort and style of its athletic and casual lines. The company has a history of using sports icons in marketing, with Gruden joining a roster that includes notable figures like Tony Romo and Howie Long.
SKECHERS USA, Inc. (NYSE: SKX) will release its fourth quarter and full-year 2020 financial results after market close on February 4, 2021. A conference call is scheduled for the same day at 4:30 p.m. ET, featuring COO David Weinberg and CFO John Vandemore. Investors can access the call via the Investor Relations section of Skechers' website, with a replay available from 7:30 p.m. ET on the same day to February 18, 2021. Skechers is a global leader in lifestyle and performance footwear, operating over 3,770 retail stores worldwide.
Skechers collaborates with muralist James Goldcrown to launch a new collection in time for Valentine’s Day. The collection features Goldcrown’s iconic heart designs on various footwear including Skechers Uno sneakers, Roadies sneakers, and BOBS slip-ons. Initial styles are available on Skechers.com and will hit retail stores on February 4th, with international availability by Valentine’s Day. The apparel line will follow later this year, extending the collaboration across multiple divisions.
SKECHERS USA, Inc. (NYSE:SKX) has announced that its Chief Financial Officer, John Vandemore, will participate in a fireside chat at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 2, 2020, at 12:00 p.m. PT. The event will be accessible live and replayable for 90 days on the company's investor relations website. SKECHERS continues to expand its diverse range of lifestyle and performance footwear globally, distributing through various retail channels in over 170 countries. The company also highlights the ongoing impact of COVID-19 on its operations.
The Skechers Pier to Pier Friendship Walk, held virtually on October 25, raised over $1.8 million, bringing the total to $15 million since its inception in 2009. The event, aimed at supporting children with special needs and education, featured performances from notable celebrities, including America's Got Talent winner Kodi Lee. Despite challenges posed by COVID-19, the event successfully adapted to a virtual format, highlighting community support and ongoing efforts to provide resources for affected families. More than 17,000 registrants participated, reflecting its significance in California.
The Skechers Pier to Pier Friendship Walk is going virtual this year, aiming to raise $2 million for kids during the COVID-19 pandemic. The event will feature celebrity performances and support from over 100 companies. Michael Greenberg, the founder, emphasized the challenges faced by students and the need for more funding to support educational efforts. With over $13 million raised historically, the event continues its tradition of assisting public schools and scholarship funds for exceptional students. Participants can register online for the October 25 event.
SKECHERS USA, Inc. (NYSE: SKX) is set to release its third quarter 2020 financial results post-market on October 29, 2020. A conference call will follow at 4:30 p.m. ET, featuring COO David Weinberg and CFO John Vandemore. For access, visit the Investor Relations website. A replay will be available from 7:30 p.m. ET on the same day until November 12, 2020. SKECHERS designs and markets footwear globally, with a presence in over 170 countries.
Skechers has donated over 16 million pairs of shoes globally, with a recent batch of 105,000 pairs heading to Lebanon, Romania, and Nicaragua. The company has supported disaster relief efforts in areas affected by wildfires and hurricanes, partnering with Soles4Souls to deliver footwear and essentials to communities in need. Notable distributions include over 52,000 shoes sent to Beirut, with plans to assist economically impacted regions in North America. Skechers continues to address children's footwear needs worldwide through its BOBS initiative.
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