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.
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Petco Love and BOBS from Skechers celebrate 25 years of heartwarming pet adoption stories by awarding 25 grants totaling $500,000 to animal welfare organizations. The 2024 Love Stories campaign recognizes 25 deserving organizations with grants ranging from $10,000 to $100,000. The grand prize winner, Three Little Pitties, received a $100,000 grant, a pair of BOBS footwear, a Petco shopping spree, and a year's supply of Yummers Pet Supply Co. pet products. Petco Love President, Susanne Kogut, highlights the significant roles pets play in enriching the lives of their adopters, sharing inspiring stories like a senior widow who found renewed joy with her adopted cat and a dog who went from being the longest shelter resident to becoming a therapy dog in the court system.
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Skechers returns for the 11th time with a Big Game commercial featuring Mr. T to emphasize the correct spelling of the brand's name. The commercial showcases the convenience of Skechers Hands Free Slip-ins technology while highlighting the iconic 't' in the brand's name. Skechers has a history of notable Big Game commercials, and this year's spot aims to address the common misspelling of the brand's name.
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Skechers U.S.A., Inc. announced record annual sales of $8.00 billion, a year-over-year increase of 7.5%, with diluted earnings per share of $3.49, a year-over-year increase of 46.6%. The company also achieved a record gross margin of 53.1% in the fourth quarter. Direct-to-Consumer sales grew by 24.3% annually and 20.3% in Q4, while Wholesale sales decreased by 8%. Skechers' full-year sales record was attributed to strong global demand, growing consumer base, and strategic partnerships. The company's successful financial results in 2023 reflect a positive outlook for continued growth and expansion in 2024.
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Skechers awarded college students Teeny Nadeau and Maki Shigetani with tuition funds and corporate mentorships for their animal prints. Their designs will be featured in a limited-edition collection in June 2024. The winners' patterns were inspired by their adopted animals, with Nadeau's cat mosaic in honor of her cat Firefly, and Shigetani's 'Bark 'n' Drive' dog mosaic in tribute to her family's dogs. Both students will receive $10,000 college scholarships and one-on-one corporate mentorship sessions with key Skechers design personnel.
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Skechers signs Arsenal and Ukrainian National Team defender Oleksandr Zinchenko to compete in the Skechers Razor football boots, expanding its reach in football. The brand aims to grow its presence in the sport with the launch of the Diamond Ice Pack, featuring a new all-white colorway. Zinchenko praises the performance and comfort of the Razor boot, expressing excitement to work with Skechers. The press release highlights the success of Skechers Football since the signing of Harry Kane and the range of boots available for men and women, including the Razor and SKX_01.
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o9 Solutions, a leading enterprise AI software platform provider, announced that Skechers has selected the o9 Digital Brain platform for integrated business planning within its North America retail operations. The AI-powered platform will enhance Skechers' planning and decision-making to meet consumer demand more efficiently. Skechers' Chief Information Officer, Chris Coye, expressed confidence in the platform's ability to manage inventory flow to domestic stores. Meanwhile, o9 Solutions' CEO, Chakri Gottemukkala, is optimistic about the platform's potential to enhance and accelerate Skechers' planning processes and capabilities across its North America retail business.
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Skechers USA, Inc. (NYSE: SKX) will release its Q4 and full year 2023 financial results on February 1, 2024. The results will be reviewed by COO David Weinberg and CFO John Vandemore during a conference call. The conference call will be broadcast live and accessible on the Investor Relations section of the Company’s website.
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Skechers U.S.A., Inc. to Vigorously Defend Patent Suit Filed by Nike: Skechers announced its intention to defend the patent suit filed by Nike in California federal court, alleging violation of Flyknit patents. The company believes the lawsuit is baseless and an attempt by Nike to stifle legitimate competition. Skechers is confident in its ability to vindicate itself in court.
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Michael Greenberg, president of Skechers, has been named 2023 Person of the Year by Footwear News. This is the second time he has received this honor, with the first being in 2000. Skechers was also named Company of the Year in 2022 and previously in 1998 and 2014.
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The Skechers Pier to Pier Friendship Walk celebrated its 15th anniversary event and raised over $3 million for children with special needs, public education, and scholarships. Since its inception in 2009, the event has raised a total of over $24 million. The walk was supported by Kinecta Federal Credit Union and featured various celebrities and performances.
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FAQ
What is the current stock price of Skechers U.S.A. (SKX)?
The current stock price of Skechers U.S.A. (SKX) is $59.77 as of November 20, 2024.
What is the market cap of Skechers U.S.A. (SKX)?
The market cap of Skechers U.S.A. (SKX) is approximately 9.0B.
What does Skechers U.S.A., Inc. specialize in?
Skechers specializes in designing, developing, and marketing over 3,000 styles of high-performance and lifestyle footwear for men, women, and children.
What are the main product categories of Skechers?
Skechers offers two main product categories: Lifestyle Division (including Skechers Memory Foam and BOBS from Skechers) and Skechers Performance (including Skechers GOrun and Skechers GOwalk).
Who are some of the celebrity endorsers for Skechers?
Celebrity endorsers for Skechers include Ringo Starr, Demi Lovato, Kelly Brook, Brooke Burke-Charvet, Joe Montana, Joe Namath, and Pete Rose.
How does Skechers distribute its products?
Skechers distributes its products through department and specialty stores, athletic and independent retailers, boutiques, and internet retailers.
What additional products does Skechers offer through licensing agreements?
Through licensing agreements, Skechers offers branded apparel, bags, eyewear, and more.
What are the operating segments of Skechers?
Skechers operates through two segments: Wholesale and Direct-to-Consumer, with the Wholesale segment generating the most revenue.
What is the significance of BOBS from Skechers?
BOBS from Skechers is a charity line within the Lifestyle Division, focusing on giving back to the community.
Where is Skechers' revenue primarily generated from?
The majority of Skechers' revenue is generated from its Wholesale segment.
What is Skechers' approach to marketing?
Skechers employs targeted multi-channel marketing strategies to promote its diverse range of high-quality products.
How does Skechers ensure product quality?
Skechers ensures product quality through dedicated employees, extensive research and development, and a commitment to customer satisfaction.
Skechers U.S.A., Inc.
NYSE:SKX
SKX Rankings
SKX Stock Data
9.04B
130.45M
0.81%
96.17%
4.27%
Footwear & Accessories
Footwear, (no Rubber)
United States of America
MANHATTAN BEACH