Skechers Issues Statement on Kanye West Unauthorized Visit

Rhea-AI Summary

Skechers USA, Inc. (NYSE:SKX) reported that Kanye West arrived uninvited at their Los Angeles corporate office, engaging in unauthorized filming. The company quickly escorted him out and stated that they have no intention of collaborating with him, condemning his recent divisive remarks and intolerance towards hate speech. Skechers emphasizes that West's visit was unplanned and unauthorized, reaffirming their commitment to company values.

Positive

• None.

Negative

• Kanye West's uninvited appearance may create potential reputational risk for the brand.
• Skechers had to publicly address the incident, diverting attention from core business activities.

LOS ANGELES--(BUSINESS WIRE)-- Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™, stated Kanye West – also referred to as Ye – arrived unannounced and without invitation at one of Skechers’ corporate offices in Los Angeles. Considering Ye was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation. Skechers is not considering and has no intention of working with West. We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech. The Company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices.

About Skechers USA, Inc.

Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™, based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in over 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and 4,458 Company- and third-party-owned physical retail stores. The Company manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation around the world, the challenging consumer retail markets in the United States and the impact of Russia’s recent invasion of Ukraine; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2021 and its quarterly reports on Form 10-Q in 2022. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026006074/en/

Jennifer Clay

SKECHERS USA, Inc.

jennc@skechers.com

(310) 937-1326

Source: Skechers USA, Inc.

FAQ

What happened when Kanye West visited Skechers?

Kanye West arrived unannounced at Skechers' corporate offices, engaged in unauthorized filming, and was escorted out by executives.

Does Skechers plan to work with Kanye West?

No, Skechers has stated they have no intention of collaborating with Kanye West.

What is Skechers' position on hate speech?

Skechers condemns hate speech and divisive remarks, as emphasized in their recent communication.

What stock symbol does Skechers use?

Skechers is traded under the stock symbol SKX on the NYSE.

How does Skechers address unauthorized visits?

Skechers has a protocol in place to escort unauthorized visitors from their corporate premises.