The 16th Skechers Pier to Pier Friendship Walk Raises Over $3.4 Million for Kids

Rhea-AI Summary

Skechers achieved record-breaking success at its 16th Pier to Pier Friendship Walk, raising over $3.4 million, surpassing its $2.5 million goal. The event, co-sponsored by Nickelodeon, attracted nearly 22,000 registrants and has now raised more than $27 million in total for children with special needs, public schools, and college scholarships. The funds support the future Friendship Campus, a $55 million facility opening in 2026, offering vocational programs and life skills training. The Walk's proceeds also help reduce class sizes, update school facilities, and provide college scholarships, having donated over $1.1 million in scholarships to date.

Positive

• Record-breaking fundraising of $3.4M, exceeding $2.5M goal
• Highest-ever attendance with nearly 22,000 registrants
• Total fundraising reached $27M milestone to date
• Contributing to $55M Friendship Campus development

Negative

• None.

Insights

Financial Analyst

The $3.4 million fundraising achievement, while commendable for charitable purposes, has minimal direct financial impact on Skechers' (SKX) bottom line given its $9.4 billion market cap. However, the event's growth and partnership with Nickelodeon demonstrates strong brand value and community engagement, which can positively influence consumer perception and loyalty. The planned $55 million Friendship Campus investment shows long-term commitment to corporate social responsibility, potentially strengthening stakeholder relationships and brand equity. The extensive corporate sponsor list, including major retailers and financial institutions, indicates robust business network capabilities that could benefit future commercial partnerships.

The Skechers Foundation and Presenting Sponsor Nickelodeon partnered with Brooke Burke, Sugar Ray Leonard and nearly 22,000 registrants to support children with special needs and education

LOS ANGELES--(BUSINESS WIRE)-- The 2024 Skechers Pier to Pier Friendship Walk broke all fundraising and attendance records in its 16-year history—blowing past its $2.5 million fundraising goal to raise more than $3.4 million for kids. Together with returning presenting sponsor Nickelodeon, Brooke Burke, Sugar Ray Leonard and nearly 22,000 registrants, last Sunday’s event reached a new Walk milestone—raising more than $27 million to date for children with special needs, public schools and national college scholarships.

Skechers Pier to Pier Friendship Walk co-founder Michael Greenberg celebrates with nearly 22,000 registrants at its largest-ever event for children with special needs and education in Manhattan Beach, CA. (Photo: Business Wire)

“Like so many memorable sweet 16 celebrations, this year was one for the ages—all thanks to our incredible co-sponsor Nickelodeon, generous companies and passionate community,” said Michael Greenberg, co-founder of the Skechers Pier to Pier Friendship Walk. “It takes a village to raise a child—and our village has nurtured this event from an enthusiastic neighborhood movement to one of California’s most impactful walks for youth—one that just keeps getting bigger and having a greater and greater impact on our kids.”

Greenberg continued: “Every year, we take this day to rally for our children—and every other day of the year, they’re experiencing its impact: from building new memories at our thriving Friendship Foundation and public schools, to building dreams as we deliver a new year of scholarships to our talented students and construct our world-class Friendship Campus to transform the lives of young neurodiverse adults. We’re so grateful for Nickelodeon, committed supporters like Kinecta, and the many other companies and thousands of volunteers and families who keep putting our kids first.”

“In all of the years I’ve supported this event, I’ve never seen anything like this. This year’s energy and excitement was on another level,” added Brooke Burke, who joined the Walk for the 13^th time. “It’s really hit a point where every participant is now as deeply engaged and invested in the Walk as its founders. Everyone has seen the incredible good this has done for an entire generation of children, and they’re taking its message to the streets—bringing new friends and families to support this great cause.”

The Skechers Pier to Pier Friendship Walk’s donations support the future Friendship Campus (The Greenberg Family / Skechers Center)—a $55 million, 3.25-acre campus that will offer a life-changing community for friendship and learning. Slated to open its doors in 2026, the facility will include numerous vocational programs including a Creative Arts Center, Culinary Institute, Recreation Center, Life Skills programming, and early education and mentoring opportunities, giving young adults the tools to transition to the workforce and find lifelong passion and purpose.

The Campus will also house the new headquarters for the Friendship Foundation, which offers companionship, celebrates uniqueness and encourages acceptance for all with diverse abilities. The organization offers 60+ in-person programs such as art, music, fitness, sign language, science, social emotional wellness and yoga, as well as pop-up programs like virtual scavenger hunts and talent shows that are free for anyone to attend locally and across the United States.

Academically, Walk funds have enabled public school education foundations to reduce class sizes; update labs, libraries and facilities; and protect teachers’ jobs. The Skechers Foundation’s national college scholarship program also gives a portion of Walk proceeds to students with financial need and proven excellence in academics, athletics and leadership, donating more than $1.1 million in scholarships to date.

The Skechers Pier to Pier Friendship Walk included appearances by Dani Bowman, Abbey Romeo, David Isaacman, Subodh Garg and Jake Woodruff from the show Love on the Spectrum and the cast of Greenwood Grove; performances from Homescool and Raized Wrong; America’s Got Talent Golden Buzzer winner Madison Taylor Baez; and a pet adoption event in partnership with Petco Love and The Lovejoy Foundation.

In addition to Brooke Burke and Sugar Ray Leonard, the Walk has long been supported by many celebrities and athletes, including Mr. T, Amanda Kloots, Tony Romo, Howie Long, Meb Keflezighi, Jimmy Kimmel, Denise Austin, Kelly Brooke, Ellen K, Camila Alves-McConaughey, and dozens of Young Hollywood celebrities from Nickelodeon, Disney, Netflix, Apple TV+ and Hulu, including Logan Shroyer, Lily Brooks O’Briant and more.

The Skechers Pier to Pier Friendship Walk thanks Presenting Sponsor Nickelodeon and all of its sponsors, including Kinecta Federal Credit Union, Rare Beauty, Schwartz Family Foundation, Steel Sports, Mattel, United Legwear & Apparel Co., Stand Strong, Team One, Big 5 Sporting Goods, Petco Love, TJX Companies, Chevron, Bank of America, Ross Stores, Barco, Dakine, Vertra, Fossil Group, KPMG, LA Kings, LA Dodgers, McCarthy, LA Angels, Continental Development, Morgan’s Jewelers, WSS, Top Golf, Turkish Airlines, Beach Cities Health District, Raising Cane’s, Cushman & Wakefield and many more companies dedicated to supporting our children.

Interested participants can learn more about the 2024 Skechers Pier to Pier Friendship Walk and future events at skechersfriendshipwalk.com and on Facebook, X and Instagram.

About Skechers Foundation

Established in 2010 to help children in need, the Skechers Foundation is dedicated to strengthening communities to ensure the health, success and well-being of youth worldwide. We invest in a global network of charitable organizations dedicated to embracing individuals with diverse abilities, improving education, empowering disadvantaged families and providing humanitarian, disaster and economic relief. By supporting millions through our products and services, we aspire to make a valiant effort in creating stronger, self-sufficient individuals for future generations.

About Skechers USA, Inc.

Skechers (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 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500^® company, Skechers 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 and TikTok.

About Nickelodeon

Nickelodeon, now in its 45^th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The brand includes television programming and production in the United States and around the world, plus consumer products, digital, location-based experiences, publishing and feature films. For more information or artwork, visit http://www.nickpress.com. Nickelodeon is a part of Paramount’s (Nasdaq: PARA, PARAA) global portfolio of multimedia entertainment brands.

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 and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; 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, 2023 and its quarterly reports on Form 10-Q in 2024. 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/20241030129923/en/

Media Contact:

Jennifer Clay

SKECHERS U.S.A., Inc.

jennc@skechers.com

(310) 937-1326

Source: Skechers Foundation

FAQ

How much did the 2024 Skechers Pier to Pier Friendship Walk raise?

The 2024 Skechers (SKX) Pier to Pier Friendship Walk raised over $3.4 million, exceeding its $2.5 million fundraising goal.

When will the Skechers Friendship Campus open?

The Skechers (SKX) Friendship Campus, a $55 million facility for vocational programs and life skills training, is scheduled to open in 2026.

How many people attended the 2024 Skechers Pier to Pier Friendship Walk?

The 2024 Skechers (SKX) Pier to Pier Friendship Walk attracted nearly 22,000 registrants, setting a new attendance record.

How much has the Skechers Pier to Pier Friendship Walk raised in total?

The Skechers (SKX) Pier to Pier Friendship Walk has raised more than $27 million to date for children with special needs, public schools, and national college scholarships.