All Skechers articles – Page 3
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News briefs
Skechers opens a superstore in New Jersey
Skechers has opened its biggest East Coast retail destination in New Jersey. The nearly 22,000-square-foot store is on the second floor of The Mills at Jersey Gardens retail center. The superstore features dedicated Skechers Performance and Skechers Work shop-in-shop areas, a 4,000-square-foot dedicated Skechers apparel shop, as well as a ...
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ArticleSkechers performs despite China, supply chain concerns
Net income jumped 23 percent to $121.2 million in the first quarter ended March 31 on 27 percent revenue growth to a record $1.82 billion versus $1.43 billion a year earlier. Skechers’ top and bottom-line gains were accomplished despite a challenging environment in the APAC region and persistent higher unit ...
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News briefs
Skechers appoints a new board member
Skechers has appointed Yolanda Macias to its board. The appointment brings the total number of directors to eight, including five independent members. Macias has been at Cinedigm Entertainment Group since 2013, currently serving as the chief content officer where she oversees global content acquisitions, in addition to digital and physical ...
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News briefs
Skechers signs a collaboration with Martha Stewart
Skechers is partnering with Martha Stewart for a multiplatform commercial and marketing campaign across the U.S. and Canada. She will promote the U.S. footwear company’s Memory Foam and Arch Fit collections. Stewart, an American self-made billionaire, joins a team of Skechers ambassadors including the singer Willie Nelson, fitness gurus and ...
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News briefs
Skechers plans experiential store in metaverse's fashion district
Lifestyle brand Skechers is entering the metaverse. According to a company release, the Californian brand is the first to sign a lease in the fashion district of Decentraland. Michael Greenberg, president of Skechers, states that the new investment helps to explore “creative ways for our brand to engage with new ...
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News briefs
A quarter of Nike shoes in Russia are fakes
Roughly 25 percent of all Nike shoes on the Russian market are fakes, showed a research conducted by the Russian business union Social Consumer Initiative. The share of counterfeit products ranges between 0 and 5 percent for Adidas, Asics, New Balance, Reebok, Puma and Skechers, said Oleg Pavlov, head of ...
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ArticleSkechers sets its sights on metaverse after a record 2021
Skechers revealed plans to seek growth opportunities in the metaverse after posting better-than-expected results in the fourth quarter of 2021 and sales records in every quarter of the year. Revenues in the three months ended Dec. 31 increased by 24.4 percent to $1,648 million, topping analysts expectations by about $100 ...
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ArticleShoe industry marked by IPOs and takeovers in Q4
The footwear industry witnessed further extraordinary finance transactions during the fourth quarter as companies continue to take advantage of the abundant liquidity injected into the financial system by central banks worldwide to shore up the economy after the Covid-19 outbreak last year. Allbirds, the loss-making California-based producer of Wool Runner ...
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ArticleSkechers downsizes its board
Skechers has reduced the size of its board of directors to seven members, following the resignation of four current members and the addition of a new one, Zulema Garcia, who will serve on the company’s audit committee. Garcia spent 24 years at KPMG before joining Herbalife Nutrition as senior vice ...
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News briefs
Skechers extends and expands its credit facility
Skechers has expanded its senior unsecured credit facility from $500 million to $750 million, extending its maturity date from November 2024 to December 2025. It will retain a $250 million accordion feature that allows the company up to $1 billion worth of liquidity. The syndicate of lenders features Bank of ...
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News briefs
Skechers renews eyewear license with Marcolin
Skechers renewed its license agreement with the Italian eyewear manufacturer Marcolin for the design, production and worldwide distribution of sunglasses, optical frames and kids’ eyewear under the name of the American footwear brand. The partnership was extended to Dec. 31, 2024. Corrective eyewear sold under the Skechers brand is available ...
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News briefs
Nike settles with Skechers
Nike and Skechers have reached a settlement at undisclosed conditions of their long-standing legal battle, putting an end to three intellectual property lawsuits after the mediation of a judge for the Central District of California. The dispute started in January 2016, when Nike accused Skechers of using design elements of ...
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ArticleSkechers sees 19% sales gain in Q3, but supply chain woes will stretch into 2022
Skechers saw revenues in the third quarter ended Sept. 30 rise by 19.2 percent to a record $1,551 million, an achievement that the company described as “remarkable” amid supply chain bottlenecks that have constrained sales growth and are seen extending into 2022. At constant currency rates, sales rose by 17.1 ...
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ArticleCasual footwear market fell by 13.1% in 2020
According to a study conducted by Shoe Intelligence in collaboration with Sporting Goods Intelligence, the branded casual footwear market fell by 13.1 percent in terms of invoiced dollars to an estimated level of $18.33 billion in 2020 due to the devastating impact of the Covid-19 pandemic on retailing and demand. ...
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ArticleFootwear stocks weaker in Q3 on profit-taking
Overall, the price of footwear stocks dropped in the third quarter of 2021 compared with the previous three months on profit-taking after the sector had enjoyed a strong rebound in the first half of the year with the re-opening of the economy, following the easing of Covid-19-related restrictions and the ...
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ArticleSkechers adjusts prices to offset higher input costs
Skechers started making price adjustments at the start of this year to counter foreign exchange headwinds and other input cost pressures. It is looking at some other offsets for the recent increases in raw material, transportation and logistics costs, without affecting its “reasonable price” marketing appeal. The company told investors ...
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News briefs
Skechers wins Energy Lights lawsuit
A District Court for the state of Illinois has dismissed with prejudice a proposed class action suit launched by Rikki Guajardo in May 2019. She claimed that her child had suffered pain and burns when Skechers’ Energy Lights sneakers heated up. She accused the company of deceptive trade practices and ...
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News briefs
Skechers commits to $1m donation to Haiti earthquake relief
Skechers is supporting Haiti earthquake relief efforts with a $1 million donation to be given to three charitable organizations: CORE, Hope For Haiti and World Central Kitchen. On Aug. 14, Haiti was hit by a 7.2-magnitude earthquake in which more than 2,100 people have died and over 12,000 injured. ...
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News briefs
Skechers launches kansaïyamamoto limited edition
Skechers launched a limited edition collection inspired by the late iconic Japanese designer Kansai Yamamoto . The Skechers x kansaïyamamoto collection of four fashion sneakers for men and women was launched on July 21, the one-year anniversary of the passing of the designer, in Japan, North America and Europe. ...
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ArticleSkechers’ Q2 sales rise by 127.3%, driven by comfort trends
Skechers reported a 127.3 percent increase in revenues to a record level of $1.66 billion for the second quarter ended June 30, with a growth of 117.5 percent in local currencies. Compared with the second quarter or 2019, the top line grew by 31.7 percent on a reported basis. ...
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