All Skechers articles – Page 4
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ArticleSkechers looks to produce in India as Q4 sales jump 14%
Skechers said it is planning to begin production in India, one of its fastest growing markets in the Asia Pacific region. Sales in the country displayed “particular strength” in the fourth quarter of 2022, as the company’s overall top line jumped by 13.5 percent to $1,878.8 million billion to reach ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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Skechers opens a flagship store in Ireland
Skechers has opened a flagship store on Dublin’s Grafton Street. In addition to the Henry Street concept store and four other retail outlets in the greater Dublin area, the new 929 sqm location is designed to showcase Skechers’ extensive range and technologies in one of Ireland’s busiest neighborhoods and expand ...
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Skechers escorts Kanye West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
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ArticleSkechers cuts Q4 outlook as Q3 net dips
Skechers, impacted by $50 million in incremental freight and logistics costs and elevated operating expenses, reported a 17 percent decline in third-quarter profit to $85.9 million from $103.1 million for the period ended Sept. 30. Operating expenses were nearly 20 percent higher at $754.0 million, and gross margin was down ...
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Skechers sues Hermès for alleged patent infringement
Skechers USA has sued Hermès International and Hermès of Paris for alleged patent infringement of its proprietary Massage Fit sole technology. The lawsuit was filed on Oct. 18 in the United States District Court for the Southern District of New York in Manhattan. In 2022, Hermès introduced two footwear ...
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ArticleStocks of Brazilian footwear manufacturers outperform in Q3
In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. But, the figure conceals noticeable disparities between the panel’s subsegments. The cohort of ...
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News briefs
Skechers picks Myleene Klass as brand ambassador
Skeckers has signed on the musician, presenter and entrepreneur Myleene Klass as ambassador for the brand’s footwear and apparel offering across the U.K. and Ireland.
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ArticleSkechers adopts cautious H2 outlook, plans further distribution center investments
Skechers – citing currency impacts, persistent supply chain woes, a slower pace of recovery in China, and an overall uncertain global economic environment – is taking a “cautious view” for the remainder of 2022 after reporting record quarterly revenues. Describing a volatile supply chain environment over the last 4 to ...
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ArticleFootwear stocks track global markets lower in Q2
In the second quarter of 2022, footwear stocks declined significantly in line with global markets, which suffered their strongest pullback in decades. In the U.S., the S&P 500 index posted its worst performance in the first half of the year since 1970. Global markets were hit by raising inflation, a ...
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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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Skechers 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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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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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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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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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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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 ...
