Skechers Usa Stock Price, News & Analysis

Skechers has launched a co-branded footwear collection with Martha Stewart, titled A Day in the Life of Martha, coinciding with International Women’s Day. This Spring 2023 capsule features Stewart's design on Skechers' popular styles like slip-ins, slides, and sandals, aimed at enhancing comfort and style for various occasions. Martha described the collection as having fantastic comfort features and a touch of casual elegance. The partnership, ongoing since 2022, continues to grow, and Skechers anticipates strong demand for this new collection, aligning with Martha's extensive fan base.

Skechers U.S.A., Inc. (NYSE:SKX), a leading global footwear company, announced that Chief Financial Officer John Vandemore will participate in a fireside chat at the Raymond James 44th Annual Institutional Investors Conference. This event will take place in Orlando, FL, on Tuesday, March 7, 2023, at 10:25 a.m. ET. Investors can access the audio of the chat live and on replay for 90 days on the Company's website. Skechers designs and markets a variety of footwear and apparel, with a presence in over 180 countries and numerous retail stores worldwide.

Skechers has partnered with fashion icon Diane von Furstenberg to launch a new footwear and apparel collection, Skechers x DVF, featuring the designer's signature prints and colors. The collaboration emphasizes comfort and style for women on the go. The initial offering includes the Endless Kisses capsule with various sneaker styles and apparel like tees and leggings, all designed for versatility and comfort. The collection is available at select Skechers stores and online. This marks Skechers' first coordinated apparel and footwear collaboration, aiming to attract fashionable consumers globally.

Skechers has announced a multi-year agreement to become the Official Footwear Sponsor of the Carvana Professional Pickleball Association (PPA) Tour starting in 2023. This follows the successful launch of its pickleball program and the positive response to its Skechers Viper Court footwear. The partnership will include activations at PPA events where fans can purchase Skechers products. Notable athletes such as Catherine Parenteau and Tyson McGuffin represent Skechers in competitions. The PPA Tour features 25 events with over $5.5 million in annual prize money, solidifying Skechers' commitment to the fast-growing sport of pickleball.

Skechers has named Nuria Roca as its first local ambassador in Spain. Roca, a well-known TV and radio presenter, will star in campaigns promoting Skechers women’s footwear. Skechers aims to enhance brand visibility in Spain, especially following the opening of a flagship store in Madrid’s Grand Via. Roca expressed her admiration for the brand, emphasizing its versatility and comfort. The campaigns will showcase collections such as Skechers Hands Free Slip-ins® and Skechers Arch Fit®.

This initiative is part of Skechers’ broader marketing strategy, aligning with its international growth objectives.

Skechers U.S.A., Inc. (NYSE:SKX) has been awarded Company of the Year by Footwear Plus for the tenth time, in addition to receiving a similar accolade from Footwear News. The company also won the Excellence in Children’s Design Award for its Skechers Kids line. President Michael Greenberg highlighted 2022 as a remarkable year, celebrating the company's 30th anniversary and its ability to thrive in challenging economic conditions. Innovative products and strong global teamwork are credited for this success. Skechers maintains a diverse product range that continues to captivate consumers globally.

Skechers has partnered with Snoop Dogg for a Super Bowl commercial themed "All Walks of Life – Snoop Style," airing on February 12 in the U.S. and Canada. The 30-second spot features Snoop showcasing Skechers Hands Free Slip-ins and highlights his busy lifestyle, alongside cameos from other Skechers ambassadors. Snoop expressed enthusiasm for the collaboration, emphasizing the brand's commitment to comfort and style for everyone. Skechers has consistently advertised during the Big Game since 2010, showcasing its innovative footwear technologies across multiple markets.

Skechers reported a record quarterly sales of $1.88 billion for Q4 2022, reflecting a 13.5% increase year-over-year. For the full year, sales reached $7.4 billion, an 18% rise from 2021. Direct-to-Consumer sales grew 10.8%, while Wholesale sales surged 15.7%. However, net earnings fell 81.2% to $75.5 million, with diluted EPS at $0.48, down from $2.56 in the previous year. The increase in operating expenses and a 23% drop in China sales due to COVID restrictions were significant challenges. Looking ahead, Skechers targets 2023 sales between $7.75 billion and $8.0 billion.