Skechers Usa Stock Price, News & Analysis

Skechers, known for its comfort technology, is enhancing its presence in Ireland with the launch of a flagship store on Grafton Street, Dublin. This new 929-square-meter store showcases the brand’s diverse footwear and apparel offerings. Skechers aims for $10 billion in annual sales by 2026, continuing its expansion alongside its existing stores in Dublin. The store features innovative technologies such as Skechers Hands Free Slip-ins™ and Skechers Air-Cooled Memory Foam®. This location aims to attract both locals and tourists, driving growth across Ireland and Europe.

Skechers has unveiled a limited-edition footwear collection in collaboration with pop star Ava Max, launching two styles: Roadies Surge and Uno Hi. This partnership evolves from Ava Max's previous promotion of Skechers sneakers, including her 2021 music video featuring D’Lites. The Roadies Surge features a high-top design, while the Uno Hi offers a modern twist on the classic sneaker. Available now at skechers.com and select stores, the collection aims to resonate with fans and sneaker enthusiasts alike.

The Skechers Pier to Pier Friendship Walk has raised over $3 million this year, reaching a total of $21 million to support children with varying abilities. The event featured over 19,000 participants and was supported by various sponsors, including Kinecta Federal Credit Union. Co-founder Michael Greenberg highlighted the impact of funds on children's education and vocational training. The walk also benefits public school education foundations and offers scholarships, contributing nearly $1 million to date.

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.

Skechers (NYSE:SKX) reported record third-quarter sales of $1.88 billion, a 20.5% year-over-year increase, driven by a 26.2% growth in wholesale sales and 11.9% in direct-to-consumer sales. Diluted earnings per share fell to $0.55, down 16.7% from last year. Despite a 280 basis points decline in gross margin to 47.1% due to rising freight costs, the company remains focused on its goal of $10 billion in annual sales by 2026. Skechers repurchased $25 million of common stock and has a remaining buyback authorization of $425.8 million.

Skechers USA has been awarded the 2022 Company of the Year by Footwear News, marking the third time the company has received this honor, previously awarded in 1998 and 2014. The award will be presented at a ceremony on November 30 in New York. Skechers celebrated its 30th anniversary with record sales driven by strong consumer demand. The company aims to achieve $10 billion in annual sales by 2026, bolstered by innovative technologies and a diverse roster of global ambassadors.

The Skechers Pier to Pier Friendship Walk, presented by Kinecta Federal Credit Union, aims to raise $2.5 million for youth with varying abilities and education initiatives this year. The event will feature celebrities such as Brooke Burke and Sugar Ray Leonard and takes place on October 30. Since its inception in 2009, the walk has raised nearly $18 million for children’s causes, including scholarships and support for the Friendship Foundation. The Skechers Foundation is dedicated to improving the lives of youth through various educational and social programs.