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Skechers U.S.A., Inc. reports developments tied to its footwear and apparel business, including launches across lifestyle, running and basketball categories. Company updates identify products such as Skechers Hands Free Slip-ins, the Skechers AERO Series and SKX Full-Court Press, along with retail and international distribution through stores, e-commerce, subsidiaries, joint ventures and distributors.
Recurring news also covers performance-sport sponsorships, operating and financial results, material agreements, capital-structure disclosures, shareholder matters, risk factors and corporate-status updates following the completed merger that made Skechers an indirect subsidiary of affiliates of investment funds managed by 3G Capital Partners L.P. Intellectual-property litigation involving hands-free footwear technology is framed through the company's product and legal disclosures.
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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.
Skechers USA, Inc. (NYSE: SKX) will release its Q4 and full year 2022 financial results after market close on February 2, 2023. Following the announcement, a conference call with David Weinberg, COO, and John Vandemore, CFO, will be held at 4:30 p.m. ET. This event will be accessible live via the Investor Relations section of the company's website, with a replay available for one year. Skechers markets a diverse range of footwear and apparel globally through a robust retail network.
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.
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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.