Skechers Usa Stock Price, News & Analysis

The Pro Pickleball Association (PPA) Tour is set to showcase professional pickleball on CBS, Paramount+, and CBS Sports Network with a live broadcast of the Skechers Invitational Summer Championship on August 13, 2022. This event marks a significant partnership between CBS Sports and the PPA, aimed at enhancing the visibility of pickleball, which has gained immense popularity in the U.S. with 4.8 million active players. The tournament will feature top-ranked players at the prestigious Riviera Country Club.

The Pro Pickleball Association (PPA) Tour has announced a multi-year deal with CBS Sports to broadcast select tournaments, including the Skechers Invitational Summer Championship at the Riviera Country Club.

This event will be aired live on CBS from August 13, 2022, and streamed on Paramount+. The partnership aims to elevate pickleball's visibility, with an estimated 4.8 million active players in the U.S. showcasing their skills in a celebrity-studded event, confirming pickleball's status as a rapidly growing sport.

Skechers U.S.A. (NYSE:SKX) reported a record $1.87 billion in sales for Q2 2022, up 12.4% year-over-year. Wholesale sales surged 18.3%, while direct-to-consumer sales grew 4.3%. However, diluted earnings per share fell to $0.58, a 34.1% decrease from the previous year. Gross profit was $897.6 million with a gross margin of 48.1%, down 330 basis points. Operating expenses rose to $743.4 million. Despite macroeconomic challenges, Skechers remains optimistic about future growth, projecting Q3 sales between $1.80 billion and $1.85 billion and full-year sales between $7.2 billion and $7.4 billion.

Skechers celebrates a significant milestone as elite golfer Brooke Henderson secures her second major championship victory at the Amundi Evian Championship in France, wearing Skechers GO GOLF footwear. Henderson's outstanding performance, including back-to-back 64s, led her to finish 17 under par, winning by a single stroke. This victory marks her 12th professional title and elevates her to #2 in the Race to CME Globe standings. Skechers' president, Michael Greenberg, praised Henderson's achievements, noting the brand's commitment to excellence in golf footwear.

Skechers has announced a collaboration with tokidoki, launching a new footwear collection today. This partnership showcases a range of vibrant women’s sneakers featuring popular tokidoki characters and designs. The initial drop includes four styles, notably the Skechers Uno sneakers and Sunny Street joggers, available at select stores and online. Skechers aims to attract fashion-forward consumers while expanding its audience through this creative collaboration.

Skechers USA, Inc. (NYSE: SKX) is set to release its Q2 2022 financial results after market close on July 26, 2022. The announcement will be followed by a conference call at approximately 4:30 p.m. ET, hosted by COO David Weinberg and CFO John Vandemore. Investors can access the live broadcast via the Investor Relations section of the company’s website. A replay will be available for one year.

Skechers has opened its largest retail store on the East Coast at The Mills at Jersey Gardens, New Jersey. The new nearly 22,000-square-foot superstore showcases a wide range of footwear and apparel, including dedicated shop-in-shop areas for Skechers Performance and Skechers Work. This expansion aims to meet growing consumer demand and features eco-friendly designs, as well as the latest comfort technologies. With more than 540 stores in the U.S. and a significant international presence, Skechers continues to enhance its market position amid a competitive landscape.

Skechers USA Ltd., a subsidiary of Skechers USA, Inc., has been awarded Men’s Footwear Brand of the Year at the Drapers Footwear Awards 2022, marking its second consecutive win. The award recognizes Skechers for its strong sales growth and adaptability to diverse consumer preferences in the challenging menswear market. Managing Director Peter Youell and COO David Weinberg emphasized the company's investments in product development and marketing strategies that have driven success across the UK and Europe. Skechers' notable partnerships and comfort technologies were also highlighted.

Matt Fitzpatrick achieved a significant milestone by winning his first major golf championship at the 122^nd U.S. Open, wearing Skechers GO GOLF Pro 5 Hyper™ footwear. He finished 6 under par, edging out competitors by one stroke. Fitzpatrick is the second golfer to secure both the U.S. Amateur and U.S. Open at the same venue, The Country Club. Skechers views this victory as valuable exposure for its brand, highlighting the performance and comfort of its footwear. Fitzpatrick's successful career includes seven European Tour wins and a current ranking of #10 in the World Golf Rankings.