Skechers Usa Stock Price, News & Analysis

Skechers (NYSE:SKX) announced plans to relocate its European Distribution Center (EDC) to a larger 200,000-square-meter facility in Liège, Belgium. The move, scheduled to begin in 2028, aims to support the brand's strategic expansion across Europe following a 30% sales increase in Q3 2024. The new state-of-the-art facility will be located near Liège Airport and major highways, featuring BREEAM: Excellent certification and renewable energy features. The expansion is expected to increase shipping capacity, improve operational efficiency, and create additional employment opportunities. The EDC serves Skechers' European operations, including e-commerce, retail stores, and third-party retailers.

Skechers achieved record-breaking success at its 16th Pier to Pier Friendship Walk, raising over $3.4 million, surpassing its $2.5 million goal. The event, co-sponsored by Nickelodeon, attracted nearly 22,000 registrants and has now raised more than $27 million in total for children with special needs, public schools, and college scholarships. The funds support the future Friendship Campus, a $55 million facility opening in 2026, offering vocational programs and life skills training. The Walk's proceeds also help reduce class sizes, update school facilities, and provide college scholarships, having donated over $1.1 million in scholarships to date.

Skechers (NYSE:SKX) reported record third quarter 2024 results with sales reaching $2.35 billion, a 15.9% increase year-over-year. Wholesale sales grew 20.6% while Direct-to-Consumer sales increased 9.6%. The company achieved significant regional growth with EMEA up 30%, Americas up 14%, and Asia Pacific up 7%. Diluted earnings per share rose 35.5% to $1.26, with net earnings of $193.2 million. Gross margin was 52.1%, down 80 basis points. The company repurchased $90.0 million of Class A common stock and maintains a positive outlook, projecting full-year 2024 sales between $8.925 and $8.975 billion.

Skechers USA, Inc. (NYSE: SKX), a global footwear leader, has announced it will release its third quarter 2024 financial results after market close on Thursday, October 24, 2024. Following the press release, David Weinberg, Chief Operating Officer, and John Vandemore, Chief Financial Officer, will review the results during a conference call at approximately 4:30 p.m. ET / 1:30 p.m. PT.

The conference call will be broadcast live over the Internet and accessible on the Investor Relations section of the Company's website at investors.skechers.com. For those unable to listen to the live broadcast, a replay will be available at the same location and archived on the site for one year.

My Gym and Skechers have partnered to launch Skechers Kids Month, a September event offering fun activities and giveaways featuring Skechers Hands Free Slip-ins® collection for kids. The event, taking place across My Gym locations in North America, includes:

• Enter-to-win giveaways and prizes
• Exclusive digital coupons and shoe coloring pages
• Curriculum integration with My Gym programs
• Social media promotions
• Wall branding and immersive experiences

The partnership aims to address the challenge of managing shoe changes before and after gym classes, providing an easy solution for parents. This collaboration is expected to boost brand awareness, attract new customers, and create direct connections with families.

Skechers USA, Inc. (NYSE: SKX), a global footwear leader, has announced that its Chief Financial Officer, John Vandemore, will participate in a fireside chat at the Wells Fargo Consumer Conference in Dana Point, CA on September 19, 2024, at 11:00 a.m. PT / 2:00 p.m. ET. The audio of the chat will be available live and on replay for 90 days on the company's investor website.

Skechers, known as The Comfort Technology Company™, designs and markets a wide range of footwear, apparel, and accessories. With products available in 180 countries and territories, Skechers operates through department stores, specialty stores, and approximately 5,200 Skechers retail stores. As a Fortune 500® company, Skechers manages its international business through wholly-owned subsidiaries, joint ventures, and distributors.

Skechers, a global footwear leader, will participate in the Goldman Sachs Global Retailing Conference on September 4, 2024, at 12:55 p.m. PT / 3:55 p.m. ET. John Vandemore, the Company's Chief Financial Officer, will represent Skechers in a fireside chat.

The audio of this chat will be available live and on replay for 90 days on the Company's website at investors.skechers.com.

Skechers, known as The Comfort Technology Company™, designs and markets a wide range of lifestyle and performance footwear, apparel, and accessories in over 180 countries. The company operates around 5,200 retail stores globally and manages its international business through subsidiaries, joint ventures, and distributors.

For more details, visit about.skechers.com or follow the company on social media platforms like Facebook, Instagram, and TikTok.

Petco Love and BOBS® from Skechers® are celebrating National Matchmaker Day on August 31st by recognizing the vital role of adoption coordinators at over 4,000 animal welfare partner shelters across the US. These dedicated staff members, known as Matchmakers, use their expertise to pair adoptable pets with suitable families.

Adoption counselors emphasize the importance of keeping an open mind during the adoption process, as some of the best matches can be unexpected. They encourage potential adopters to look beyond appearances and consider a pet's personality and needs.

In its 25th anniversary year, Petco Love has helped find homes for over 6.9 million pets and invested nearly $400 million in adoption and lifesaving efforts. BOBS® from Skechers® continues to support pet adoptions at shelters, highlighting the important work of Matchmakers nationwide.

Skechers has signed football legend Ruud Gullit as its first ambassador for Benelux. The former Netherlands National Team captain will feature in multi-platform marketing campaigns for Skechers' footwear and apparel collections, starting with Skechers Hands Free Slip-ins®.

Gullit, a two-time World Soccer Player of the Year, expressed his enthusiasm for Skechers' versatile range, comfort, and style. He emphasized the brand's alignment with his values as a former professional footballer and its suitability for various occasions.

Maurice van Berkel, Country Manager of Skechers USA Benelux B.V., highlighted Gullit's charisma and instant connection with fans across the region. This partnership aims to enhance Skechers' brand growth in Benelux, joining other football stars in Skechers' European marketing efforts.