Skechers Usa Stock Price, News & Analysis

Skechers (NYSE:SKX) has launched a new footwear collection in collaboration with John Deere, targeting agricultural professionals, construction workers, outdoor enthusiasts, and children. The Skechers x John Deere collection combines John Deere's heritage with Skechers' innovative comfort technologies, including Skechers Hands Free Slip-ins® Technology, Skechers Arch Fit®, and composite toe protection.

The collection features all-terrain sneakers with Goodyear® Performance Outsoles, waterproof materials, and protective features like nano carbon safety and PORON® XRD metatarsal protection. The children's line includes tractor-inspired designs with S-Lights® and machine washable technology. The new collection is now available at Skechers retail stores, www.skechers.com, and select retailers worldwide.

Skechers has expanded its roster of athletes by signing Los Angeles Sparks forward Rickea Jackson to Team Skechers. Jackson, the WNBA's first-round draft pick, joined after experiencing the brand's signature Comfort That Performs in Skechers Basketball shoes. She expressed enthusiasm about being the first WNBA player to partner with Skechers, praising the comfort and design of their footwear.

Skechers President Michael Greenberg highlighted Jackson's addition to their focused roster of professional basketball athletes, which includes NBA stars like Joel Embiid and Julius Randle. The company introduced the SKX NEXUS™, a low-top court shoe designed for speed, stability, and support, featuring Skechers Move Foam™ and Goodyear® rubber for enhanced traction. Skechers Basketball footwear will be available globally by August 2024.

Skechers (NYSE:SKX) reported record second quarter sales of $2.16 billion, a 7.2% increase year-over-year. Direct-to-Consumer sales grew 9.2% and Wholesale sales grew 5.5%. The company achieved diluted earnings per share of $0.91. Skechers saw growth across all regions: 7% in the Americas, 14% in EMEA, and 2% in Asia Pacific. The company's gross margin improved to 54.9%, up 220 basis points. However, operating margin decreased to 9.6% from 10.8% in the previous year. Skechers' Board authorized a new $1 billion share repurchase program. The company raised its full-year outlook for sales and earnings, now expecting fiscal year 2024 sales between $8.875 and $8.975 billion and diluted EPS between $4.08 and $4.18.

Skechers (NYSE:SKX) has partnered with American beach volleyball pros Andy Benesh and Miles Partain for their debut in Paris. The athletes will compete in Skechers-branded apparel and headwear, including hats, tank tops, and shorts made with innovative performance materials. This marks Skechers' first major involvement in beach volleyball through apparel sponsorship.

The partnership aligns with Skechers' beach-centric roots, as their headquarters is near the Manhattan Beach Open. Benesh and Partain, both accomplished players with notable achievements, expressed enthusiasm for the collaboration, citing Skechers' understanding of beach lifestyle and comfort as key factors. Skechers President Michael Greenberg highlighted the company's commitment to delivering high-performance apparel for elite athletes across various sports.

Skechers has expanded its soccer boot range, bringing Harry Kane's signature boots to the US market. Known for their performance and comfort, these boots are worn by elite players such as Kane and other Premier League stars. The new Skechers Evolution pack includes the lightweight Razor boots and customizable SKX_01 boots, available in both low and high-top versions.

In addition to Elite styles, Skechers plans to introduce entry-level and youth boots to cater to all levels of play. With a growing roster of professional athletes and an expanding global reach, Skechers aims to revolutionize the soccer footwear market.

Boots will be available at Skechers websites, retail stores, and specialty football retailers worldwide.

Skechers has signed West Ham United and Ghana National Team winger Mohammed Kudus to promote its Skechers Football boots. Kudus, nicknamed 'Star Boy,' will be featured in marketing campaigns for Skechers' new Evolution Pack of football boots. The Evolution Pack marks a year since Skechers Football entered the market and aims to expand globally. Kudus has been testing the Skechers Razor boots, known for their agility and comfort. Skechers' roster also includes Harry Kane, who competes in UEFA Euro 2024, among other elite players. Kudus, 23, has a professional debut with Danish club Nordsjælland and has played for Ajax and West Ham United, scoring 17 goals for Ajax and 11 goals for Ghana in international matches. The Evolution Pack includes three Elite styles of boots in various colorways and will expand to include Academy, Youth, and Kids styles.

Skechers (NYSE: SKX), a global footwear leader, will announce its second quarter 2024 financial results on Thursday, July 25, 2024, after market close. The results will be reviewed by COO David Weinberg and CFO John Vandemore during a conference call at 4:30 p.m. ET / 1:30 p.m. PT, accessible via the Investor Relations section of the company's website. A replay of the call will be available online for one year. Skechers, known for its diverse range of lifestyle and performance footwear, apparel, and accessories, operates in 180 countries through various retail channels including approximately 5,200 Skechers stores. The company is a Fortune 500 entity with a significant global footprint managed through subsidiaries, joint ventures, and distributors.

Skechers announced that John Vandemore, CFO, will speak at the Evercore ISI Consumer and Retail Conference on June 11, 2024, at 11:00 a.m. PT / 2:00 p.m. ET. The fireside chat will be accessible live and in replay for 90 days on Skechers' investor website. Skechers, a global leader in footwear and apparel, operates in 180 countries and has around 5,200 retail stores worldwide.

Skechers has surpassed $11 million in donations through its BOBS from Skechers collection, significantly aiding animal welfare since 2015. The funds have supported over 2 million shelter pets, reflecting strong consumer engagement. To celebrate this milestone, Skechers is launching a month-long series of events, including pet adoptions and grant distributions in collaboration with Petco Love. The events feature the Paws for a Cause Design Scholarship, debuting -edition sneaker designs inspired by rescued pets. The initiative has also expanded internationally, supporting animal welfare in the United States, Canada, UK, and Japan. With these efforts, Skechers continues to solidify its commitment to animal welfare and community engagement.