Skechers USA, Inc. (NYSE:SKX) rang the NYSE Closing Bell®
yesterday to celebrate its 20th year as a public company—a
milestone that marks its ascent from an up-and-coming footwear brand
into one of the world’s leading athletic lifestyle footwear companies.
In the years since the Company’s initial public offering, Skechers’
annual sales have grown more than tenfold, from $424.6 million in 1999
to $4.64 billion in 2018—with global growth across all sectors of the
brand’s direct-to-consumer and wholesale business.
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Skechers USA, Inc. (NYSE:SKX) celebrates 20 years on the New York Stock Exchange. Skechers President Michael Greenberg, executives and guests ring the NYSE Closing Bell® alongside Jim Byrne, NYSE Head of U.S. Listings. Photo Credit: NYSE
“It’s wonderful to be back on the floor of the stock exchange ringing
the bell for the third time—after going public and returning for our 10th
year as a public company, being here again brings back many memories,”
said Michael Greenberg, president of Skechers. “We’ve had incredible
milestones as a brand—from our first store in Manhattan Beach in 1995,
to our first Times Square store in 1997. The year we reached our first
billion dollars in annual sales in 2005, and when our international
sales became more than half of our total business just a few years ago.
How collections like Twinkle Toes and S-Lights have brought joy to
generations of children. And how we’ve gone from Britney Spears on the
cover of Forbes magazine in Skechers Energy, to a star-studded
line-up of global celebrities and athletic legends telling the world
about our product—including the globally popular Skechers D’Lites and
Skechers GOwalk. It’s been an amazing ride for Skechers, but this is
just our first 20 years as a public company, and there’s so much more to
come.”
Now the #1 brand in walk, work, dress casuals and casual lifestyle
footwear in the United States,* Skechers has grown from its roots as a
utility boot company in 1992 to a globally recognized, award-winning,
multi-billion dollar footwear brand known for comfort, quality,
innovation and style. Through its history, athletes, singers and actors
have all appeared in the brand’s footwear campaigns—from Britney Spears,
Christina Aguilera, Matt Dillon, and Robert Downey Jr. in the Company’s
early years, to newer ambassadors like Camila Cabello, Brooke Burke,
Sugar Ray Leonard and Tony Romo, who appeared in a Skechers Super Bowl
spot earlier this year—along with athletes landing on the podium
including elite runner Meb Keflezighi, and elite golfers Matt Kuchar and
Brooke Henderson. Recent brand milestones include the global resurgence
of the Company’s heritage Skechers D’Lites collection, the 3000th
retail store opening in China, and awards for its GO RUN product, from Runner’s
World’s Editors’ Choice award to Outside magazine’s “Gear of
the Year” honor.
* SportsOneSource, year-end 2018.
About Skechers USA, Inc.
Based in Manhattan Beach, California, Skechers designs, develops and
markets a diverse range of lifestyle footwear for men, women and
children, as well as performance footwear for men and women. Skechers
footwear is available in the United States and over 170 countries and
territories worldwide via department and specialty stores, more than
3,060 Skechers Company-owned and third-party-owned retail stores, and
the Company’s e-commerce websites. The Company manages its international
business through a network of global distributors, joint venture
partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in
Canada, Japan, India, and throughout Europe and Latin America. For more
information, please visit about.skechers.com and
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This announcement contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
without limitation, Skechers’ future domestic and international growth,
financial results and operations including expected net sales and
earnings, its development of new products, future demand for its
products, its planned domestic and international expansion, opening of
new stores and additional expenditures, and advertising and marketing
initiatives. Forward-looking statements can be identified by the use of
forward-looking language such as “believe,” “anticipate,” “expect,”
“estimate,” “intend,” “plan,” “project,” “will be,” “will continue,”
“will result,” “could,” “may,” “might,” or any variations of such words
with similar meanings. Any such statements are subject to risks and
uncertainties that could cause actual results to differ materially from
those projected in forward-looking statements. Factors that might cause
or contribute to such differences include international economic,
political and market conditions including the challenging consumer
retail markets in the United States; sustaining, managing and
forecasting costs and proper inventory levels; losing any significant
customers; decreased demand by industry retailers and cancellation of
order commitments due to the lack of popularity of particular designs
and/or categories of products; maintaining brand image and intense
competition among sellers of footwear for consumers, especially in the
highly competitive performance footwear market; anticipating,
identifying, interpreting or forecasting changes in fashion trends,
consumer demand for the products and the various market factors
described above; sales levels during the spring, back-to-school and
holiday selling seasons; and other factors referenced or incorporated by
reference in Skechers’ annual report on Form 10-K for the year ended
December 31, 2018 and its quarterly report on Form 10-Q for the three
months ended March 31, 2019. The risks included here are not exhaustive.
Skechers operates in a very competitive and rapidly changing
environment. New risks emerge from time to time and the companies cannot
predict all such risk factors, nor can the companies assess the impact
of all such risk factors on their respective businesses or the extent to
which any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Given these risks and uncertainties, you should not place
undue reliance on forward-looking statements as a prediction of actual
results. Moreover, reported results should not be considered an
indication of future performance.
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