Skechers Celebrates 20 Years on the New York Stock Exchange
05 Junho 2019 - 10:00AM
Business Wire
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 follow
us on Facebook, Instagram, and Twitter.
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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Jennifer ClaySKECHERS USA,
Inc.jennc@skechers.com310.937.1326
Skechers USA (NYSE:SKX)
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