Shares of Britney’s favorite brand plunged 21.4% to close at $6.74 on Friday after the fashion footwear company reported sharp declines in sales in the second quarter and a loss of over $2 million compared to profits of over $21 million in the year-ago p
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Skechers Sales Continue to Slide Further; Posts Q2 Loss
Skechers USA, Inc. announced net sales for the second quarter of 2003 decreased 10.7% to $229.3 million compared to $256.7 million in the second quarter of 2002. The net loss for Q2 was $2.1 million versus earnings of $21.3 million in the second quarter
Skechers, Spears Settle Disputes…
Pop diva Britney Spears and Skechers USA have settled their respective actions against each other in a deal approved last week by a federal judge in Los Angeles.
The terms of the settlement deal were not revealed…
Skechers (Q1 Report Week 0317)
- Domestic (wholesale) sales were $147 mm vs. $185 mm in Q1 2002, declining to 71% of total sales from 76% in the year-ago quarter.
- Expect to open 25-30 new doors in 2003, six of which have been opened to date.
- Expect Q2 sales to be $200 mm
Skechers Q1 Profits Plummet on Lower Sales, Higher Inventories
Skechers USA, Inc. reported net sales for the first quarter of 2003 totaled $208.6 million compared to $244.9 million in the first quarter of 2002. Net earnings for the quarter were $8.5 million versus $20.3 million in the first quarter of the prior year.
Skechers Signs Men’s Apparel License Deal
Skechers USA, Inc. announced that Garson International has been named the licensee for Skechers men's outerwear in the United States. Under the licensing agreement, Garson International will design, distribute and market Skechers Collection men'
Skechers Counter-Sues Britney Spears
Skechers USA, Inc. has filed suit against singer Britney Spears and her companies, Britney Brands, Inc. and Britney Touring, Inc. for fraud and breach of contract. The suit, which was filed in federal court in Los Angeles, also charges Ms. Spears with unj
Skechers on the Back Side of the Curve…
Skechers USA saw shares plunge 18.4% for the week after the company surprised the market — and the industry — with projections for Q1, which show a dramatic slowdown to their business…
Skechers Ends Year with Q4 Loss; Sales Down 15.6%
Skechers USA, Inc. reported fiscal year 2002 net sales slipped 1.8% to $943.6 million, compared to net sales of $960.4 million in 2001. Net earnings for 2002 were $47.0 million, flat to 2001. Net sales for the fourth quarter of 2002 were $180.8 million c
Skechers Assumes Canada Distribution
Skechers USA, Inc. announced that effective immediately it is assuming the distribution of its product in Canada…
Britney Sues Skechers Over Skate Shoe Deal
Looks like Skechers’ foray into roller skates is coming back to haunt the fashion footwear company yet again. Seems Britney Spears has sued the company for more than $1.5 million, citing breach of agreement, claiming Skechers USA, Inc. used her to plug i
Report: Inflation Likely to Restrain Sales on Black Friday/Cyber Monday
A recent YouGov report report found that U.S. consumers expect to spend less during these iconic shopping days, with 27 percent planning to spend less and just 9 percent increasing their spend from last year.
EXEC: Piper Sandler Survey Finds Adidas, Hoka, On, New Balance and Ugg Gaining Teen’s Attention
Piper Sandler’s 48th semi-annual Taking Stock With Teens Survey for Fall 2024 latest teen survey found Nike, Lululemon, Converse and Crocs highly popular but losing mindshare. Adidas, Hoka, On, New Balance and Ugg have gained in popularity.
EXEC: Footwear Retailers Score Winning Fiscal Q2; BTS Had Solid Start
SGB Media wraps up the fiscal second quarter for footwear sales, as retailers generally delivered a healthy performance across the specialty, family footwear, and sporting goods space—with many helped by strength in athletic brands and a good start to back-to-school selling.
EXEC: Nike and Adidas’ China Retail Partner Warns of Fiscal H1 Sales and Profit Decline
The company, which also manages retail operations in China for other “non-principal” brands, including Puma, Converse, Vans, The North Face, Timberland, Asics, Hoka, Skechers, the NBA, and other brand partners, reported that H1 profit is expected to decrease 35 percent year-over-year.
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