Results for "skechers"

Skechers USA Inc. reported sales in the third quarter jumped 20.5 percent, led by robust gains in the EMEA and Americas regions. However, earnings came in below plan and its full-year outlook was reduced as a sudden improvement in transit times and port throughput caused $50 million of incremental logistics costs.

In a meeting at Morgan Stanley’s Global Sporting Goods Day, ​John Vandemore, Skechers’ CFO, said the company is well-positioned to gain market share in the challenging economic climate and benefitted from major footwear brands reducing their wholesale distribution to emphasize direct-to-consumer growth.

Skechers USA’s sales and earnings topped its guidance in the second quarter, but the company maintained its outlook for the year given escalating macroeconomic headwinds worldwide. David Weinberg, COO, told analysts Skechers expects to have opportunities to gain share should the economy slow. He said, “We do have the opportunity, as in the past, to take advantage of an adverse situation by offering the right product at the right price.”

Starting its 30th year in business, Skechers U.S.A., Inc. reported sales grew 26.8 percent in the first quarter ended March 31 to a new quarterly sales record, boosted by a resurgence in its U.S. wholesale business as product deliveries recovered.

Recently announced as the official footwear sponsor of the 2022 Minto US Open Pickleball Championships, Skechers signed two of the top-ranked players, Tyson McGuffin and Catherine Parenteau.   The two athletes, who have been wearing Skechers Pickleball footwear and Skechers branded apparel on the court, will make their debut as Skechers brand ambassadors on April […]