MANHATTAN BEACH, Calif.--(BUSINESS WIRE)--After winning the 2014 Company of the Year award from Footwear News and experiencing third quarter 2014 growth that resulted in the Company’s highest quarterly revenues in its history, SKECHERS achieved a new milestone: the opening of the one thousandth SKECHERS retail store.
The far-reaching locations of SKECHERS stores around the world illustrate the extensive global reach of the brand across six continents and more than 75 countries. The Company hit the thousandth store mark with the opening of a new store in Mexico City today, preceded by an additional store opening in Mexico earlier this week and two in California last week.
“When we opened the first SKECHERS retail store almost 20 years ago, it was hard to imagine we’d one day hit this amazing milestone that truly showcases our global reach,” said Michael Greenberg, president of SKECHERS. “Being profitable marketing vehicles, every SKECHERS store is a living, breathing catalog that offers consumers the largest assortment of SKECHERS, and now we’re improving that experience with an omnichannel approach to retail in our domestic market. As a key component of our distribution model, SKECHERS retail stores strategically grow our footprint and combine with marketing to support our wholesale business and build brand awareness worldwide.”
The first SKECHERS retail store opened in 1995 down the street from the Company’s Manhattan Beach, CA, corporate headquarters, and the first international stores opened in 2001 in Paris, London and Tokyo. The Company continued its global expansion, opening in new markets each year, including earlier this year with its first stores in Angola, Algeria, Belarus, Georgia, Latvia, Libya and Romania to be followed by Slovakia, Nepal and Zimbabwe later this year. By the end of 2014, an additional 35-45 SKECHERS stores will open worldwide bringing our total to approximately 1,050 stores. The look and feel of the SKECHERS company-owned and franchisee stores is consistent around the world.
SKECHERS offers an assortment of more than 3,000 lifestyle and performance footwear styles for men, women and kids. The Company raises awareness for its collections through celebrity endorsees that currently include: iconic drummer Ringo Starr, multi-platinum recording artist Demi Lovato, English model and actress Kelly Brook, TV personality Brooke Burke-Charvet, country music star Danielle Bradbery, legendary quarterbacks Joe Montana and Joe Namath, as well as baseball stars Pete Rose and Mariano Rivera. In addition, Boston Marathon winner Meb Keflezighi, elite runner Kara Goucher, and pro golfer Matt Kuchar represent the Skechers Performance Division.
About SKECHERS USA, Inc.
SKECHERS USA, Inc. (NYSE:SKX), based in Manhattan Beach, California, 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 via department and specialty stores, Company-owned SKECHERS retail stores and its e-commerce website, and in over 100 countries and territories through the Company’s international network of subsidiaries in Canada, Brazil, Chile, Japan, and across Europe, as well as through joint ventures in Asia and distributors around the world. For more information, please visit skechers.com, and follow us on Facebook (facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
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, the Company’s future growth, financial results and operations, its development of new products, future demand for its products and growth opportunities, its planned opening of new stores, advertising and marketing initiatives, and the expansion and automation plans for the Company’s European Distribution Center. 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 the resignation of the Company’s former independent registered public accounting firm, and its withdrawal of its audit reports with respect to certain of the Company’s historical financial statements; international, national and local general economic, political and market conditions including the ongoing global economic slowdown and market instability; entry into the highly competitive performance footwear market; 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; 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 the Company’s annual report on Form 10-K for the year ended December 31, 2013, and its Form 10-Q for the quarter ended June 30, 2014. The risks included here are not exhaustive. The Company 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.
