SKECHERS Opens Second Retail Store in Times Square
The Company Capitalizes on One of the World’s Most High-Traffic Destinations with its Revolutionary New Store Design
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)-- SKECHERS USA, Inc. (NYSE:SKX), a global leader in the lifestyle and performance footwear industry, today announced that the Company has opened a flagship store at the front of Times Square, New York City’s most highly visited destination. Located on the famed Bow Tie in the heart of Times Square, the new location will welcome more than 300,000 passersby daily.
The new SKECHERS flagship store in Times Square (Photo: Business Wire)
“This amazing new store is a perfect reflection of our brand’s incredible year,” said Michael Greenberg, president of SKECHERS. “We recently announced our biggest quarter ever, during which our Company-owned store sales increased by more than 20 percent in the third quarter of 2015 as compared to the same period last year. SKECHERS now has more than 1,210 stores worldwide, with more than 500 being Company-owned, and we will continue to expand our retail network to satisfy the increasing number of consumers who are demanding our product.”
Greenberg continued: “As an international brand, we felt we could increase the Company’s success and growth with two SKECHERS retail locations in Times Square – one of the highest-traffic destinations on the planet. This store is a terrific opportunity to double our presence among the hundreds of thousands of tourists and residents who visit this iconic New York destination every day.”
Generously sized with a 2453-square-foot sales floor, the store will be the first of its kind, pairing SKECHERS’ iconic colorful branding with a sleek, modern look. The new modern design includes black granite tiled floors, large-scaled graphics, state-of-the-art audio/video presentations and LED-lit shelves, fixtures and storefront displays. The store will also offer mobile pay options, enabling customers to purchase product throughout the store. And shoppers will find a SKECHERS Performance shop and SKECHERS Kids fun zone as well as a showcase of the full SKECHERS assortment of lifestyle and performance footwear for men, women and children, apparel and accessories.
In addition to SKECHERS’ New York destinations on 5th Avenue and 34th Street, the Company’s retail stores are located in prime tourist locations worldwide, such as Los Angeles’ Hollywood & Highland and Universal CityWalk; San Francisco’s Powell Street; Belfast; Tokyo; Shanghai; and dozens of cities around the world. Currently the second largest athletic footwear company and the #1 kids brand in the world, SKECHERS owns and operates more than 500 retail stores in the United States, Canada, Europe and Asia, with a total store count surpassing 1,210 destinations worldwide.
About SKECHERS USA, Inc.
SKECHERS USA, Inc., 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 and over 120 countries and territories worldwide via department and specialty stores, more than 1,210 SKECHERS retail stores, and the Company’s e-commerce website. The Company manages its international business through a network of global distributors, joint venture partners in Asia, and 13 wholly-owned subsidiaries in Brazil, Canada, Chile, Japan, Latin America and throughout Europe. 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 across the Company’s three main business channels and globally, its planned expansion and opening of new stores, advertising and marketing initiatives, and the expansion 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 international economic, political and market conditions including the uncertainty of sustained recovery in Europe; 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, 2014 and its quarterly report on Form 10-Q for the three months ended June 30, 2015. 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.
SKECHERS USA, Inc.
Jennifer Clay, 310-318-3100
Source: SKECHERS USA, Inc.
Released Oct 28, 2015 • 9:00 am EDT