Skechers Surpasses 3,000-Store Milestone Worldwide
Footwear Company Triples its Retail Presence in Five Years and Launches its Largest Store
MANHATTAN BEACH, Calif.--(BUSINESS WIRE)-- Skechers USA, Inc. (NYSE:SKX), a global footwear leader, announced that the Company has surpassed 3,000 Skechers retail stores worldwide with the opening of a store in Shenyang, China – now the brand’s largest. The latest milestone reflects the growing omni-channel presence of the brand as the Company continues to expand its retail, sales and logistic infrastructure to meet the global market’s growing demands for Skechers footwear.
Skechers crosses the 3,000-retail-store milestone with the Company’s largest in the world – a 32,100-square-foot superstore in Shenyang, China. (Photo: Business Wire)
At more than 32,000 square feet, the Skechers superstore in Shenyang joins a network of similar superstores in North America designed to showcase the brand’s diverse footwear styles for men, women and children with dedicated shop-in-shops for its collections, Skechers Kids entertainment zones, and areas devoted to the brand’s growing line of apparel and accessories.
“Skechers is a brand for the world,” said Michael Greenberg, president of Skechers. “Our product is stylish, affordable, comfortable for every age – and it’s resonating with billions of consumers, thanks to our retail presence and growing investment in areas like China. We sell in more than 170 countries through our extensive network of distributors and joint ventures, and we have many more opportunities to build our retail store business even further and expand our global presence for years to come.”
A living catalog for consumers, Skechers stores are a customer experience showcasing an unparalleled offering of Skechers product outside of the Company’s e-commerce solutions. Its stores are prominent brand-, marketing- and sales-drivers – stylized in the Company’s iconic steel and blue décor, designed with the latest point-of-sale technologies, and inviting shoppers to explore the world of Skechers.
Since opening its 1,000th store in 2014, the Company’s retail store presence has accelerated to reflect its business’ international growth – surpassing 2,000 stores in 2016 and reaching its newest milestone with the Company’s 3,000th destination opening in China. With a population of more than 1.4 billion, China has the largest number of Skechers retail stores at 941, followed by the United States at 472, and India at 222.
To date, there are 690 Company-owned stores, including two opened in the United States in the first quarter – with the remainder as third-party-owned international retail locations such as the recently-opened stores in China, Finland, India, Israel, Netherlands, Pakistan, Russia and Sri Lanka. The Company plans to open 70 to 80 Skechers Company-owned stores and another 500 additional third-party-owned stores in 2019.
Skechers’ retail locations now cover six continents – from high-profile concept stores at New York’s Times Square, Santa Monica Promenade, London’s Covent Garden, Madrid, Lima, Tokyo, Shanghai and hundreds of cities around the world, to superstores in Southern California, Las Vegas, Dallas and Calgary, Canada.
About Skechers U.S.A., 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 3,000 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 and the Middle East, and wholly-owned subsidiaries in Canada, Japan, India, 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 the Company’s annual report on Form 10-K for the year ended December 31, 2017, and its quarterly report on Form 10-Q for the three months ended September 30, 2018. 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.
Source: Skechers U.S.A., Inc.
Released Feb 13, 2019 • 9:00 am EST