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Skechers takes a chance in Canada

Skechers Usa, Inc., a global leader in lifestyle footwear, announced on Tuesday that it is going to distribute its product in Canada. In support of its direct distribution in the region, the Company has established the subsidiary Skechers Usa Canada, Inc. with offices and a showroom planned in Toronto. Skechers Usa, Inc., based in Manhattan Beach, California, designs, develops and markets branded footwear for men, women and children.

"We are extremely excited about initiating direct operations in Canada as we see great opportunities to grow our brand across the Canadian provinces," began Larry Remington, president of Skechers Usa's international division. "Already a name well recognized in Canada, we believe we can build our brand identity and increase sales by exporting our business model."

Skechers' latest strategic global move follows the establishment of the Company's direct distribution in the European marketplace, including the United Kingdom, Germany, France, Italy, Switzerland, Spain, Austria and the Benelux region. In line with Skechers' business model, the Company will launch an aggressive marketing campaign focusing on men's and women's print advertisements in key publications and television spots on major networks.

January 18, 2003


Skechers to launch Kids’apparelline

American footwear company Skechers will launch an apparelline for kids by August 2003. This week Skechers announced that Kids Headquarters has been named the licensee for Skechers-branded boys' and girls' activewear and sportswear in the United States. Skechers children's apparel will include outerwear and coordinating headwear, and will be launched for the 2003 back-to-school selling season.

“Skechers Kids apparel is an exciting new ‘growth spurt’ opportunity -- both for our company as well as children who love Skechers footwear,” said Michael Greenberg, president of Skechers USA. He continued: “The new Skechers apparel will enable boys and girls to dress from head to toe in Skechers-branded items as they grow into our adult footwear lines, and is an excellent entree for Skechers into the apparel industry as we look to explore additional apparel licensing avenues among our diverse product lines.”

Under this relationship, Kids Headquarters will design and distribute children's tops and bottoms in denim, woven and knit materials, as well as coordinating outerwear and headwear using select Skechers logos.

Skechers USA is a global leader in the lifestyle footwear industry. Skechers first introduces a Skechers Kids’line in 1997. This line has grown to include approximately 350 boys', girls', toddler and infant shoes, boots, sneakers and casuals. The Company also designs and sells S-Lights, a line of lighted footwear for children.

December 13, 2002


Skechers: Q3 good results, cautious for Q4

Trendy American shoemaker Skechers said this week that third-quarter earnings rose despite weak demand and a slow back-to-school selling period. The company announced its earnings for the quarter were US 14.1 million (GBP 8,9m), or 35 cents per share, compared to US 11.4 million (GBP 7,2m) last year.

Net sales for Skechers, which sells fashionable casual and athletic shoes at lower prices than most major brands, in the quarter fell to US 261.1 million (GBP 165,1m) from US 287.9 million (GBP 182m) last year.

The Manhattan Beach, California-based company, which is presently expanding strongly in Europe, said it "remained enthusiastic" about future growth, but warned that fourth quarter sales will fall short of expectations.

Due to "sluggish consumer spending trends, the strikes in US West Coast Ports and volatile international events", Skechers's president Michael Greenberg expects fourth-quarter sales to range between US 195 million (GBP123m) and US 205 million (GBP 129,6m) instead of the US 214 million (GBP 135,3m) previously forecast.

October 25, 2002