Skechers Usa Inc (SKX) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Skechers Usa Inc
Ticker: SKX CIK: 1065837

Exhibit 99.1

FOR IMMEDIATE RELEASE

Company Contact:

David Weinberg

Chief Operating Officer

John Vandemore

Chief Financial Officer

SKECHERS USA, Inc.

(310) 318-3100

Investor Relations:

Andrew Greenebaum

Addo Investor Relations

(310) 829-5400

Press:

Jennifer Clay

Vice President,

Corporate Communications

SKECHERS USA, Inc.

(310) 318-3100

SKECHERS ANNOUNCES RECORD FOURTH QUARTER SALES OF $1.33 BILLION AND RECORD ANNUAL SALES OF $5.22 BILLION IN 2019

MANHATTAN BEACH, CA. – February 6, 2020 – SKECHERS USA, Inc. (NYSE:SKX), a global footwear leader, today announced financial results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter Highlights

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Record quarterly sales of $1.33 billion, an increase of 23.1 percent

•

Diluted earnings per share of $0.39, an increase of 25.8 percent

•

International sales increased 31.2 percent, or 32.3 percent on a constant currency basis

•

Domestic sales increased 13.0 percent, including an increase of 10.4 percent in domestic wholesale

•

Comparable same store sales increased 9.9 percent, including increases of 10.3 percent domestically and 8.8 percent internationally

•

International sales represented a record 59.3 percent of sales

“2019 was a remarkable year for Skechers as we achieved four quarters of record sales, culminating in annual sales of over $5.2 billion—a significant milestone,” stated Robert Greenberg, chief executive officer of Skechers. “Our mission, as always, is to deliver style, comfort and innovation to the world. Our continued growth along with the 27 product and brand awards we received in 2019 are evidence that we accomplished our goal. 2019 was also the year we saw the resurgence of chunky sneakers—and as an originator in this category, we became a go-to source around the world. We also continued to grow our men’s business, introduced the next generations of our walk, run and golf shoes, and expanded the popular BOBS from Skechers line, helping save the lives of over 345,000 shelter pets in the United States in 2019 alone. We drove recognition of our brand with comprehensive campaigns that included football greats Tony Romo and Howie Long for men, animated commercials for kids, music video style

The following information was filed by Skechers Usa Inc (SKX) on Thursday, February 6, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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