Skechers news and archive

European Commission approves Skechers acquisition by 3G Capital

Investment firm 3G Capital Partners LP (3G Capital) has been granted approval to acquire the American footwear brand Skechers. The European Commission announced this in a press release on Tuesday, July 1. Although both companies operate from the US, their activities in the European market require approval from the European Commission. Skechers...

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Skechers secures FTC approval for takeover, faces lawsuit from investor

Footwear brand Skechers has received antitrust clearance from the US’ Federal Trade Commission (FTC) for its privatisation deal with 3G Capital. The global investment firm announced its proposed 9.4 billion dollar takeover of Skechers in early May, at which time it had already secured approval for the transaction by the brand’s board of...

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NBA and Skechers collaborate to launch season two of Hoop Nation docuseries in India

The National Basketball Association (NBA) in collaboration with Skechers, a global performance and lifestyle footwear and apparel brand, today announced the launch of the second season of “Hoop Nation,” a four-part lyrical docuseries showcasing inspiring basketball stories from across India. Skechers is serving as Presenting Partner of the...

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Skechers and NBA partner for a docuseries on Indian basketball

The National Basketball Association (NBA) and Skechers, a global footwear and apparel brand, announced the launch of the second season of “Hoop Nation.” This four-part lyrical docuseries is set to showcase inspiring basketball stories from various parts of India. Skechers is serving as the presenting partner for the docuseries, which is now...

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Skechers signs Bollywood star Kartik Aaryan as newest brand ambassador for India

Skechers, The Comfort Technology Company®, announced that Bollywood superstar Kartik Aaryan has signed on as its newest brand ambassador for India. The award-winning actor will first appear in a marketing campaign supporting the brand’s signature Skechers Hands Free Slip-ins® footwear. Speaking on the association, Rahul Vira, CEO of Skechers...

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JPMorgan reportedly raises 6.5 billion dollar to fund sale of Skechers

Finance firm JPMorgan Chase & Co. is believed to have prepared for a 6.5 billion dollar debt offering in support of 3G Capital’s impending purchase of footwear brand Skechers. According to a source for Bloomberg, the debt sale could take place as soon as this week. The media outlet, which noted that a representative of the US corporation had...

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Skechers to be acquired by 3G Capital in 9.4 billion dollars deal

In a significant development in the footwear industry, Skechers U.S.A., Inc. has announced its agreement to be acquired by global investment firm 3G Capital for approximately 9.4 billion dollars. The transaction, unanimously approved by Skechers' board of directors, will transition the company from a public to a privately held entity. Commenting...

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Skechers Q1 sales up, withdraws guidance due to economic uncertainty

Sportswear company Skechers announced its first quarter 2025 financial results, reporting sales of 2.41 billion dollars, a 7.1 percent increase driven by a 7.2 percent increase internationally and a 6.9 percent increase domestically. However, due to macroeconomic uncertainty, Skechers is withdrawing its annual 2025 financial guidance. CEO Robert...

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Skechers Q1 guidance falls short of analyst estimates despite strong Q4

Footwear company Skechers sales of 2.21 billion dollars for the fourth quarter of FY24, increased 12.8 percent meeting Wall Street estimates of 2.22 billion dollars. However, their first-quarter fiscal year 2025 revenue guidance of 2.42 billion dollars fell 2.6 percent short of analysts' expectations. Skechers posts strong Q4 results The company...

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Skechers opens world's first Performance Flagship store in Canada

Footwear and apparel brand Skechers has opened its first-ever Performance store in Canada. A new retail format offering customers an immersive experience, the store includes half-courts where customers can try out the brand’s latest products across several categories, including basketball, running, golf, soccer, and pickleball. An experiential...

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Skechers wins patent case against L.L. Bean

American companies Skechers USA Inc. and L.L. Bean have reached a settlement in a patent lawsuit. Under a court order issued on December 26, 2024 by Judge Margaret Garnett of the US District Court for the Southern District of New York, L.L. Bean has agreed to cease and desist from manufacturing, importing and selling a line of shoes that...

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Skechers reports strong growth in Q3 sales and earnings

Skechers reported third quarter sales of 2.35 billion dollars, a 15.9 percent increase over the same period last year. For the fourth quarter, the company expects to achieve sales between 2.165 and 2.215 billion dollars and diluted earnings per share of between 70 cents and 75 cents. For fiscal 2024, Skechers expects sales to be between 8.925...