Skechers news and archive

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...

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Skechers reports strong Q2 results, sales increase by 7.2 percent

Second quarter sales at Skechers increased 7.2 percent to 2.16 billion dollars as a result of a 6.9 percent increase internationally and a 7.7 percent increase domestically. On a constant currency basis, sales increased 8.7 percent. For the third quarter of 2024, the company expects to achieve sales between 2.30 and 2.35 billion dollars and...

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Skechers expands legwear distribution deal to the UK and Europe

Footwear and apparel brand Skechers has expanded its 20-year legwear licensing partnership with New York-based designer, manufacturer, and distributor of legwear, apparel, and accessories, United Legwear & Apparel Co. (ULAC), to include distribution in the UK and European Union. The license will be managed in these two added territories through...

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Skechers unveils apparel collection with Harry Kane

Footballer Harry Kane, the current captain of England, has launched a capsule apparel collection with Skechers. The comfort technology company states that the limited-edition capsule is the first signature collection between the two, following Kane fronting Skechers’ first football boots, which launched in the UK and Europe in September 2023....

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Skechers achieves Q1 sales growth of 12.5 percent

Skechers first quarter sales increased 12.5 percent as a result of a 15.2 percent increase internationally and a 7.8 percent increase domestically. “For the first quarter, Skechers achieved a new sales record of 2.25 billion dollars, EPS of 1.33 dollars, gross margins of 52.5 percent and an operating margin of 13.3 percent, all notable...

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Marcolin and Skechers renew global eyewear licensing deal

Eyewear manufacturer Marcolin and American sneaker brand Skechers U.S.A. Inc. have announced the early renewal of their global eyewear licensing agreement. The partnership, where Marcolin designs, manufactures and distributes worldwide Skechers sunglasses, eyeglasses and kids’ eyewear, started in 2014 and has been extended until December 31,...