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SKECHERS registers a new record in first quarter
24 Apr '08
4 min read
“As we approach our 16th year in business, we are ready to drive our message to every fashion-savvy consumer in every metropolis around the world. We believe we are extremely well-positioned, even in light of the economic challenges the U.S. is currently experiencing.
In fact, Sporting Goods Intelligence recently (April 14, 2008) reported that 'SKECHERS became the (U.S.) market's only other billion dollar brand outside of Nike and grew its (U.S. market) share',” commented Robert Greenberg, SKECHERS' chief executive officer.
“We have multiple unique lines comprised of more than 2,500 trend-right and reasonably priced styles. We are able to successfully meet the needs of a diverse consumer base in the United States and internationally by marketing our product through multiple mediums and several channels of distribution.
We believe our fashionable product, broad diversification, and willingness to support our business through both marketing and execution makes us the right brand for our consumers.
We are pleased with our consistent growth and record earnings, and look to the coming year with an eye on further developing our domestic and international business in our existing markets and building our brand in the recently launched Brazil and China arenas, as well as growing our company-owned store base by another 20 to 25 locations – including our first in Scotland, which is opening this week. Our goal is to continue to ensure that SKECHERS remains a must-have brand.”
Mr. Weinberg continued: “We believe the sales momentum we are seeing will continue into the second quarter based on key indicators including our backlog and strong shipments to date this quarter. While we are encouraged by our key indicators, we remain cautious about the coming year and therefore are providing a broader guidance range for the second quarter. This guidance reflects the difficult retail environment, which has resulted in many retailers requesting product shipping closer to their need.”
The Company now expects second quarter 2008 net sales to be in the range of $350 million to $365 million and diluted earnings per share in the range of $0.30 to $0.38.
In fact, Sporting Goods Intelligence recently (April 14, 2008) reported that 'SKECHERS became the (U.S.) market's only other billion dollar brand outside of Nike and grew its (U.S. market) share',” commented Robert Greenberg, SKECHERS' chief executive officer.
“We have multiple unique lines comprised of more than 2,500 trend-right and reasonably priced styles. We are able to successfully meet the needs of a diverse consumer base in the United States and internationally by marketing our product through multiple mediums and several channels of distribution.
We believe our fashionable product, broad diversification, and willingness to support our business through both marketing and execution makes us the right brand for our consumers.
We are pleased with our consistent growth and record earnings, and look to the coming year with an eye on further developing our domestic and international business in our existing markets and building our brand in the recently launched Brazil and China arenas, as well as growing our company-owned store base by another 20 to 25 locations – including our first in Scotland, which is opening this week. Our goal is to continue to ensure that SKECHERS remains a must-have brand.”
Mr. Weinberg continued: “We believe the sales momentum we are seeing will continue into the second quarter based on key indicators including our backlog and strong shipments to date this quarter. While we are encouraged by our key indicators, we remain cautious about the coming year and therefore are providing a broader guidance range for the second quarter. This guidance reflects the difficult retail environment, which has resulted in many retailers requesting product shipping closer to their need.”
The Company now expects second quarter 2008 net sales to be in the range of $350 million to $365 million and diluted earnings per share in the range of $0.30 to $0.38.
SKECHERS USA Inc
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