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SKECHERS Q2 sales in line with expectations
23 Jul '09
4 min read
We are continuing to develop fresh product and support our brands with targeted marketing, including new print campaigns and multiple commercials for SKECHERS Kids – featuring our cast of characters; SKECHERS Men and Women; and several new spots for our fashion brands, including one with Vanessa Hudgens for Red by Marc Ecko. As we continue to look at opportunities to grow our business, we have selectively opened new SKECHERS stores in the United States, established a subsidiary operation in Chile, and introduced existing lines into many key countries, and we are expanding into new markets.
As a well-recognized brand and a financially strong company trusted by consumers and our wholesale partners, we believe we are well-positioned for the current economic climate as well as for profitable growth when the global economy begins to improve."
“The last year has been a difficult one for many companies, retailers and consumers around the globe. Like many others, we too have been adversely affected by the economic climate, and have adjusted our inventory levels and expenses to meet the lower demand,” stated David Weinberg, chief operating officer of SKECHERS.
“We are beginning to see positive improvements in our domestic and international sales trends, and our new product offerings have been well received and are testing well. We believe our cash position of $257 million, which increased by $184 million during the second quarter in part due to the redemption of our auction rate securities, provides us ample liquidity to effectively operate in a difficult retail environment. With a new untapped credit facility of $250 million and a cash balance in excess of $5.50 per share, we believe we are in a great position to capitalize on opportunities as they arise and to further grow our business around the world.”
As a well-recognized brand and a financially strong company trusted by consumers and our wholesale partners, we believe we are well-positioned for the current economic climate as well as for profitable growth when the global economy begins to improve."
“The last year has been a difficult one for many companies, retailers and consumers around the globe. Like many others, we too have been adversely affected by the economic climate, and have adjusted our inventory levels and expenses to meet the lower demand,” stated David Weinberg, chief operating officer of SKECHERS.
“We are beginning to see positive improvements in our domestic and international sales trends, and our new product offerings have been well received and are testing well. We believe our cash position of $257 million, which increased by $184 million during the second quarter in part due to the redemption of our auction rate securities, provides us ample liquidity to effectively operate in a difficult retail environment. With a new untapped credit facility of $250 million and a cash balance in excess of $5.50 per share, we believe we are in a great position to capitalize on opportunities as they arise and to further grow our business around the world.”
SKECHERS USA Inc
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