Interviews
News Flash
SKECHERS COO satisfied with Q2 performance
24 Jul '08
5 min read
We are launching new print and television campaigns for our brands, including a multiple medium campaign featuring American Idol winner David Cook in SKECHERS and a new print and TV campaign featuring High School Musical star Vanessa Hudgens.
We believe our fashionable and diverse product offering, which now includes the very fresh junior sneaker brands Punkrose for women and Public Royalty for men, resonates with consumers in markets around the world.
Our goal is to continue to profitably grow our brand internationally as well as in the United States by continuing to create desirable brands sought after by consumers of all ages. We remain confident that there are still areas to penetrate in the United States, and the opportunities for growth internationally are numerous.”
“We are pleased with our sales in the second quarter and for the first six months of the year. Achieving record revenues and still growing when the U.S. retail sector is very soft is clearly not easy for any business,” stated David Weinberg, SKECHERS' chief operating officer. “We believe our growth is due to the reputation of our brand, our diversified product offering, and our global business model.”
Weinberg continued: “While we are satisfied with our performance for the quarter, we are cautiously optimistic about the second half of the year. We believe the third quarter will be stronger than this past quarter, as discussed when we gave second quarter guidance a few months ago. This expectation is based on orders received during the second quarter, resulting in double digit backlogs internationally and mid-single digits domestically.
In addition, we just completed several weeks of pre-lines and received very positive feedback from our key domestic and Canadian accounts, and our international business is growing in nearly every market across the globe.
While we are cautious in our domestic plans given the U.S. economy, our key indicators give us confidence that we will be able to profitably grow our market share. We are continuing to further lay the foundation for our planned world-wide growth by enhancing our distribution capabilities, building our international business, and looking for new opportunities to grow domestically.”
The Company now expects net sales for the third quarter of 2008 to be in the range of $425 million to $440 million and net earnings per diluted share of $0.57 to $0.65.
We believe our fashionable and diverse product offering, which now includes the very fresh junior sneaker brands Punkrose for women and Public Royalty for men, resonates with consumers in markets around the world.
Our goal is to continue to profitably grow our brand internationally as well as in the United States by continuing to create desirable brands sought after by consumers of all ages. We remain confident that there are still areas to penetrate in the United States, and the opportunities for growth internationally are numerous.”
“We are pleased with our sales in the second quarter and for the first six months of the year. Achieving record revenues and still growing when the U.S. retail sector is very soft is clearly not easy for any business,” stated David Weinberg, SKECHERS' chief operating officer. “We believe our growth is due to the reputation of our brand, our diversified product offering, and our global business model.”
Weinberg continued: “While we are satisfied with our performance for the quarter, we are cautiously optimistic about the second half of the year. We believe the third quarter will be stronger than this past quarter, as discussed when we gave second quarter guidance a few months ago. This expectation is based on orders received during the second quarter, resulting in double digit backlogs internationally and mid-single digits domestically.
In addition, we just completed several weeks of pre-lines and received very positive feedback from our key domestic and Canadian accounts, and our international business is growing in nearly every market across the globe.
While we are cautious in our domestic plans given the U.S. economy, our key indicators give us confidence that we will be able to profitably grow our market share. We are continuing to further lay the foundation for our planned world-wide growth by enhancing our distribution capabilities, building our international business, and looking for new opportunities to grow domestically.”
The Company now expects net sales for the third quarter of 2008 to be in the range of $425 million to $440 million and net earnings per diluted share of $0.57 to $0.65.
SKECHERS USA Inc
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
