Skechers Will Break $1 Billion Sales Mark

Skechers USA expects 4Q05 sales to be at the top end of its $210-$220 million guidance. The company now expects FY05 revenues to exceed $1 billion.

"Skechers has evolved into a multi-brand footwear company consisting of more than 20 divisions," began Robert Greenberg, CEO. "I am most impressed with our diverse creative and sourcing skills, which have enabled Skechers to produce athletic and non-athletic footwear for men, women and children. Along with our diverse marketing abilities, we have built a worldwide platform that we believe will grow our many brands in our wholesale and retail channels into the future."

Michael Greenberg, Skechers president, said: "Our success over the years is attributable to our diverse product offering, consistent marketing efforts, and strong retail partners. Through our Skechers and uniquely branded lines, we reach a broad demographic and appeal to families, savvy trend setters, the urban community, and juniors. Our diversity has allowed our retail customers to increase their offering of our brands, successfully growing their business and building ours. Together, we have experienced many successes and I look forward to many more."

David Weinberg, COO, stated: "We have reported year-over-year revenue and profitability increases for the past seven consecutive quarters and expect the fourth quarter of '05 to continue that trend -- a fitting end to a truly successful year. Our strong finish and our key performance indicators give us confidence that our momentum will continue in '06."