Skechers announcesQ2 earnings earlier than anticipated for its proposed buyout agreement
In a significant development, footwear giant Skechers has announced its unaudited second quarter sales of $2.44 billion, marking a 13.1% year-over-year increase. The Q2 earnings report, which is the company's first since announcing plans to go private, also revealed a strong performance across various segments.
Skechers' Direct-to-Consumer (DTC) revenue grew 11% to $1.1 billion for the quarter, while the wholesale segment saw a growth of 15% for the same period, reaching $1.3 billion. Sales in the Americas increased by 1.1%, and in the Asia Pacific region, they grew by 5.5%. However, sales in China decreased by 8.2%.
By region, Skechers saw the biggest increase in Europe, the Middle East, and Africa with sales growing by 48.5%. This growth can be attributed to the strong demand for Skechers' products across the continent.
The recent earnings release did not involve a conference call with executives and investors or other detailed commentary. Additionally, Friday's results did not include a projected financial outlook for the rest of the year. Skechers initially withdrew its outlook prior to the 3G deal, citing "macroeconomic uncertainty stemming from global trade policies."
The Q2 earnings report comes amidst a series of significant events for Skechers. The company filed a Schedule 14C with the Securities and Exchange Commission on Aug. 5, detailing the planned acquisition by 3G Capital. The Federal Trade Commission granted antitrust clearance for the Skechers-3G deal in June.
The merger with 3G is expected to close in the third quarter. Notable Skechers shareholders represented by 3G Capital, who aim to privatize the company, include Michael Greenberg, Chairman and Director of Skechers U.S.A., Inc., holding 226,325 shares, and John M. Vandemore, Chief Financial Officer, holding 145,809 shares as of their latest reported transactions in 2025.
However, Skechers is facing a new lawsuit from Kizik Designs, alleging Skechers violated Kizik's patents for its slip-in styles. A shareholder lawsuit was also filed against Skechers, claiming executives didn't provide adequate information about the proposed merger. On Aug. 8, the shareholder group filed a motion to dismiss the case without prejudice.
Despite these challenges, Skechers continues to demonstrate strong growth and resilience in the face of industry changes and market fluctuations. The company's focus on innovation, quality, and customer satisfaction remains at the forefront of its strategy, positioning it well for continued success in the future.
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