SKECHERS Announces Three-for-One Stock Split Subject to Stockholder Approval
August 21 2015 - 8:00AM
Business Wire
SKECHERS USA, Inc. (NYSE:SKX), a global leader in footwear,
today announced that its Board of Directors has approved a
three-for-one split of the Company’s Class A and Class B common
stock that will be distributed in the form of a stock dividend.
The stock split is subject to stockholder approval of an
amendment to the Company’s Certificate of Incorporation to increase
the authorized number of Class A and Class B shares. The
stockholder vote is expected to take place at a special meeting of
stockholders currently scheduled for September 24, 2015. If the
Company’s stockholders approve the authorization of additional
shares, the stock dividend will be distributed to the stockholders
of record as of the close of business on October 2, 2015, with a
payment date of October 15, 2015.
“Our decision to adopt this stock split is another indication of
our confidence in our business model worldwide, which we believe
will continue to generate profitable growth and strong cash flows,”
stated Robert Greenberg, Skechers chief executive officer. “We are
looking forward to continuing to deliver our broad-based collection
of men’s, women’s and kids’ footwear to the global market.
Personally, I have never been more confident and excited about the
future of Skechers.”
About SKECHERS USA, Inc.
SKECHERS USA, Inc., based in Manhattan Beach, California,
designs, develops and markets a diverse range of lifestyle footwear
for men, women and children, as well as performance footwear for
men and women. SKECHERS footwear is available in the United States
and over 120 countries and territories worldwide via department and
specialty stores, more than 1,100 SKECHERS retail stores, and the
Company’s e-commerce website. The Company manages its international
business through a network of global distributors, joint venture
partners in Asia, and 12 wholly-owned subsidiaries in Brazil,
Canada, Chile, Japan and throughout Europe. For more information,
please visit skechers.com and follow us on Facebook
(facebook.com/SKECHERS) and Twitter (twitter.com/SKECHERSUSA).
This announcement contains forward-looking
statements that are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, the
Company’s future growth and financial results and operations.
Forward-looking statements can be identified by the use of forward
looking language such as “believe,” “anticipate,” “expect,”
“estimate,” “intend,” “plan,” “project,” “will be,” “will
continue,” “will result,” “could,” “may,” “might,” or any
variations of such words with similar meanings. Any such statements
are subject to risks and uncertainties that could cause actual
results to differ materially from those projected in
forward-looking statements. Factors that might cause or contribute
to such differences include international economic, political and
market conditions including the uncertainty of sustained recovery
in Europe; entry into the highly competitive performance footwear
market; sustaining, managing and forecasting costs and proper
inventory levels; losing any significant customers; decreased
demand by industry retailers and cancellation of order commitments
due to the lack of popularity of particular designs and/or
categories of products; maintaining brand image and intense
competition among sellers of footwear for consumers; anticipating,
identifying, interpreting or forecasting changes in fashion trends,
consumer demand for the products and the various market factors
described above; sales levels during the spring, back-to-school and
holiday selling seasons; and other factors referenced or
incorporated by reference in the Company’s annual report on Form
10-K for the year ended December 31, 2014 and its quarterly report
on Form 10-Q for the three months ended June 30, 2015. The risks
included here are not exhaustive. The Company operates in a very
competitive and rapidly changing environment. New risks emerge from
time to time and the companies cannot predict all such risk
factors, nor can the companies assess the impact of all such risk
factors on their respective businesses or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. Given these risks and uncertainties, you should not
place undue reliance on forward-looking statements as a prediction
of actual results. Moreover, reported results should not be
considered an indication of future performance.
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version on businesswire.com: http://www.businesswire.com/news/home/20150821005102/en/
Company Contact:SKECHERS USA, Inc.David WeinbergChief
Operating Officer,Chief Financial Officer310-318-3100orInvestor
Relations:Addo CommunicationsAndrew Greenebaum310-829-5400
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