Skechers Temporarily Suspends Shipments to Russia and Provides $250,000 in Humanitarian Aid to Ukraine
March 09 2022 - 12:00PM
Business Wire
The Company Offers to Match an Additional
$250,000 in Donations, Totaling Up to $500,000 for CORE and Other
Organizations to Help Ukrainians
Skechers USA, Inc. (NYSE:SKX) announced that last week, the
Company temporarily suspended shipments to Russia due to the
conflict in Ukraine. Skechers is also donating $250,000 in
humanitarian aid to organizations on the ground in Ukraine and
Poland, as well as matching employee donations up to an additional
$250,000 to support the Ukrainian people.
“We have deep concern for Ukraine and its citizens, who are
doing all they can to defend their country and survive while under
siege. And while our team in Ukraine is currently safe, this has
been a heartbreaking time for them, their families and neighbors,”
said Michael Greenberg, president of Skechers. “We’ve been moved by
the Skechers community, who has reached out with an outpouring of
support and has asked how we could collectively help. This inspired
us to potentially double our donation through CORE, an organization
whom we worked with last year in Haiti. We will do all we can for
the humanitarian efforts that are taking place throughout the
region and join the world in hoping for peace.”
The Company has already made a donation to Tikva Children's
Home, an Odessa-based organization with whom the Company has had a
long relationship, and is looking into additional contributions of
shoes and socks to further support Ukraine’s citizens and refugees,
which now total more than 2 million people.
CORE’s team is on the ground in Poland providing emergency
assistance to Ukrainian refugees who have crossed the border. The
crisis response organization is distributing kits with essential
hygiene items, thermal blankets, and other critical resources, and
is also supporting community-based refugee centers by providing
them with supplies and institutional aid to support the
overwhelming influx of individuals fleeing the war.
About SKECHERS USA, Inc.
Skechers USA, Inc., The Comfort Technology Company™ based in
Southern California, designs, develops and markets a diverse range
of lifestyle and performance footwear, apparel and accessories for
men, women and children. The Company’s collections are available in
the United States and over 180 countries and territories via
department and specialty stores, and direct to consumers through
4,306 Company and third-party-owned retail stores and e-commerce
websites. The Company manages its international business through a
network of global distributors, joint venture partners in Asia,
Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan,
India, Europe and Latin America. For more information, please visit
about.skechers.com and follow us on Facebook, Instagram, Twitter,
and TikTok.
This announcement contains forward-looking statements that are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements may include, without limitation, Skechers’ future
domestic and international growth, financial results and operations
including expected net sales and earnings, its development of new
products, future demand for its products, its planned domestic and
international expansion, opening of new stores and additional
expenditures, and advertising and marketing initiatives.
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 the disruption of business and
operations due to the COVID-19 pandemic; delays or disruptions in
our supply chain; international economic, political and market
conditions including the challenging consumer retail markets in the
United States; 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, especially in
the highly competitive performance footwear market; 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 Skechers’ annual report on Form 10-K
for the year ended December 31, 2021. More specifically, the
COVID-19 pandemic has had and is currently having a significant
impact on Skechers’ business, financial conditions, cash flow and
results of operations. Forward-looking statements with respect to
the COVID-19 pandemic include, without limitation, Skechers’ plans
in response to this pandemic. At this time, there is significant
uncertainty about the COVID-19 pandemic, including without
limitation, (i) the duration and extent of the impact of the
pandemic, (ii) governmental responses to the pandemic, including
how such responses could impact Skechers’ business and operations,
as well as the operations of its factories and other business
partners, (iii) the effectiveness of Skechers’ actions taken in
response to these risks, and (iv) Skechers’ ability to effectively
and timely adjust its plans in response to the rapidly changing
retail and economic environment. Taking these and other risk
factors associated with the COVID-19 pandemic into consideration,
the dynamic nature of these circumstances means that what is stated
in this press release could change at any time, and as a result,
actual results could differ materially from those contemplated by
such forward-looking statements. The risks included here are not
exhaustive. Skechers operates in a very competitive and rapidly
changing environment. New risks emerge from time to time and we
cannot predict all such risk factors, nor can we assess the impact
of all such risk factors on our business 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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Jennifer Clay Skechers USA, Inc. jennc@skechers.com
Skechers USA (NYSE:SKX)
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