Skechers Says Push Into Performance Athletic Will Convert More Consumers

Skechers might be best known for its comfort footwear, but the brand says it is leaning into performance athletic silhouettes to win over more consumers.

The Manhattan Beach, Calif.-based footwear company on Thursday said it is in the early stages of leaning into more robust performance offerings in basketball and soccer that are expected to boost customer acquisition.

“We’re still looking forward to achieving significantly higher acquisition as we get into more performance athletics, but we’re at the very beginning of that,” Skechers chief operating officer David Weinberg said in a call with analysts on Thursday. He noted that Skechers will soon launch its first football/soccer collection in Europe and will also lean more deeply into the basketball category.

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“I think what’s happening is that our features and our comfort are expanding the base of our existing customers,” Weinberg said.

Skechers revealed its first basketball shoes — the Skx Resagrip and the Skx Float — in October. At the time, the brand said it had tapped Julius Randle of the New York Knicks and Terance Mann of the Los Angeles Clippers as brand ambassadors. Now as Skechers gears up to roll out the category globally next month, the brand announced it signed WNBA and Los Angeles Sparks Rising Star forward Rickea Jackson.

To promote the global basketball rollout, Weinberg said Skechers is launching “dedicated social channels” for the basketball category and will make new campaigns with Rickea, Randle, Mann and NBA star Joel Embiid.

“We see many more opportunities ahead as we bring Skechers basketball around the world,” Weinberg said. “As the comfort technology company, we prioritize delivering the ultimate in innovation, comfort and style so that every pair looks and feels exceptional.”

Skechers is also following through with its expansion of European football, or soccer. The company last year commenced its official entry into the soccer category with the signing of striker Harry Kane.

And earlier this month, the brand signed West Ham United and Ghana National Team winger Mohammed Kudus as a Skechers athlete who will be featured as a brand ambassador in a multi-platform marketing campaign. In addition to signing Kudus, Skechers said it will launch its “Evolution Pack,” a new colorway of its boots, meant to celebrate the first anniversary of Skechers entering soccer.

Skechers on Thursday raised its full-year outlook after posting record sales for the second quarter. Net sales of $2.16 billion, up 7.2 percent and net earnings were $140.3 million, with diluted earnings per share of 91 cents.

The company raised its guidance for the year and now expects to achieve sales between $8.875 and $8.975 billion for fiscal year 2024. The brand is targeting diluted earnings per share between $4.08 and $4.18.