Skechers Eyes Growth Amid Wholesale Challenges and Trademark Moves
Feb/07/2024
As Skechers files for the 'JUST SLIP-ONS' and 'JUST SLIP-ON' trademarks in the US under class 25 for footwear, the company navigates a period of contrasting fortunes. Despite logging a record $8 billion in annual sales, the footwear titan faces persistent hurdles in its wholesale operations. The latter part of 2023 saw a modest uptick in Skechers' wholesale business, with a slight 0.3% increase in Q3, as noted by Tom Nikic of Wedbush Securities. However, this was followed by a downturn in Q4, marked by a surprising 10.4% decrease in domestic wholesale and a 7.1% drop internationally, particularly in the EMEA region, offset slightly by gains in the APAC region, including a robust recovery in China. CFO John Vandemore and COO David Weinberg attribute these fluctuations to retailers' cautious inventory management, yet remain optimistic about a rebound in wholesale growth in the first half of 2024. Alongside these wholesale dynamics, the company's direct-to-consumer (DTC) segment flourished, posting double-digit growth across all regions in Q4, with the EMEA region leading at a 53.1% increase. Looking ahead, Skechers sets an ambitious sales forecast for 2024, aiming for between $8.6 billion and $8.8 billion, signaling confidence in continued expansion and recovery in its business operations. This tag cloud displays all currently pending trademark applications filed by Skechers in the United States, along with their respective trademark classes.
