Skechers U.S.A. (SKX) Raymond James & Associates’ 46th Annual Institutional Investors Conference 2025 summary

Business overview and strategy

• Third largest global footwear brand with over 60% of sales outside the U.S., offering a broad product assortment from technical to casual footwear.

• Focuses on style, quality, comfort, and innovation at a reasonable price, targeting the middle of the market.

• Unique value proposition enables penetration across diverse markets and consumer segments.

Regional performance and growth

• Europe has shown exceptional growth over the past five years, driven by consumer embrace and strong direct-to-consumer performance.

• European consumers value comfort technologies, leading to significant brand resonance and capacity challenges due to rapid growth.

• China faces near-term headwinds but remains a strong long-term opportunity, with incremental potential for comfort technologies.

• Monitoring Chinese market stability, with expectations aligned to modest growth and long-term brand strength.

Channel strategy and direct-to-consumer (D2C)

• Long-term growth expected from international and D2C channels, with balanced growth anticipated in the near term due to China headwinds.

• D2C includes both e-commerce and freestanding stores, with ongoing investment in both channels to meet evolving consumer preferences.

• Outlet segment is stable but not a major growth driver compared to freestanding retail and digital.