SKECHERS USA (SKX) Company Report

Skechers U.S.A., Inc. completed its merger on September 12, 2025, becoming an indirect subsidiary of Beach Acquisition Co Parent, LLC, an affiliate of 3G Capital Partners L.P..
As a result of the merger, a change in control of the company occurred.
Each outstanding share of Company Common Stock was cancelled and converted into the right to receive the Merger Consideration, and holders ceased to have any rights as stockholders.
Concurrently with the merger, new financing arrangements were established, including a Credit Agreement and the issuance of 5.250% Senior Secured Notes due 2032 and 10.000% / 10.750% Senior PIK Toggle Notes due 2033 by Beach Acquisition Bidco, LLC.

Sep 12, 2025, 1:19 PM

8-K

Skechers Acquisition by 3G Capital Completed

SKX

M&A

Delisting/Listing Issues

3G Capital has completed its acquisition of Skechers U.S.A., Inc..
As a result of the transaction, Skechers' shares will no longer trade on the NYSE under NYSE:SKX as of September 12.
The company will continue to be led by its executive management team, including Chief Executive Officer Robert Greenberg and President Michael Greenberg.

Sep 12, 2025, 1:15 PM

Press Release

Skechers U.S.A., Inc. Faces Securities Fraud Investigation Following Go-Private Deal

SKX

Legal Proceedings

M&A

Takeover Bid

The Portnoy Law Firm has initiated an investigation into Skechers U.S.A., Inc. for possible securities fraud, potentially leading to a class action lawsuit on behalf of investors.
This investigation follows Skechers' announcement on May 5, 2025, of a definitive agreement with 3G Capital for a go-private transaction.
Under the terms of the agreement, shareholders have the option to receive either $63.00 in cash per share or $57.00 in cash per share plus one unit in the post-closing private entity.
Concerns have been raised regarding the adequacy of the transaction's valuation, as Skechers common stock had traded at levels nearing $80.00 per share within the twelve months leading up to the announcement.

Jul 25, 2025, 9:21 PM

Press Release

Skechers outlines pro forma financials for planned merger

SKX

M&A

Debt Issuance

On May 4, 2025, Skechers agreed to merge into Beach Acquisition Co Parent, LLC, with shareholders receiving $63.00 cash per share or $57.00 cash plus one Common Unit, subject to a 20% cap; pro forma assumes a 17% Mixed Election.
The total estimated merger consideration is $10.37 billion, comprising $9.50 billion cash, $742 million rollover equity, and $130 million debt repayment.
Transaction financing includes approximately $3.9 billion first-lien term debt, $2.5 billion junior debt, and $3.6 billion equity proceeds, reflected in the unaudited pro forma balance sheet as of March 31, 2025.
Preliminary purchase price allocation records $4.5 billion identifiable intangibles (including $4.0 billion brand) and $2.48 billion goodwill against net assets of $8.46 billion.

Jun 17, 2025, 12:00 AM

8-K

Skechers Agrees to Be Acquired by 3G Capital

SKX

M&A

Skechers USA Inc. has agreed to be acquired by 3G Capital with a cash consideration of $63.00 per share, representing a 30% premium over the recent trading average.
The transaction offers an alternative mixed election option and will result in Skechers transitioning to a privately held company while retaining its current management team.

May 5, 2025, 12:00 AM

8-K

Skechers Reports Record Q1 2025 Results and Updates

SKX

Earnings

Revenue Acceleration/Inflection

Guidance Update

Record Q1 2025 Results: Skechers posted $2.41 billion in revenue—with a 7.1% YoY increase (65% from international markets), a diluted EPS of $1.34, and operating earnings of $265.1 million—reflecting robust global demand.
Direct-to-Consumer Growth: The DTC segment grew 6%, fueled by strategic new store openings in the U.S. and China.
Margin Challenges: The company faced pressure with a gross margin of 52% (down 50 basis points) and an operating margin of 11% versus 13.3% last year, due to increased promotional and distribution costs.
Strategic Response: Executives emphasized flexible pricing and diversified global sourcing to mitigate tariff impacts and manage inventory in an uncertain macroeconomic climate.
Guidance Update: Skechers has withdrawn its annual 2025 guidance amid ongoing macroeconomic uncertainties.

Apr 24, 2025, 8:31 PM

Transcript 8-K

Skechers USA Inc Highlights Strategic Priorities and Margin Improvement

SKX

New Projects/Investments

Revenue Acceleration/Inflection

Strong Global Positioning: Skechers, the third largest footwear provider, leverages a broad product mix and extensive international reach—operating in approximately 180 countries with 62% of its revenue coming from outside the U.S.—to maintain competitive differentiation.
Consistent Margin Expansion: The company has improved its gross margin from around 44% a decade ago to 53% recently, driven by product innovation, better pricing strategies, and disciplined cost management.
Strategic Investments and Financial Resilience: Emphasizing a fortress balance sheet with nearly $1 billion in net cash, Skechers continues strategic investments in distribution centers in key markets like the U.S. and China to support long-term growth and navigate supply chain challenges .

Mar 12, 2025, 12:01 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for SKECHERS USA.

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