Start Time: 16:30 January 1, 0000 5:34 PM ET

Skechers U.S.A., Inc. (NYSE:SKX)

Q1 2023 Earnings Conference Call

April 27, 2023, 16:30 PM ET

Company Participants

David Weinberg - COO

John Vandemore - CFO

Ashley Keith - FP&A

Conference Call Participants

Jay Sole - UBS

Gaby Carbone - Deutsche Bank

Laurent Vasilescu - BNP Parabas

John Kernan - Cowen and Company

Jim Duffy - Stifel

Rick Patel - Raymond James

Tom Nikic - Wedbush Securities

Alex Straton - Morgan Stanley

Operator

Greetings, and welcome to the Skechers First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

I would now like to turn this conference over to Skechers. Thank you. You may begin.

Ashley Keith

Hello, everyone. My name is Ashley Keith from the FP&A team. Thank you for joining us on Skechers conference call today.

I will now read the Safe Harbor statement. Certain statements contained herein, including, without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the company or future results or events may constitute forward-looking statements that involve risks and uncertainties.

Such forward-looking statements involve known and unknown risks, including, but not limited to, global, national, and local, economic, business and market conditions, including the impact of inflation, foreign currency fluctuations, Russia's war with Ukraine and supply chain delays and disruptions in general and specifically as they apply to the retail industry and the company.

There can be no assurance that the actual future results, performance or achievements expressed or implied by any of our forward-looking statements will occur. Users of forward-looking statements are encouraged to review the company's filings with the U.S. Securities and Exchange Commission, including the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all other reports filed with the SEC as required by federal securities laws for a description of all other significant risk factors that may affect the company's business, financial conditions, cash flows and results of operations.

With that, I would like to turn the call over to Skechers' Chief Operating Officer, David Weinberg; and Chief Financial Officer, John Vandemore. David?

David Weinberg

Thank you for joining us today on our first quarter 2023 conference call. For the first time in our history, we achieved quarterly sales of $2 billion and a first quarter record earnings of $1.02. These results were attributable to the strength of our brand and the demand for our comfort technology products, supported by impactful marketing and distribution capabilities.