Blog: Michelle RussellSkechers pushes Adidas off US No.2 spot

Michelle Russell | 19 May 2015

It seems Adidas has been caught napping after Skechers passed the German sporting giant to take its second place in the sports footwear market in the US.

Accounting for 5% of the market, Skechers has pushed Adidas into third place at 4.6%. According to the Wall Street Journal, Nike and the Jordan brand retain the joint number one position with a combined 62% share of the US sports footwear market.

Skechers posted another quarter of record revenues last month, with net profit nearly doubling on last year’s first-quarter.

The fast-growing footwear business said continued strong demand for lifestyle, performance and children’s footwear had driven gains in the first three months of 2015.

Zacks Equity Research said in a note to investors: “Skechers has been gaining momentum following its impressive first-quarter 2015 performance. Shares of this designer, developer, marketer, and distributor of footwear have surged roughly 31% since 22 April, when the company announced its results. We believe that the company's strong fundamentals are capable of providing further impetus to the stock.”

Sectors: Footwear

Companies: Skechers, Nike

NEWS

Rocky Brands inks military contracts worth US$38m

US apparel and footwear company Rocky Brands has received two new orders worth more than US$38m over the next three years to produce both hot weather and temperate weather combat boots for the US Mili...

BLOG

Likely shifts in the sourcing landscape in 2017

Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...

NEWS

Top stories this week on just-style...

Top stories this week on just-style include an update on the US warning of a terrorist threat to Bangladesh, a look at why China's apparel exports are facing a serious threat, how apparel sourcing pro...

BLOG

Trump trade policies and China tensions top concerns

This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...

NEWS

Pou Sheng CFO and CEO depart amid accounting irregularities

Yue Yuen Industrial Holdings, the world's largest branded sports shoe maker, has sacked the chief financial officer of its Pou Sheng International business and accepted the resignation of the unit's C...

BLOG

Happy New Year – and a first look at 2017

Welcome back after the holiday break, and from the team here at just-style I’d like to wish all our readers a happy and prosperous New Year....

NEWS

Oblonsky appointed CEO of Nine West and Bandolino

US women's footwear, accessories and denim firm Nine West Holdings has appointed former Ralph Lauren executive Joel Oblonsky as CEO of its namesake and Bandolino brands....

BLOG

New re:source to help unravel sourcing decisions

Apparel sourcing is a complex process built on a mix of location, logistics, lead-time, price, compliance, risk and reliability. And it's in a constant state of flux as retailers, brands and manufactu...

just-style homepage



Forgot your password?