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

Authentic Brands Group takes controlling stake in Frye

Authentic Brands Group (ABG) has acquired a majority stake in American heritage brand Frye from Global Brands Group Holding Limited for an undisclosed sum....

BLOG

Why digital supply chains are top of mind

Confirmation that digital supply chains are top of mind for apparel industry executives came last week with the latest plans from global sourcing specialist Li & Fung....

BLOG

Navigating global political frictions and economic uncertainty

As a barometer of the issues top of mind for apparel sourcing executives, it is hard to beat the annual Prime Source Forum in Hong Kong. ...

NEWS

Clarks to cut jobs at UK head office

Footwear firm Clarks says it is continuing to review and reorganise the business after revealing a number of job cuts, understood to be around 50, at its headquarters....

BLOG

Trump and Brexit generate more confusion

Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...

BLOG

Bangladesh works to resolve labour activist issues

The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...

just-style homepage



Forgot your password?