21 Apr Skechers Announces Reportable Segment Change
Skechers U.S.A., Inc. announced that it has changed its segment reporting, as the company refined the way it views its business operations and decision-making. Effective the first quarter of 2022, the company will present segment results as Wholesale and Direct-to-Consumer.
“The new segment reporting structure we unveiled today, improves the alignment between our external reporting and our management operations and strategy,” said John Vandemore, Chief Financial Officer. “In addition, we also introduced enhanced disclosures intended to provide improved visibility and transparency into our global operations for investors, analysts and other key stakeholders. As we strive toward $10 billion in sales by 2026, we believe these reporting changes will further highlight the underlying power of our brand and strength in our business, and why we are confident in achieving this sales goal.”
The company has recast previously reported quarterly segment financial information for the years ended December 31, 2021 and 2020 to reflect its new reportable segments. The segment change has no impact on consolidated historical U.S. GAAP financial results.
The recast financial information is accessible through the Presentation section of the Company’s Investor Relations website at investors.skechers.com.
The company will release its first quarter 2022 financial results after market close on Tuesday, April 26, 2022.