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Los Angeles Clippers Shooting Guard Norman Powell Joins Team Skechers

1. Norman Powell signs with Skechers Basketball, enhancing brand visibility. 2. The SKX NEXUS™ shoe offers comfort and performance for basketball players. 3. Skechers has a growing roster of prominent athletes across various sports. 4. The brand's innovative designs and athlete endorsements may drive sales growth. 5. Skechers focuses on international expansion and new product development strategies.

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FAQ

Why Bullish?

Endorsements from athletes like Powell can boost brand recognition and sales, similar to past endorsements resulting in revenue growth. Skechers' expansion and innovation also indicate potential positive market reception.

How important is it?

The article highlights important athlete endorsements and product launches that are crucial for Skechers' market competitiveness and visibility. As endorsements often correlate with increased product sales, this could significantly impact SKX's financial performance.

Why Short Term?

Immediate impact expected from sporting events and athlete visibility, reminiscent of previous brand endorsements that spiked sales temporarily. Short-term gains linked to specific athlete performances or events like All-Star Weekend.

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SKXGOODYNKEADIDAS
LOS ANGELES--(BUSINESS WIRE)--Seeking Comfort That Performs® on the court, Los Angeles Clippers shooting guard Norman Powell is now exclusively playing in Skechers Basketball footwear after signing with the performance brand. Powell is set to compete in the 3-point contest during NBA All-Star Weekend on Saturday, February 15. “I’ve been seeing more players competing in Skechers, so I wanted to try them for myself. It was immediately clear that Skechers is a perfect fit for me,” said Norman Powell, who plays in the SKX NEXUS™. “It starts with that famous Skechers comfort, but these sneakers look great, and I love wearing them on the court. While everything about Skechers Basketball is unexpected, they understand the grind and are relentless in their pursuit of performance excellence, so I can’t wait to take it up a notch with this brand.” “As a Los Angeles-based company, we saw a great opportunity in bringing Clippers athlete Norman Powell to Team Skechers,” said Michael Greenberg, president of Skechers. “Known as a standout player in the league, Norman’s incredible performance on the court this season has fans watching his every move—and we love that he’s doing it in Skechers Basketball shoes. He is a great asset to our brand and illustrates how the signature comfort and performance offered by our footwear can help players elevate their game.” Norman Powell played college ball for UCLA, where, in his senior year, he was selected to the First-team All-Pac-12. Powell was picked in the second round of the 2015 NBA draft and started his pro career with the Toronto Raptors. His five-and-a-half seasons in Toronto included an NBA Championship win in 2019. In March 2021, he was traded to the Portland Trail Blazers where he remained for less than a year before another trade brought him to the Los Angeles Clippers in February 2022. Powell has been to the NBA playoffs in all but one season of his 10-year NBA career. Perfect for players who desire a fast and responsive court-feel, the SKX NEXUS™ worn by Powell is a low-top court shoe designed for speed, stability and support. Offering exceptional comfort with resilient Skechers Move Foam™, every pair features a breathable mesh upper, lockdown ankle support in the heel, and Goodyear® rubber with a torsion-plate to amplify traction for quick cuts on the court. The style joins an innovative Skechers Basketball collection that includes the lightweight SKX Resagrip™ with advanced cushioning, the SKX Float™ for exceptional stability and control, and the SKX Reign™ that promotes elevation and intense traction. Skechers also recently signed shooting guard Josh Green of the Charlotte Hornets. The brand’s roster includes basketball stars Joel Embiid, Julius Randle, Terance Mann, Jabari Walker, and Rickea Jackson. Additional elite athletes around the world competing in Skechers Performance footwear includes golfers Matt Fitzpatrick and Brooke Henderson; soccer players Harry Kane, Baris Alper Yilmaz and Mohammed Kudus; pickleball pros Tyson McGuffin and Catherine Parenteau; and baseball players Clayton Kershaw and Aaron Nola, among others. Skechers Basketball footwear is available at skechersbasketball.com and select Skechers retail stores. Basketball fans can get behind-the-scenes access to Skechers Basketball product launches and more by following @skechersbasketball on Instagram and TikTok. About Skechers U.S.A., Inc. Skechers (NYSE:SKX), The Comfort Technology Company® based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in 180 countries and territories through department and specialty stores, and direct to consumers through skechers.com and approximately 5,300 Skechers retail stores. A Fortune 500® company, Skechers manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram and TikTok. About The Goodyear Tire & Rubber Company Goodyear is one of the world's largest tire companies. It employs about 68,000 people and manufactures its products in 53 facilities in 20 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate. This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the effects of inflation and foreign currency exchange rate fluctuations around the world, the challenging consumer retail markets in the United States, and the impact of wars, acts of war and other conflicts around the world; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2023 and its quarterly reports on Form 10-Q in 2024. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

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