Announcement • Sep 12

+ 27 more updates

3G Fund Vi, L.P., fund managed by 3G Capital, Inc completed the acquisition of Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others.

3G Fund Vi, L.P., fund managed by 3G Capital, Inc. entered into an Agreement and Plan of Merger to acquire Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others for $9.7 billion on May 4, 2025. Under the terms of the definitive merger agreement (the “Merger Agreement”), 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30% to Skechers’ 15-day volume-weighted average stock price. The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit (the “LLC Unit”) in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers (the “New LLC”). Both the Cash Consideration and Mixed Election Consideration are available to each share of Skechers stock on the same terms, regardless of whether it is Class A or Class B shares of Skechers stock. In connection with entering into the Merger Agreement, on May 4, 2025, Skechers entered into a support agreement with Robert Greenberg and other members of the Greenberg Family (each, a “Supporting Stockholder”), pursuant to which each Supporting Stockholder has agreed to, among other things, elect to receive the Mixed Election Consideration in the transaction. The Skechers Board formed an independent committee of independent directors to evaluate the transaction. Following the completion of the transaction, Skechers will continue to execute its ongoing strategic initiatives including designing award-winning and innovative product, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology. Upon completion of the transaction, the Company’s common stock will no longer be listed on the New York Stock Exchange, and Skechers will become a private company. The transaction will be financed through a combination of cash provided by 3G Capital as well as debt financing that has been committed by JPMorgan Chase Bank, N.A. In addition, in connection with the Merger Agreement, Parent has entered into an amended and restated debt commitment letter, dated as of May 23, 2025 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Debt Commitment Letter”) with certain financial institutions, including JPMorgan Chase Bank, N.A. acting as lead left arranger (collectively, the “Debt Financing Sources”), pursuant to which the Debt Financing Sources have committed to provide debt financing consisting of an approximately $2.1 billion first lien term loan facility, an approximately $1.6 billion first lien revolving facility, an approximately $1.9 billion senior secured bridge facility and an approximately $2.5 billion junior debt facility (collectively, the “Debt Financing” and together with the Equity Financing, the “Financing”). Parent currently expects to borrow approximately $165.0 million less first lien debt than the committed amount of first lien term loans and bridge loans. The obligations of the Debt Financing Sources to provide the Debt Financing under the Debt Commitment Letter are subject to a number of customary conditions. In case of termination, Skechers will be required to pay 3G Capital, Inc. a termination fee of $339,883,891. In addition, 3G Capital, Inc. will be required to pay the Company a termination fee of $534,103,258. As of May 6, 2025 the transaction does not trigger any variations or changes to Accent’s distribution agreement with Skechers. As of June 27, 2025, the Federal Trade Commission approved the transaction. The transaction is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended and the Registration Statement has become effective in accordance with the provisions of the Securities Act of 1933, as amended. The transaction is expected to close in the third quarter of 2025. Skechers stockholders holding approximately 60% of the combined voting power of the outstanding shares of Skechers common stock have approved the transaction by written consent. As a result, no further actions by other Skechers stockholders will be required to approve the transaction. This transaction was unanimously approved by the Skechers board of directors. As on August 19, 2025, the transaction has been approved by Competition Commission of India. As of August 28, 2025, announced that all regulatory approvals required to complete the acquisition of Skechers by 3G Capital have now been received. The parties currently anticipate the Transaction will close on September 12, 2025, subject to the satisfaction of customary closing conditions contained in the parties’ definitive merger agreement. Greenhill & Co., LLC acted as exclusive financial advisor to Skechers. Under the terms of Greenhill’s engagement with Skechers, Skechers has agreed to pay Greenhill a fee of approximately $19.5 million, of which $3.0 million became payable upon delivery of Greenhill’s opinion and the remainder of which is contingent and payable only upon the consummation of the Merger. Steven Stokdyk, Josh Dubofsky, Andrew Clark, Blair Connelly, Maj Vaseghi, James Robinson, Mandy Reeves, Michael Egge, Patrick English, Francesca Pisano, Héctor Armengod, Philipp Studt, Catherine Hein, Andrew Galdes, Dennis Lamont, Pardis Zomorodi, Christine Mainguy, Michelle Gross, Aron Potash and Achraf Farraj of Latham & Watkins LLP with offices in the US and Brussels acted as lead legal counsels to Skechers. The Company Board has received the written opinion of Greenhill & Co., LLC. J.P. Morgan Securities LLC acted as exclusive financial advisor and Laura Turano, Dotun Obadina, Scott Barshay, Bradley Brown, John Kennedy, Patricia Vaz de Almeida, David Marshall, Mohammed Alvi, Nathan Mitchell, Jarrett Hoffman, Claudine Meredith-Goujon, Jeffrey Samuels, Robert Killip, Alyssa Wolpin, Peter Fisch, Marta Kelly, Chad de Souza and Stefanie Gitler of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as lead legal counsels to 3G Capital. Scott Rolnik, Jay M. Ptashek, Andrew Wright and Nadia Murad of Kirkland & Ellis LLP serving as legal counsel to 3G Capital. D.F. King & Co., Inc. served as information agent to Skechers. 3G Fund Vi, L.P., fund managed by 3G Capital, Inc completed the acquisition of Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others on September 12, 2025.

Announcement • May 05

3G Fund Vi, L.P., fund managed by 3G Capital, Inc. entered into an Agreement and Plan of Merger to acquire Skechers U.S.A., Inc. (NYSE:SKX) for $9.7 billion.

3G Fund Vi, L.P., fund managed by 3G Capital, Inc. entered into an Agreement and Plan of Merger to acquire Skechers U.S.A., Inc. (NYSE:SKX) for $9.7 billion on May 4, 2025. Under the terms of the definitive merger agreement (the “Merger Agreement”), 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30% to Skechers’ 15-day volume-weighted average stock price. The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit (the “LLC Unit”) in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers (the “New LLC”). Both the Cash Consideration and Mixed Election Consideration are available to each share of Skechers stock on the same terms, regardless of whether it is Class A or Class B shares of Skechers stock. In connection with entering into the Merger Agreement, on May 4, 2025, Skechers entered into a support agreement with Robert Greenberg and other members of the Greenberg Family (each, a “Supporting Stockholder”), pursuant to which each Supporting Stockholder has agreed to, among other things, elect to receive the Mixed Election Consideration in the transaction. The Skechers Board formed an independent committee of independent directors to evaluate the transaction. Following the completion of the transaction, Skechers will continue to execute its ongoing strategic initiatives including designing award-winning and innovative product, international development, direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure and technology. Upon completion of the transaction, the Company’s common stock will no longer be listed on the New York Stock Exchange, and Skechers will become a private company. The transaction will be financed through a combination of cash provided by 3G Capital as well as debt financing that has been committed by JPMorgan Chase Bank, N.A. In case of termination, Skechers will be required to pay 3G Capital, Inc. a termination fee of $339,883,891. In addition, 3G Capital, Inc. will be required to pay the Company a termination fee of $534,103,258. As of May 6, 2025 the transaction does not trigger any variations or changes to Accent’s distribution agreement with Skechers. The transaction is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended and the Registration Statement has become effective in accordance with the provisions of the Securities Act of 1933, as amended. The transaction is expected to close in the third quarter of 2025. Skechers stockholders holding approximately 60% of the combined voting power of the outstanding shares of Skechers common stock have approved the transaction by written consent. As a result, no further actions by other Skechers stockholders will be required to approve the transaction. This transaction was unanimously approved by the Skechers board of directors. Greenhill & Co., LLC acted as exclusive financial advisor and Steven B. Stokdyk, Joshua M. Dubofsky and Andrew Clark of Latham & Watkins LLP acted as lead legal counsels to Skechers. The Company Board has received the written opinion of Greenhill & Co., LLC. J.P. Morgan Securities LLC acted as exclusive financial advisor and Scott A. Barshay, Laura C. Turano and Dotun O. Obadina of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as lead legal counsels to 3G Capital, with Kirkland & Ellis LLP serving as financing legal counsel.

Luxury Industry Growth	12.25%
Revenue growth rate	13.90%
Return on equity	13.63%
Net Margin	7.07%
Last Earnings Update	30 Jun 2025

Date	Revenue	Earnings	G+A Expenses
30 Jun 25	9,412	665	4,120
31 Mar 25	9,129	635	3,970
31 Dec 24	8,969	639	3,863
30 Sep 24	8,718	627	3,761
30 Jun 24	8,395	580	3,629
31 Mar 24	8,250	592	3,494
31 Dec 23	8,000	546	3,366
30 Sep 23	7,918	534	3,278
30 Jun 23	7,772	475	3,175
31 Mar 23	7,627	412	3,075
31 Dec 22	7,445	373	2,969
30 Sep 22	7,221	700	2,861
30 Jun 22	6,901	717	2,737
31 Mar 22	6,695	764	2,646
31 Dec 21	6,310	742	2,526
30 Sep 21	5,984	392	2,407
30 Jun 21	5,730	354	2,312
31 Mar 21	4,800	148	2,092
31 Dec 20	4,613	99	2,072
30 Sep 20	4,619	105	2,025
30 Jun 20	4,675	144	2,001
31 Mar 20	5,208	287	2,073
31 Dec 19	5,243	347	1,995
30 Sep 19	4,993	334	1,884
30 Jun 19	4,814	322	1,817
31 Mar 19	4,689	292	1,796
31 Dec 18	4,663	301	1,806
30 Sep 18	4,554	187	1,774
30 Jun 18	4,470	189	1,736
31 Mar 18	4,359	203	1,656
31 Dec 17	4,181	179	1,573
30 Sep 17	3,973	253	1,501
30 Jun 17	3,821	225	1,424
31 Mar 17	3,673	240	1,338
31 Dec 16	3,577	243	1,278
30 Sep 16	3,535	266	1,224
30 Jun 16	3,448	268	1,188
31 Mar 16	3,371	273	1,135
31 Dec 15	3,159	232	1,085
30 Sep 15	3,004	224	1,033
30 Jun 15	2,822	209	971
31 Mar 15	2,607	164	923
31 Dec 14	2,387	139	872
30 Sep 14	2,268	131	832

Data	Last Updated (UTC time)
Company Analysis	2025/09/13 15:02
End of Day Share Price	2025/09/11 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
John Staszak	Argus Research Company
Brian McNamara	Berenberg
Laurent Vasilescu	BNP Paribas

This company has been acquired

Skechers U.S.A Past Earnings Performance

Past criteria checks 4/6

Key information

Recent past performance updates

Second quarter 2025 earnings: EPS and revenues exceed analyst expectations

First quarter 2025 earnings: EPS exceeds analyst expectations

Skechers U.S.A., Inc. to Report Q1, 2025 Results on Apr 24, 2025

Full year 2024 earnings: EPS misses analyst expectations

Skechers U.S.A., Inc. to Report Q4, 2024 Results on Feb 06, 2025

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

Recent updates

Skechers U.S.A., Inc. to Delist the Common Stock from the NYSE

3G Fund Vi, L.P., fund managed by 3G Capital, Inc completed the acquisition of Skechers U.S.A., Inc. (NYSE:SKX) from Skechers Voting Trust, FMR LLC, The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), Greenberg Family Trust and others.

Second quarter 2025 earnings: EPS and revenues exceed analyst expectations

Runners Go Hands Free with New Skechers AERO Series Slip-ins

Skechers Performance Introduces SKX Full-Court Press Basketball Shoes

Skechers Responds to Kizik’s Patent Lawsuit

HandsFree Labs, Inc. and Kizik Files Patent Infringement Lawsuit Against Skechers USA, Inc

Skechers Performance Opens New Chapter of Technical Running Innovation

Skechers Sprints Past Bid - Strong Sell

Skechers Football Takes Control of the Pitch with New SKX_2 Boot

Skechers U.S.A., Inc.(NYSE:SKX) dropped from Russell 1000 Growth Index

Investor sentiment improves as stock rises 29%

Skechers AERO Series Opens New Chapter of Technical Running Innovation

New major risk - Revenue and earnings growth

3G Fund Vi, L.P., fund managed by 3G Capital, Inc. entered into an Agreement and Plan of Merger to acquire Skechers U.S.A., Inc. (NYSE:SKX) for $9.7 billion.

Consensus EPS estimates fall by 15%

First quarter 2025 earnings: EPS exceeds analyst expectations

Skechers: Be Greedy When Others Fear Tariffs

Price target decreased by 8.0% to US$68.47

Price target decreased by 8.1% to US$72.47

Price target decreased by 8.1% to US$73.40

Skechers U.S.A., Inc., Annual General Meeting, May 20, 2025

Investor sentiment deteriorates as stock falls 15%

Skechers Football Releases First Harry Kane Player Edition Boot

Skechers U.S.A., Inc. to Report Q1, 2025 Results on Apr 24, 2025

Co-Founder recently sold US$2.0m worth of stock

Skechers: Undervalued And Gaining Market Share

Co-Founder recently sold US$3.3m worth of stock

Co-Founder notifies of intention to sell stock

Investor sentiment deteriorates as stock falls 15%

Full year 2024 earnings: EPS misses analyst expectations

Skechers U.S.A., Inc. Provides Earnings Guidance for the First Quarter and Full Year of 2025

Skechers USA Remains A Solid Prospect For Growth And Value Investors Alike

Skechers U.S.A., Inc. to Report Q4, 2024 Results on Feb 06, 2025

Skechers: Slight Shadows On Q4 Outlook

Co-Founder recently sold US$693k worth of stock

Insufficient new directors

Now 21% undervalued after recent price drop

Now 23% undervalued after recent price drop

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

Skechers' Q3 Was Strong

Skechers U.S.A., Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year 2024

Skechers: Lacing Up For Earnings Growth, Current Prices Attractive For The Long Term

Skechers U.S.A., Inc. to Report Q3, 2024 Results on Oct 24, 2024

Skechers: China's Weakness Was An Overreaction (Rating Upgrade)

Co-Founder notifies of intention to sell stock

Calculated Alliances, Global DTC Expansion, And Innovative Comfort Tech Fuel Brand's Ascension

Skechers Is An Excellent Long-Term Buy And Hold

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Revenue & Expenses Breakdown

Earnings and Revenue History

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Return on Equity

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

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