Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Skechers CEO: It’s a Wonderful Time to Be in the Shoe Business

Details

  • Description

    Skechers CEO Robert Greenberg on the company’s growth and outlook.

  • Duration 6:01
  • Date

Clips

Also in this playlist...

Latest Business Leaders

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Investors are running back to Skechers this Valentine's Day take a look the stock skyrocketing.

Twelve plus percent right now.

So huge intraday move after the company absolutely crushed expectations for its fourth quarter blowing away sales and earnings estimates.

And in my hand I have to ask why don't they make these in my size.

Total sparkle -- right joining me now live from -- have -- Los Angeles at about where else right Robert of course they're in Los Angeles Robert Greenberg -- the Skechers chairman.

And CEO you're the founder of -- a company I guess we're all the time LA gear so this this is not a surprise to me but as we show up.

An array of your colorful products right here.

A lot of people are saying well not only did they swing to a gain here but 40% increase in sales 72%.

Jump in domestic sales.

And the list goes on every single metric you did beautifully what changed from the year ago.

To just a wonderful time to be in the shoe business -- Color is raging.

Comfort is a raging.

And everybody looks the same in the streets except issues.

Casual Friday has become casual America.

Then -- nowadays will travel the world to get off the plane anywhere in the world everybody looks the same.

So it's shoes -- status that they are just.

The greatest success through you can buy and besides people like -- -- but they love issues.

That's very true and Robert you know I'm holding up a pair.

May be true can get a shot here nobody's gonna mistake this as casual at all if it jumps out at you.

How you design these things for your designers and tell me -- how do you come up with these because it is resonating right now with the American public.

Is that a child's -- I don't know and I don't -- -- -- -- it is it's a child's -- and by the way we could make what are -- size -- really like.

Yeah we can take for you it was for you we can make a brilliant -- -- and that's those twinkle toes that's what both those.

You know we we first of all we have a over 30% of -- domestic businesses children's.

Bend over got a lot of sensational characters twinkle toes and al-Qaeda animated characters that we use the market product.

But we have a very talented staff of forty designers then.

Great factories around the world that make the product through.

And -- Lotte shopping.

A lot of trending and seeing what people -- wearing and we interpret everything and give it out little touches and that makes up part of unique.

I would say though this is not just sort of all sizzle no steak because now you've got.

The marathon -- that Catholic easy I'm amazed this is the number one marathon are in the US wearing you're running shoes at this point.

Just take you out what -- the rhetorical question it obviously takes you into a hold.

Different part of the competitive world here.

I'm thinking Nike I'm thinking -- Brooks running shoes -- Warren Buffett company needless to say but suddenly now do you find yourself.

In real demand by competitive -- Yes we do.

Well give the company is now at 41 years old and after all that time we've learned how to make all sorts of great products and different technologies.

Then.

Running his.

The last the front there it's the biggest piece of the entire -- industry.

As you know like he does almost 45 billion dollars a year in sales.

And they the biggest what you Wear company in the world and all based on running.

You know we have are -- our whole our whole crew outfitted here in fact we can show some of archives.

Wearing all of your shoes but putting all of that aside your your almost gonna take on the other members of the world as well it may be will the -- -- are going into.

Look at our models -- some -- from as your you're going into.

Apparel at this point that's -- that's an even more competitive world isn't it Robert how are you gonna win there.

-- but we're -- we're not doing that directly we have licensees for that.

That are in the apparel industry.

Our power active well licensee is silly and -- There -- -- -- billion dollar company.

On their role in -- making the sketches apparel.

Robert raising the minimum wage the president talked about that -- would that affect US at all.

I don't think it well.

We were in the moderate price -- in this part of the business and I really and I don't think that affects us.

What does affect UIV or boat when you are a businessman you -- entrepreneur or.

If you have the president's ear what would you say to him about the best way to freely invigorate business in America.

Well I think you should lower tariffs on -- was so that if people won't have to pay that extra tax when they -- because.

You know that most all -- was made off shore up.

And the -- rates go all the way up to 50%.

From -- -- and does it's unfair.

Well I want you obviously -- to manufacture here you cannot really step that up.

Well that's really impossible because you know and you few factories in Asia your average worker makes 100 dollars a month.

And here it would be more than a hundred dollars a day so there's.

-- lives spread that I don't think we'll have a check -- Okay Robert thank you very much it's it's a great day for your company we will be watching this analysts say watch -- -- because sometimes things change a lot as we know in the very fickle apparel and shoe Wear business but.

-- congratulations on a recorder thank you very much.

Thank you -- -- Robert Greenberg is Skechers chairman and CEO yes.

He founded LA gear -- -- interesting point that he makes that it's so much less expensive still.

At this point to manufacture footwear in Asia closing bell ringing.

Load More