Outside the marathon world, Skechers has several prominent endorsement deals with celebrities and former athletes. Skechers recently signed Danielle Bradbery, The Voice Season 4 winner, to be the new face of the brand. Her commercials will begin in spring of 2014 and last through 2015. The company sees the singer as a good follow-up to Carrie Underwood, another former Skechers endorsee. Skechers also renewed deals with Joe Montana and Mark Cuban, who will appear in ads over the next one to two years.
In fiscal 2013, Skechers saw revenue soar 18.3% to $1.85 billion. The company plans on opening 60 to 70 additional corporate-owned retail stores to help boost its sales growth and new product categories. Analysts see the company posting sales of $2.1 billion in fiscal 2014, an increase of 13.5%. In fiscal 2015, analysts think the company could also post double-digit growth, with expected sales of $2.3 billion. Skechers has a market capitalization of $1.8 billion.
Shares of Skechers increased 82% in 2013 and are up 14% already in 2014, as the company continues to innovate and expand into additional categories.
Skechers shares are now trading near their 52-week high of $37.83, after Monday's 2% increase and Tuesday's strong opening. More publicity from the race and analyst coverage could see shares hit new highs.Investors should consider the large growth available for Skechers in a highly competitive market. At the time of publication, the author held no positions in any of the stocks mentioned. Follow @chriskatje This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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