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Article: SKECHERS USA NABS LARGER CREDIT LINE.(Skechers U.S.A. Inc.)(Brief Article)(Statistical Data Included)
- Article from:
- Footwear News
- Article date:
- July 15, 2002
- Author:
CopyrightCOPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Skechers USA said last week it had secured a new $200 million line of credit, a financing method the Manhattan Beach, Calif.-based company believes will allow for new growth opportunities as it approaches the $1 billion sales mark.
The new credit line will replace Skechers' previous $150 million line of credit, which was set to expire in December 2003.
CFO David Weinberg told Footwear News the firm now had the added flexibility "to capitalize on many opportunities that we see for Skechers as we grow from a multi-million dollar company to over a billion dollars in sales."
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