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  <TITLE> SKECHERS U.S.A., INC. (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	February 20, 2007
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  	SKECHERS U.S.A., INC.
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	001-14429
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  	95-4376145
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	228 Manhattan Beach Boulevard, Manhattan Beach, California
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  	90266
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	(310) 318-3100
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  At a meeting of the Board of Directors of Skechers U.S.A., Inc. (the "Company") held on February 20, 2007, the Board approved an amendment to the Company's Amended and Restated 1998 Stock Option, Deferred Stock and Restricted Stock Plan that provides for the automatic ratable adjustment of shares underlying awards granted pursuant to the plan in the event of certain equity restructurings.  This summary is qualified by the full text of the amendment, which is attached as exhibit 10.1 hereto and incorporated herein by reference.
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  	Item 8.01 Other Events.
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  On January 19, 2007, the Company announced that it had called for redemption all of its outstanding 4.5% Convertible Subordinated Notes due April 15, 2007 (the "Notes").  The redemption date was February 20, 2007.  The Notes were convertible into shares of the Company's Class A Common Stock at a conversion rate of 38.5089 shares per $1,000 principal amount of the Notes, at any time before 5:00 PM on the last business day before the redemption date.  The aggregate principal amount of Notes outstanding was $90,000,000.  <br><br>Holders of $89,969,000 principal amount of the Notes, which included $2,500,000 of principal amount of the Notes held by the Company, converted their Notes into shares of the Company's Class A Common Stock prior to the redemption date.  As a result of the conversions, 3,464,594 shares of Class A Common Stock were issued to holders of the Notes, which included 96,272 shares issued to the Company that were immediately retired.  In connection with these conversions, the Company paid approximately $500 in cash to holders who elected to convert their Notes, which represented cash paid in lieu of fractional shares.  In addition, the Company paid approximately $32,000 to holders who redeemed their Notes, which represented the redemption price of 100.9% of $31,000 principal amount of the Notes plus accrued interest.  <br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	SKECHERS U.S.A., INC.
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  	&nbsp;&nbsp;
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  <I>
  	February 23, 2007
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  	&nbsp;
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  <I>
  	By:
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  	&nbsp;
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  <I>
  	David Weinberg
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  	&nbsp;
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  <I>
  	Name: David Weinberg
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  <I>
  	Title: Chief Operating Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	10.1
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  	&nbsp;
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  Amendment No. 3 to 1998 Amended and Restated Stock Option, Deferred Stock and Restricted Stock Plan
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_18409.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11575}]
metadata_filer: {"company-data": {"conformed-name": "SKECHERS USA INC", "cik": "0001065837", "assigned-sic": "3140", "irs-number": "954376145", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14429", "film-number": "07645476"}, "business-address": {"street1": "228 MANHATTAN BEACH BLVD", "city": "MANHATTAN BEACH", "state": "CA", "zip": "90266", "phone": "3103183100"}, "mail-address": {"street1": "228 MANHATTAN BEACH BLVD", "city": "MANHATTAN BEACH", "state": "CA", "zip": "90266"}}
text: SKECHERS U.S.A., INC. (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  February 20, 2007
  SKECHERS U.S.A., INC.
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  001-14429
  95-4376145
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  228 Manhattan Beach Boulevard, Manhattan Beach, California
  90266
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  (310) 318-3100
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  At a meeting of the Board of Directors of Skechers U.S.A., Inc. (the "Company") held on February 20, 2007, the Board approved an amendment to the Company's Amended and Restated 1998 Stock Option, Deferred Stock and Restricted Stock Plan that provides for the automatic ratable adjustment of shares underlying awards granted pursuant to the plan in the event of certain equity restructurings.  This summary is qualified by the full text of the amendment, which is attached as exhibit 10.1 hereto and incorporated herein by reference.
  Item 8.01 Other Events.
  On January 19, 2007, the Company announced that it had called for redemption all of its outstanding 4.5% Convertible Subordinated Notes due April 15, 2007 (the "Notes").  The redemption date was February 20, 2007.  The Notes were convertible into shares of the Company's Class A Common Stock at a conversion rate of 38.5089 shares per $1,000 principal amount of the Notes, at any time before 5:00 PM on the last business day before the redemption date.  The aggregate principal amount of Notes outstanding was $90,000,000.
  Holders of $89,969,000 principal amount of the Notes, which included $2,500,000 of principal amount of the Notes held by the Company, converted their Notes into shares of the Company's Class A Common Stock prior to the redemption date.  As a result of the conversions, 3,464,594 shares of Class A Common Stock were issued to holders of the Notes, which included 96,272 shares issued to the Company that were immediately retired.  In connection with these conversions, the Company paid approximately $500 in cash to holders who elected to convert their Notes, which represented cash paid in lieu of fractional shares.  In addition, the Company paid approximately $32,000 to holders who redeemed their Notes, which represented the redemption price of 100.9% of $31,000 principal amount of the Notes plus accrued interest.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  SKECHERS U.S.A., INC.
  February 23, 2007
  By:
  David Weinberg
  Name: David Weinberg
  Title: Chief Operating Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Amendment No. 3 to 1998 Amended and Restated Stock Option, Deferred Stock and Restricted Stock Plan