World Footwear

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Deckers: net sales up by 7.8%

Feb 5, 2019 United States
Deckers: net sales up by 7.8%
The California-based giant focusing in designing, marketing and distributing footwear, apparel and accessories, announced financial results for the third fiscal quarter. Deckers also updated its outlook for the full fiscal year
"With third quarter results delivered and an updated outlook for the full fiscal year 2019, I am pleased to say that we are now well ahead of schedule to deliver on the long term strategic goals we laid out two years ago", commented Dave Powers, President and Chief Executive Officer, adding: "Our third quarter results were propelled by the UGG brand as it successfully delivered a compelling product offering, with thoughtful and controlled distribution. In addition, we achieved impressive growth with our HOKA ONE ONE and Koolaburra brands. These brands significantly contributed to the growth of our business and further highlight the momentum built throughout the entire Deckers organization."

Third Quarter Review

Decker's net sales in the third quarter increased by 7.8% totalling 873.8 million US dollars compared to 810.5 million US dollars for the same period last year. On a constant currency basis, net sales increased by 7.7%. Operating income reached 244.7 million US dollars compared to 193.2 million US dollars for the same period last year.

 

Brand Summary

The UGG brand registered net sales for the third quarter increasing by 3.6% and totalling 761.0 million US dollars compared to 734.7 million US dollars in similar period last year. The Hoka Oka One and Teva brands also presented increasing sales, by 79.2% and 17.5%, respectively totalling 22.9 million US dollars. Sanuk was the only brand of the portfolio with declining net sales: decrease of 7.0% (totalling 12.9 million US dollars).

Channel Summary

Wholesale net sales for the third quarter increased by 12.5% to 482.2 million US dollars compared to 428.8 million US dollars in similar period last year. DTC (direct to consumer) net sales for the third quarter increased by 2.6% to 391.6 million US dollars compared to 381.7 million US dollars for the same period last year. DTC comparable sales for the third quarter increased 1.4% over the same period last year.

Geographic Summary

Domestic net sales for the third quarter increased by 14.2% totalling 573.0 million US dollars (compares to 501.7 million US dollars), while international net sales for the third quarter decreased by 2.6% to 300.8 million US dollars compared to 308.8 million US dollars, in similar period last year.

2019 Outlook

Net sales for the complete fiscal 2019 (to end by the 31st of March) are now expected to be in the range of 1.986 billion US dollars to 2.0 billion US dollars. Gross margin for the period is now expected to be above 50.5%.

Photo by rawpixel on Unsplash

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