World Footwear

Companies

Exceeding expectations at Deckers

May 24, 2018 United States
Exceeding expectations at Deckers
The California-based designer, marketer and distributor of casual lifestyle products announced fourth quarter and full year results, marked by record yearly revenue. Expectations surpassed
“We closed fiscal 2018 on a high note as we exceeded expectations for the fifth consecutive quarter", commented Dave Powers, President and Chief Executive Officer, adding: “The entire Deckers team stepped up to the plate and performed exceptionally well despite the numerous challenges the organization faced over the last twelve months. For the full year, we achieved record revenue of 1.9 billion US dollars, drove a 320 basis point improvement in non-GAAP operating margin to 12.4% and increased non-GAAP diluted earnings per share by 50% to a record 5.74 US dollars. I am confident that the company is well positioned to build on its recent financial accomplishments and enhance its industry competitiveness through the continued execution of our operating profit improvement plan and strategic focus."

In the fourth quarter of fiscal 2018 net sales increased by 8.4% totaling 400.7 million US dollars compared to 369.5 million US dollars for the same period last year (on a constant currency basis, net sales increased by 6.6%). For the full year, net sales increased by 6.3% reaching 1.9 billion US dollars compared to 1.8 billion US dollars for the same period last year. On a constant currency basis, net sales increased by 6.1%.


Brand summary

UGG brand net sales for the fourth quarter increased by 6.0% totaling 257.5 million US dollars compared to 243.0 million US dollars for the same period last year. For fiscal 2018, sales increased by 3.9% reaching 1.5 billion US dollars.

HOKA ONE ONE net sales for the fourth quarter increased by 34.1% to 50.4 million US dollars compared to 37.6 million US dollars for the same period last year. For fiscal 2018, sales increased by 46.7% reaching 153.5 million US dollars.

Teva net sales for the fourth quarter increased by 7.3% to 55.0 million US dollars compared to 51.3 million US dollars for the same period last year. For fiscal 2018, sales increased by 13.5% to 133.6 million US dollars. Sanuk net sales for the fourth quarter increased by 10.3% to 35.6 million US dollars compared to 32.3 million US dollars for the same period last year. For fiscal 2018, sales declined by 0.9% to 90.9 million US dollars.

Channel summary

Wholesale net sales for the fourth quarter increased by 1.8% totaling 223.1 million US dollars compared to 219.1 million US dollars for the same period last year. For fiscal 2018, sales increased by 5.7% reaching 1.2 billion US dollars.  DTC net sales for the fourth quarter increased by 18.1% to 177.6 million US dollars compared to 150.4 million US dollars for the same period last year. DTC comparable sales for the fourth quarter increased by 15% over the same period last year. For fiscal 2018, sales increased by 7.4% reaching 715.7 million US dollars and DTC comparable sales increased 7%.


Geographic summary

Domestic net sales for the fourth quarter increased by 8.3% reaching 249.0 million US dollars compared to 230.0 million US dollars for the same period last year. For fiscal 2018, sales increased by 2.9% totaling 1.2 billion US dollars. Growth was also registered in international net sales in the fourth quarter (+8.7% to 151.7 million US dollars). For fiscal 2018, sales increased by 12.4% reaching 729.3 million US dollars.

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