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Solid quarter at Deckers

Feb 6, 2018 United States
Solid quarter at Deckers
The US-based footwear, apparel and accessories brand announced financial results for the third fiscal quarter ended on the 31st of December
“Our third quarter results, which meaningfully exceeded expectations, underscore the progress we have made developing a stronger foundation to support profitable growth”, stated Dave Powers, President and Chief Executive Officer of Deckers, adding: “Our refined product strategies, enhanced consumer messaging and wholesale account optimization efforts resulted in much stronger full price selling for our brand portfolio during the key holiday season. While more favorable weather also contributed to our year-over-year improvement, hard work by the entire organization enabled us to capitalize on additional upside opportunities. Looking ahead, I am confident that the successful execution of our profit improvement plan, combined with the recently passed tax reform, has Deckers in a great position to deliver increased value to our shareholders in the years ahead.”

In the third quarter, net sales increased by 6.6%, totaling 810.5 million US dollars compared to 760.3 million US dollars for the same period last year. On a constant currency basis, net sales increased by 6.3%. Operating income in the period reached 193.2 million US dollars (compares to 53.3 million US dollars).

UGG brand net sales for the third quarter increased by 4.3% reaching 734.7 million US dollars compared to 704.0 million US dollars for similar period last year. Hoka One One brand net sales for the third quarter increased by 65.7% to 31.8 million US dollars, which compares to 19.2 million US dollars in similar period last year. Teva brand net sales for the third quarter increased by 33.4% (19.5 million US dollars compares to 14.6 million US dollars). Sanuk brand net sales for the third quarter were flat to last year at 13.9 million US dollars.

Wholesale net sales for the third quarter increased by 10.3% to 428.8 million US dollars compared to 388.6 million US dollars for the same period last year. DTC net sales for the third quarter increased 2.7% to 381.7 million US dollars compared to 371.7 million US dollars for the same period last year. DTC comparable sales for the third quarter increased 1.7% over the same period last year.

Domestic net sales
for the third quarter increased by 2.5% totaling 501.7 million US dollars compared to 489.5 million US dollars for the same period last year. International net sales for the third quarter increased 14.0% to 308.8 million US dollars compared to 270.8 million US dollars for similar period last year.

Based on the results announced, Deckers now expects net sales for fiscal year 2018 to be in the range of 1.873 million US dollars to 1.878 million US dollars.

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