Deckers Brands sees sales surge 78%
Revenues at Goleta, California-based footwear, accessories and apparel group Deckers Brands totaled $504.7 million in the first quarter, up 78.2% from $283.2 million in the same prior-year period, as the company experienced strong growth across its brand portfolio. In constant currencies the increase was 76.1%.
In the first quarter ended June 30, 2021, the company’s popular Hoka One One running shoe brand saw its sales rise 95.5% year over year to $213.1 million, while its Ugg boot business posted a rise of 70.8% in its revenue, which came to $213.0 million.
Sandal brand Teva experienced similar growth, achieving an increase of 65.9% in its sales, which totaled $58.5 million, while casual footwear label Sanuk managed a 13.7% rise in sales of $15.0 million. The company’s “other brands” segment, primarily made up of the Koolaburra business, posted quarterly net sales of $5.0 million, up 435.9% from the prior-year period.
Broken down by distribution channel, Deckers’ quarterly wholesale revenue increased 140.2% to $344.3 million, while its direct-to-consumer sales were $160.4 million, up 14.7% compared to $139.8 million in the same period in the previous year.
Domestic sales for the quarter came to $336.1 million, increasing 82.3% year over year. International sales rose 70.5% to $168.6 million.
First-quarter net income at Deckers was $48.1 million, up from a loss of $8.0 million in the same period in the previous year. Diluted earnings per share came to $1.71, compared to a loss per share of $0.28.
“Our portfolio of brands delivered a strong start to fiscal 2022, which propelled Deckers to its most profitable first quarter ever,” said Deckers president and CEO Dave Powers in a release. “While macro-economic headwinds persist throughout the supply chain, we are confident in the consumer demand for our brands and the resilience of our global omnichannel organization, and we remain dedicated to the foundational, long-term strategies driving Deckers’ success.”
Looking forward, Deckers currently expects its full-year net sales to be in the range of $3.010 billion to $3.060 billion. Annual diluted earnings per share are expected to be between $14.45 and $15.10.
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