Decker Brands’ net sales up on record Hoka, Ugg revenue
Deckers Brands saw net sales surge to a new record last fiscal year as consumers embraced the company’s leading Hoka and Ugg brands.
Net sales soared 18.2 per cent to $4.29 billion with direct-to-consumer sales up 26.5 per cent to $1.86 billion and wholesale sales jumping 12.6 per cent to $2.43 billion.
Hoka’s sales increased 27.9 per cent to $1.81 billion while Ugg’s climbed 16.1 per cent to $2.24 billion. However, Teva’s sales declined 18.9 per cent to $148.5 million and Sanuk’s sales plunged 33 per cent to $25.4 million. Sales of other brands, led by Koolaburra, rose by 5.9 per cent to $67.9 million.
US domestic sales jumped 16.8 per cent to $2.86 billion while international sales soared 21.1 per cent to $1.42 billion.
The company’s gross margin improved to 55.6 per cent as net income soared 47 per cent to $759.6 million.
“Deckers has grown revenue at a 19 per cent CAGR over the past four years, consecutively delivering a double-digit revenue increase each year, while at the same time more than tripling earnings per share,” said Steve Fasching, Deckers CFO.
“Hoka and Ugg remain two of the most admired and well-positioned brands in the marketplace, each with a robust innovation product pipeline designed to win with global consumers,” said Fasching.
For the current fiscal year, the company forecasts sales to rise by a further 10 per cent to $4.7 billion and its gross margin to reach about 53.5 per cent.
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