The US shoe and apparel retailer Deckers Brands closed the 2022/23 financial year with a double-digit increase in sales, primarily thanks to strong growth at the Hoka brand. The company announced on Thursday evening that profits had also increased significantly.
In the fiscal year ended March, consolidated sales reached $3.63 billion (EUR 3.37 billion), exceeding the prior-year level by 15.1 percent. Adjusted for exchange rate changes, revenues increased by 18.4 percent.
The growth driver was again the running shoe label Hoka, which managed to jump 58.5 percent in sales to 1.41 billion US dollars. The Teva brand also made gains, with sales up 12.5 percent to $183.1 million.
In the other divisions, on the other hand, things went down. Ugg sales shrank 2.7 percent to $1.93 billion, while Sanuk saw a fall of 11.9 percent to $38.0 million. Total revenue from the other Group brands was $64.1 million, down 9.6 percent year-on-year.
The company was also able to significantly increase its earnings. Operating profit increased by 15.6 percent to 652.8 million US dollars, net income increased by 14.4 percent to 516.8 million US dollars (480.9 million euros).
For the current fiscal year 2023/24, the management is targeting further growth: sales are to be increased to 3.95 billion US dollars. Diluted earnings per share, which reached $19.37 last year, are forecast to improve to between $21.10 and $21.60.