Deckers Brands increases quarterly sales by almost a quarter and raises annual forecasts

The US shoe and clothing supplier Deckers Brands also achieved significant increases in sales and earnings in the second quarter of the 2023/24 financial year. The company, which includes brands such as Hoka and Ugg, then again set higher goals for the current financial year on Thursday evening.

In the three months ended September 30, Deckers Brands’ consolidated sales were $1.09 billion (1.04 billion euros). This exceeded the level of the previous year’s quarter by 24.7 percent. Adjusted for exchange rate changes, revenue grew by 24.2 percent.

Both main brands contributed to the strong increase: Ugg’s sales increased by 28.1 percent to $610.5 million, Hoka reported an increase of 27.3 percent to $424.0 million. However, revenue for the smaller labels Teva (-28.4 percent) and Sanuk (-28.5 percent) fell significantly.

Net profit grew by almost 76 percent in the second quarter

Thanks to a significantly higher gross margin, the consolidated result developed even more dynamically. Operating profit grew by 75.7 percent to $224.6 million. The reported net profit was 178.5 million US dollars (169.4 million euros), 75.9 percent higher than the corresponding previous year’s value.

Management is now again more optimistic for the entire financial year, which ends on March 31, 2024. Revenue guidance was raised from $3.98 billion to $4.025 billion. Diluted earnings per share target range is now $22.90 to $23.25, up from $21.75 to $22.25 had been.

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