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Deckers Brands raises FY22 sales and profit outlook

By Prachi Singh

30 Jul 2021

Business

Image: UGG, Facebook

For the first quarter, Deckers Brands revenue increased 78.2 percent to 504.7 million dollars, while earnings per share increased to 1.71 dollars. The company has raised the full year fiscal 2022 outlook and now expects earnings per share in the range of 14.45 dollars to 15.10 dollars.

“Our portfolio of brands delivered a strong start to fiscal 2022, which propelled Deckers to its most profitable first quarter ever,” said Dave Powers, president and chief executive officer in a release, adding, “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 omni-channel organization.”

Deckers performance across brands and retail channels

The company added that UGG brand net sales for the first quarter increased 70.8 percent to 213 million dollars, while Hoka One One brand net sales increased 95.5 percent to 213.1 million dollars.

The company’s Teva brand net sales increased 65.9 percent to 58.5 million dollars, Sanuk brand net sales increased 13.7 percent to 15 million dollars, while other brands, primarily composed of Koolaburra, net sales for the first quarter increased 435.9 percent to 5 million dollars compared to the same period last year.

The company further said that wholesale net sales for the quarter increased 140.2 percent to 344.3 million dollars, while direct-to-consumer (DTC) net sales increased 14.7 percent to 160.4 million dollars.

The company’s domestic net sales for the first quarter increased 82.3 percent to 336.1 million dollars and international net sales increased 70.5 percent to 168.6 million dollars.

Deckers Brands raises full year outlook

The company said, net sales are now expected to be in the range of 3.010 billion dollars to 3.060 billion dollars, gross margin is now expected to be slightly below 53 percent.

Operating margin is still expected to be in the range of 17.5 percent to 18 percent, while diluted earnings per share are now expected to be in the range of 14.45 dollars to 15.10 dollars.