Deckers Brands sales jump 10% in Q3
Goleta, California-based footwear, accessories and apparel group Deckers Brands announced on Thursday net sales of $1.188 billion in the third quarter, up 10.2 percent from $1.078 billion in the same prior-year period, as the company experienced strong growth across its brand portfolio.
In the third quarter ended December 31, 2021, the company’s popular Hoka One One running shoe brand saw its sales rise 30.3 percent to $184.6 million, while its Ugg boot business posted a rise of 7.9 percent to $945.9 million.
Sandal brand Teva experienced similar growth, achieving an increase of 31.4 percent to $20.6 million. Its casual footwear label Sanuk, however, saw net sales for the third quarter decrease 13.4 percent to $6.1 million. Likewise, the company’s 'other brands' segment, primarily made up of the Koolaburra business, posted quarterly net sales of $30.6 million, down 16.6 percent from $36.7 million.
Broken down by distribution channel, wholesale net sales for the third quarter increased 7.3 percent to $598.4, while direct-to-consumer (DTC) net sales increased 13.4 percent to $589.4 million. Comparable DTC net sales increased 10.7 percent over the same period last year.
Domestic net sales for the third quarter slighted climbed to $796.1 million and International net sales for the third quarter increased 27.5 percent to $391.6 million. Diluted earnings per share was $8.42 compared to $8.99 for the same period last year.
"Our portfolio of brands delivered Deckers' largest quarter in history, with balanced growth among our direct-to-consumer and wholesale channels and across multiple geographies," said Dave Powers, president and chief executive officer.
"We believe Hoka and Ugg are two of the strongest brands in the footwear industry, which are complimented by our strong operating model and fortified balance sheet. While we have continued to experience unprecedented demand for our brands, we are still navigating a challenging supply chain and pandemic environment.”
Looking ahead, Deckers currently expects its full-year net sales to be in the range of $3.03 billion to $3.06 billion. Annual diluted earnings per share are expected to be in the range of $14.50 to $15.15.
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