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Deckers Brands record 15% increase in sales

Deckers Brands, a shoe, apparel and accessories group based in Goleta, California, saw sales in the second quarter of Thursday as the Hoka One One brand continued to grow strongly despite the Covid-19 pandemic. Announced an increase of 15.0%.

Deckers’ Hoka Oneone brand reported sales of $ 143.1 million-Instagram: @hokaoneone

Second-quarter net sales, which ended September 30, 2020, increased from $ 542.2 million in the year-ago quarter to $ 623.5 million. On a constant currency basis, sales growth was 14.1%.

Running shoe brand Hoka One One saw the most striking quarterly growth, with sales up 83.2% to a total of $ 143.1 million.

Deckers’ largest brand, Ugg, achieved sales of $ 415.1 million, up 2.5% year-over-year. Meanwhile, sandals specialist Teva increased sales by 20.5% to $ 27.7 million.

Meanwhile, casual shoe brand Sanuk saw sales fall 11.4% to a total of $ 9.5 million.

By distribution channel, Deckers saw direct consumer sales up 74.2% to $ 171.9 million and wholesale sales of $ 451.6 million, up 1.8% from the second quarter of the previous year. .. Deckers, which temporarily closed retail stores due to an ongoing health crisis, had reopened 95% of its stores worldwide by the beginning of the second quarter.

The company’s domestic sales were $ 427.4 million, up 19.4% year-over-year. Overseas sales increased 6.4% to $ 196.1 million.

Deckers net income was $ 101.6 million ($ 3.58 per diluted share), up from $ 77.8 million ($ 2.71 diluted share) in the year-ago quarter.

“Deckers’ record performance in the second quarter was the result of a strong brand, a dedicated team, innovative product launches and the ability to capture online demand,” Deckers CEO and President Dave Powers said in a release. Stated. “I am thrilled with the resilience of the organization to deliver strong results in the first half of fiscal year 2021.”

Deckers net sales for the first half of the fiscal year were $ 906.7 million, an increase of 10.7% from $ 819 million in the same six months of 2019. Net income totaled $ 93.6 million, or $ 3.30 per diluted share. $ 58.5 million, or $ 2.01 per diluted share.

Deckers did not provide financial guidance due to the ongoing uncertainty surrounding the coronavirus pandemic, but Powers was optimistic about the company’s outlook.

“Our brand operates from a strong standpoint and continues to overcome the challenges of a pandemic, while the demand for our brand, its strong operating model and sound balance sheet keeps Deckers in the long run. It’s in a good position, “he explained.

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