Record Q3 sales for Deckers
02/02/2015
It biggest brand, UGG, grew sales by 6.5% to $736 million, although while Teva sales decreased 12.1% to $13.6 million and Sanuk’s shrank 7.9% to $20.5 million.
Other Brands increased 96.5% to $14.6 million, primarily due to a $7.2 million increase in sales for the HOKA ONE ONE brand.
"Our third quarter performance represents an important inflection point in the evolution of the UGG brand product line," said Deckers CEO Angel Martinez. "Full price selling of casual boots, weather boots and specialty classics exceeded expectations and in some cases outpaced our inventory investments. At the same time, demand for core Classic collection accelerated as the quarter progressed but overall sales were down due in part to a slow October and November selling period and tough year-over-year comparisons. Along with foreign exchange headwinds, this led to the revenue shortfall for the quarter.
"Our recent results indicate that our strategic initiatives aimed at diversifying the business are working. Consumers are adopting our new footwear collections faster than we anticipated while also shifting more of their purchases to our digital channel driven by our successful global omni-channel initiatives."
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