Deckers records increased sales, names new CEO
27/05/2016
The strong performance was led by the Ugg brand which saw net sales increase 13.3% to $245.6 million. There was also an increase of sales of the company’s Teva brand, which saw an 11.3% improvement to $59.1 million. The Sanuk brand suffered a 1.9% decrease in sales to $38.5 million.
There was sales growth both at home and overseas. Domestic net sales for the quarter increased 10.4% to $240.4 million and international sales grew 12.4% to $138.2 million.
For the complete 2015/2016 fiscal year, net sales were up 3.2% to a record $1.875 billion and operating income was $162.1 million, compared to $224.4 million the previous year.
Deckers also announced that Dave Powers is to succeed Angel Martinez as CEO of the brand when he retires on May 31. He will remain as chairman of the board of directors. Mr Powers joined Deckers in June 2012, having previously held senior executive roles with Nike, Timberland and Gap.
“Throughout his career in retail and footwear, and especially during the past four years at Deckers, Dave has exhibited all the qualities that we’ve been looking for in the company’s next CEO,” said Mr Martinez.
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