Outdoor footwear brands do well
24/10/2008
In contrast to many other consumer products companies, some outdoor footwear brands are achieving good results.
Deckers is the most recent to have posted better-than-expected third-quarter results, driven, it said, by strong demand for its UGG products. The company has raised its 2008 outlook.
Non-US sales of UGG footwear surged increased by 147% during the quarter. Sport sandal brand Teva is another of the Deckers lines to have performed well.
Chief executive, Angel Martinez, said in a statement: “Our record third-quarter performance was fuelled primarily by the growing global demand for our diversified line of UGG footwear products. We continue to see robust full-price selling for our UGG brand throughout our retail account base, which is particularly rewarding given the difficult macroeconomic environment, and further underscores the strength of the brand.
“We were also pleased with the results from our Teva brand’s first truly complete fall performance and lifestyle line of closed-toe footwear, as consumers responded positively to several new styles from the collection. Looking ahead, we remain optimistic about our future prospects, reflected in both our heightened outlook for the remainder of 2008 and our recently raised long-term growth target of $1 billion in sales by 2012.”
Earlier this month, Wolverine World Wide posted a higher-than-expected quarterly profit, aided by strong sales of its Merrell brand. It, too, raised its full-year earnings outlook.
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