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3d ago

Deckers Brands Beats Q1 Revenue Estimates on Global Hoka and Ugg Demand

It backed a Q2 sales outlook of $1.38 billion to $1.42 billion with EPS up to $1.55 as it eyes new Hoka flagship stores in Berlin and Milan

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Overview

  • Q1 net sales grew 16.9% to $964.5 million, beating consensus estimates of $900.3 million.
  • Net income rose to $139.2 million, or $0.93 per diluted share, up from $115.6 million a year earlier.
  • International sales surged 49.7% to $463.3 million, offsetting a 2.8% drop in U.S. revenue.
  • Hoka and Ugg brands led the gains with net sales of $653.1 million and $265.1 million, respectively, up 19.8% and 18.9% year over year.
  • The company set second-quarter guidance for net sales of $1.38 billion to $1.42 billion and EPS of $1.50 to $1.55, and it plans new Hoka flagship stores in Berlin and Milan.