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Double digit growth for Deckers


The California-based company has announced net sales increasing by 19.5%. Deckers took the opportunity to update its outlook for the full fiscal year (ending on the 31st of March 2019)

"Fiscal year 2019 is off to a solid start, with our first quarter revenue achieving a record high of 251 million, and continuing the momentum we have built," said Dave Powers, President and Chief Executive Officer. "The UGG Spring Summer and HOKA ONE ONE product offerings drove significant year-over-year sales growth, while Teva also produced solid gains. This quarter's results are a testament that we are successfully progressing towards our long-term objectives and that our brands are well positioned in the marketplace."

First quarter review

Net sales increased 19.5% to 250.6 million US dollars compared to 209.7 million US dollars for the same period last year. On a constant currency basis, net sales increased 17.6%.
Gross margin was 45.9% compared to 43.2% for the same period last year.
Operating loss was 39.4 million US dollars compared to an operating loss of $56.3 million for the same period last year. Non-GAAP operating loss was 38.9 million US dollars this year compared to a loss of $54.3 million last year.
Diluted loss per share was 1.00 US dollars compared to a loss of $1.32 for the same period last year. Non-GAAP diluted loss per share was 0.98 US dollars this year compared to a loss of $1.28 last year.

Brand summary

UGG brand net sales for the first quarter increased 18.9% to 136.5 million US dollars compared to 114.7 million US dollars for the same period last year.
HOKA ONE ONE brand net sales for the first quarter increased 53.1% to 47.0 million US dollars compared to 30.7 million US dollars for the same period last year.
Teva brand net sales for the first quarter increased 6.2% to $40.0 million compared to 37.7 million US dollars for the same period last year.
Sanuk brand net sales for the first quarter decreased 6.6% to 24.4 million US dollars compared to 26.2 million US dollars for the same period last year.

Channel summary

Wholesale net sales for the first quarter increased 22.9% to 177.6 million US dollars compared to 144.6 million US dollars for the same period last year. DTC net sales for the first quarter increased 12.0% to 73.0 million US dollars compared to 65.1 million  US dollars for the same period last year. DTC comparable sales for the first quarter increased 6.2% over the same period last year.

Geographic summary

Domestic net sales for the first quarter increased 17.4% to 141.7 million US dollars compared to 120.7 million US dollars for the same period last year. International net sales for the first quarter increased 22.3% to 108.9 million US dollars compared to 89.0 million US dollars for the same period last year.

Full year outlook

Deckers now expects net sales for the full year to be in the range of 1.930 billion US dollars to 1.955 billion US dollars.
 
 
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