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Deckers Outdoor Corp. (DECK)
by Zacks Equity ResearchJune 18, 2012 | Comments : 0 Recommended this article: (0)
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Management now projects earnings to decline between 9% and 10%. Earlier, the company had forecasted earnings to remain flat. Deckers now expects total revenue growth of 14%, down from 15% forecasted earlier. The company also forecasts a gross profit margin contraction of 250 basis points due to increase in costs of goods sold and higher closeout sales level.
For the second quarter of 2012, management now anticipates 8% growth in total revenue and a loss per share of $0.60. Further, over-reliance on the UGG brand, intense competition and sluggish economic recovery remain matters of concern. Consequently, we have downgraded our recommendation on Deckers to Underperform.
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