Deckers Outdoor Corp. (DECK)
by Zacks Equity ResearchOctober 01, 2012 | Comments : 0 Recommended this article: (0)
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Despite 14% growth expected in the top line, management projects fiscal 2012 earnings to decline between 9% and 10%, and anticipates 1% growth in total revenue and a 31% decline in earnings per share for the third quarter. Deckers 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 fiscal 2012.
Further, over-reliance on the UGG brand, intense competition and sluggish economic recovery still remain matters of concern. Consequently, we downgraded our recommendation on Deckers to Underperform.
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