Deckers Outdoor Corp. (DECK - Free Report) is a retail holding company that owns popular performance and luxury shoe brands UGG, Teva, Sanuk, Koolaburra, and Hoka One One. Their products are sold through specialty domestic retailers, international distributors, and online and in catalogs.
Shares Pop on Great Q3 Earnings
When Deckers reported third-quarter results last month, shares climbed as much as 12.4% on the good numbers.
Sales increased over 7% year-over-year to $938.7 million and EPS hit $7.14 a share, both easily beating consensus estimates. UGG sales rose 2.8% to $781.1 million, but the real standout was Hoke One One; the running shoe brand saw quarterly sales soar over 63% compared to the prior-year quarter. Koolaburra also saw a double-digit sales increase of 94% year-over-year to $39 million.
"Our third quarter results were driven by three of our brands experiencing record levels of quarterly revenue, resulting in an updated outlook that reflects another year of strong top-line growth and earnings expansion,” said CEO Dave Powers.
Deckers now expects full-year fiscal 2020 sales to fall between $2.15 billion and $2.16 billion, up from $2.115 billion to $2.14 billion; full-year EPS guidance was also raised to $9.40 to $9.50 per share versus the prior forecast of $8.90 to $9.05.