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Deckers (DECK) Stock Up 50% in Past Six Months: Here's Why
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Deckers Outdoor Corporation (DECK - Free Report) looks quite promising, thanks to its proven business strategies. In keeping with the changing trends, management has been constantly developing its e-commerce portal to capture incremental sales. This Goleta, CA-based company is focused on product innovations and store expansion. Markedly, this footwear and accessories designer’s shares have surged 50% in the past six months, outperforming the Zacks Shoes and Retail Apparel industry’s 14.4% growth. This industry currently ranks in the top 25% among all the Zacks classified industries.
Additionally, analysts look optimistic about the stock. For fiscal 2023, the Zacks Consensus Estimate for Deckers’ sales and earnings per share (EPS) is currently pegged at $3.50 billion and $18.11 each, suggesting growth of 11.2% and 11.4%, respectively, from the year-ago period’s corresponding figures. For fiscal 2024, the consensus estimate for sales and EPS presently stands at $3.86 billion and $21.19, respectively, indicating an increase of 10.1% and 17% each from the comparable previous fiscal year’s actuals.
A Value Score of A coupled with an impressive long-term expected earnings growth rate of 18% further speaks volumes for this current Zacks Rank #2 (Buy) stock.
Let’s Analyze Further
Deckers’ focus on expanding its brand assortments, bringing a more innovative line of products, targeting consumers digitally and optimizing omnichannel distribution bode well. Greater acceptance of the UGG brand's diverse product line along with the progress in Europe and Asia Pacific bode well. HOKA ONE ONE brand continues to build its customer base through a combination of disruptive product innovation and a disciplined marketing approach. In fact, DECK looks forward to building HOKA ONE ONE into a multibillion-dollar major player, elevating UGG as a global lifestyle brand with diverse product offerings around the year.
Image Source: Zacks Investment Research
Deckers is focused on opening smaller concept omnichannel outlets and expanding programs such as Retail Inventory Online; Infinite UGG; Buy Online, Return In Store; and Click and Collect to enhance customers’ shopping experience. The company plans to open additional retail stores for the HOKA brand and to continue exploring opportunities to strategically expand HOKA brand retail store fleet.
Apart from these efforts, Deckers remains committed to product and marketing strategies that are more skewed toward customers. It has been implementing customer relationship management software and concentrating on loyalty programs. Moreover, the company has been focusing on expanding its product categories according to the customer purchasing trends that change with the weather. Deckers has been paying more emphasis on casual boots, winter and weather boots and casual shoes.
Overall, Deckers’ focus on bolstering its e-commerce competencies and investments in digital marketing will continue aiding growth. Strength in DECK’s HOKA ONE ONE label and direct-to-consumer channel will keep driving growth.
Oxford Industries, which designs, sources, markets and distributes lifestyle products and other brands, sports a Zacks Rank #1 (Strong Buy). Oxford Industries has a trailing four-quarter earnings surprise of 18.9%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for OXM’s current financial-year EPS suggests growth of 34.2% from the year-ago reported number.
lululemon athletica is a yoga-inspired athletic apparel company. LULU has a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 27.7% and 27.5%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 6.7%, on average.
Skechers, a footwear dealer, has a Zacks Rank of 2 at present. SKX has a trailing four-quarter earnings surprise of 4.7%, on average.
The Zacks Consensus Estimate for Skechers’ current financial-year sales and EPS suggests growth of 8.6% and 34.3%, respectively, from the year-ago corresponding figures.
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Deckers (DECK) Stock Up 50% in Past Six Months: Here's Why
Deckers Outdoor Corporation (DECK - Free Report) looks quite promising, thanks to its proven business strategies. In keeping with the changing trends, management has been constantly developing its e-commerce portal to capture incremental sales. This Goleta, CA-based company is focused on product innovations and store expansion. Markedly, this footwear and accessories designer’s shares have surged 50% in the past six months, outperforming the Zacks Shoes and Retail Apparel industry’s 14.4% growth. This industry currently ranks in the top 25% among all the Zacks classified industries.
Additionally, analysts look optimistic about the stock. For fiscal 2023, the Zacks Consensus Estimate for Deckers’ sales and earnings per share (EPS) is currently pegged at $3.50 billion and $18.11 each, suggesting growth of 11.2% and 11.4%, respectively, from the year-ago period’s corresponding figures. For fiscal 2024, the consensus estimate for sales and EPS presently stands at $3.86 billion and $21.19, respectively, indicating an increase of 10.1% and 17% each from the comparable previous fiscal year’s actuals.
A Value Score of A coupled with an impressive long-term expected earnings growth rate of 18% further speaks volumes for this current Zacks Rank #2 (Buy) stock.
Let’s Analyze Further
Deckers’ focus on expanding its brand assortments, bringing a more innovative line of products, targeting consumers digitally and optimizing omnichannel distribution bode well. Greater acceptance of the UGG brand's diverse product line along with the progress in Europe and Asia Pacific bode well. HOKA ONE ONE brand continues to build its customer base through a combination of disruptive product innovation and a disciplined marketing approach. In fact, DECK looks forward to building HOKA ONE ONE into a multibillion-dollar major player, elevating UGG as a global lifestyle brand with diverse product offerings around the year.
Image Source: Zacks Investment Research
Deckers is focused on opening smaller concept omnichannel outlets and expanding programs such as Retail Inventory Online; Infinite UGG; Buy Online, Return In Store; and Click and Collect to enhance customers’ shopping experience. The company plans to open additional retail stores for the HOKA brand and to continue exploring opportunities to strategically expand HOKA brand retail store fleet.
Apart from these efforts, Deckers remains committed to product and marketing strategies that are more skewed toward customers. It has been implementing customer relationship management software and concentrating on loyalty programs. Moreover, the company has been focusing on expanding its product categories according to the customer purchasing trends that change with the weather. Deckers has been paying more emphasis on casual boots, winter and weather boots and casual shoes.
Overall, Deckers’ focus on bolstering its e-commerce competencies and investments in digital marketing will continue aiding growth. Strength in DECK’s HOKA ONE ONE label and direct-to-consumer channel will keep driving growth.
Eye These Solid Picks Too
We highlighted three better-ranked stocks, namely, Oxford Industries (OXM - Free Report) , lululemon athletica (LULU - Free Report) and Skechers (SKX - Free Report) .
Oxford Industries, which designs, sources, markets and distributes lifestyle products and other brands, sports a Zacks Rank #1 (Strong Buy). Oxford Industries has a trailing four-quarter earnings surprise of 18.9%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for OXM’s current financial-year EPS suggests growth of 34.2% from the year-ago reported number.
lululemon athletica is a yoga-inspired athletic apparel company. LULU has a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for lululemon athletica’s current financial-year sales and EPS suggests growth of 27.7% and 27.5%, respectively, from the year-ago corresponding figures. LULU has a trailing four-quarter earnings surprise of 6.7%, on average.
Skechers, a footwear dealer, has a Zacks Rank of 2 at present. SKX has a trailing four-quarter earnings surprise of 4.7%, on average.
The Zacks Consensus Estimate for Skechers’ current financial-year sales and EPS suggests growth of 8.6% and 34.3%, respectively, from the year-ago corresponding figures.