Deckers Brands posts Q3 sales increase of 10.2 percent
Third quarter net sales at Deckers Brands increased 10.2 percent to 1.188 billion dollars compared to 1.078 billion dollars for the same period last year. On a constant currency basis, net sales increased 9.7 percent.
Gross margin for the quarter was 52.3 percent compared to 57 percent for the same period last year and diluted earnings per share were 8.42 dollars compared to 8.99 dollars for the same period last year.
"Our portfolio of brands delivered Deckers' largest quarter in history, with balanced growth among our direct-to-consumer and wholesale channels and across multiple geographies," said Dave Powers, president and chief executive officer of the company.
Deckers Brands performance across brand portfolio
The company’s UGG brand net sales for the third quarter increased 7.9 percent to 945.9 million dollars compared to the same period last year.
Hoka brand net sales increased 30.3 percent to 184.6 million dollars and Teva brand net sales increased 31.4 percent to 20.6 million dollars.
Sanuk brand net sales decreased 13.4 percent to 6.1 million dollars and other brands, primarily composed of Koolaburra, net sales for the quarter decreased 16.6 percent to 30.6 million dollars.
The company’s wholesale net sales increased 7.3 percent to 598.4 million dollars, direct-to-consumer (DTC) net sales increased 13.4 percent to 589.4 million dollars and comparable DTC net sales increased 10.7 percent over the same period last year.
Deckers Brands’ domestic net sales increased 3.3 percent to 796.1 million dollars, while international net sales increased 27.5 percent to 391.6 million dollars.
For fiscal 2022, the company said, net sales are now expected to be in the range of 3.03 billion dollars to 3.06 billion dollars, gross margin to be at or slightly below 51.5 percent and diluted earnings per share to be in the range of 14.50 dollars to 15.15 dollars.