2023-07-27 16:14:51 ET
Deckers Outdoor Corporation ( NYSE: DECK ) tracked higher in postmarket trading on Thursday after reporting sales rose 10.0% in FQ1 to $675.8M.On a constant currency basis, sales increased 11.1% during the quarter.
Domestic net sales were up 9.1% to $419.5M and international sales increased 11.4% to $256.3M. Sales from the direct-to-consumer channel soared 35.3% to $250.4M.
Brand sales growth: UGG -6.0% to $195.5M, HOKA +27.4% to $420.5M, Teva -18.8% to $48.4M, Sanuk -32.3% to $9.6M, Other brands, primarily composed of Koolaburra,sales decreased 33.9% to $1.8M.
Gross margin jumped to 51.3% of sales vs. 48.0% a year ago. Operating income was $70.7M vs. $56.3M a year ago.
CEO update: "We remain dedicated to delivering results in alignment with our strategic focus to grow DTC and build our presence within international markets. Combined with our disciplined brand marketplace management and nimble operating model, this approach underscores our confidence to achieve our increased full-year outlook and drive long-term success for our brands.""
Looking ahead, Deckers ( DECK ) guided for sales of about $3.98B vs. $4.00B consensus. EPS of $21.75 to $22.25 is anticipated vs. a prior outlook for $21.10 to $21.60 Gross margin is now expected to be approximately 52%.
Shares of Deckers Outdoor ( DECK ) gained 0.27% in the after-hour session to $538.00.
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Deckers Outdoor is boosted by strong HOKA results