Deckers Outdoor Corporation ( NYSE: DECK ) reported sales growth of 13.4% in FQ3 to $1.35B. Sales were up 17.5% on a constant-currency basis. Direct-to-consumer sales rose 18.7% during the quarter to $699M.
Domestic net sales were up 13.9% to $907M and international sales increased 12.1% to $439M.
Brand sales growth: UGG -1.6% to $930M, HOKA +90.8% to $352M, Teva 48.3% to $30.5M, Sanuk -7.4% to $5.6M, other brands -12.1% to $27M.
Operating income was $362.7M vs. $293.4M a year ago.
CEO update: "The consistent strength of Deckers results thus far in fiscal year 2023, despite macroeconomic and currency headwinds, are the result of our brand marketplace management actions and dedication to long-term strategic priorities. We believe UGG and HOKA are two of the healthiest, well positioned brands in their respective markets, and with the strength of our operating model, Deckers is poised for continued success going forward."
Looking ahead, Deckers ( DECK ) expects full-year sales to land in the range of $3.50B to $3.53B for the full year vs. $3.53B consensus. Gross margin is now expected to be approximately 50.5%.
Shares of DECK rose 0.16% in the after-hour session following the earnings topper. The stock is up about 8% on a year-to-date basis.
The Seeking Alpha Quant Rating on DECK is flashing Buy.
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Deckers Outdoor tops estimates as HOKA, Teva sales shine