2024-05-24 12:27:29 ET
Shares of Deckers Outdoor (NYSE: DECK) have never been higher than they are today. The stock jumped past $1,000 per share this morning after the company released financial results for its fiscal fourth quarter of 2024. As of 9:50 a.m. ET Friday, Deckers stock was up about 12%.
Over the last five years, Deckers stock is up close to 600%, handily outpacing the roughly 87% return for the S&P 500 . In short, the company's shoes are resonating with consumers, particularly its Hoka and Ugg brands. And these trends continued in the fourth quarter with net sales jumping 21% year over year to nearly $1 billion.
Deckers' fourth-quarter sales were particularly strong. But all of its fiscal 2024 was good, with full-year net sales rising 18% compared to fiscal 2023. And management doesn't believe this is the high point for its business. It's guiding for another increase of 10% in fiscal 2025, showing its growth story still has more chapters.
For further details see:
Why Deckers Outdoor Stock Hit a New All-Time High Today Above $1,000 Per Share