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Deckers Outdoor Corporation Reports Record Third Quarter 2011 Financial Results

Stocks in this article: DECK

Deckers Outdoor Corporation (NASDAQGS: DECK) today announced financial results for the third quarter ended September 30, 2011.

Third Quarter Highlights

  • Net sales increased 49.1% to $414.4 million compared to $277.9 million last year.
  • Gross margin increased 1.9 percentage points to 49.0% compared to 47.1% last year.
  • Diluted EPS increased 48.6% to $1.59 compared to $1.07 last year.
  • UGG® brand sales increased 47.3% to $376.7 million compared to $255.8 million last year.
  • International sales increased 113.8% to $156.4 million compared to $73.2 last year.
  • Domestic sales increased 26.0% to $257.9 million compared to $204.7 million last year.
  • Retail sales increased 72.1% to $34.7 million compared to $20.2 million last year.
  • Same store sales rose 15.4%.
  • eCommerce sales increased 18.3% to $10.3 million compared to $8.7 million last year.

“The third quarter was an exceptionally strong period of sales and earnings growth for our Company led by the UGG brand,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “We experienced higher domestic wholesale demand for the UGG brand fall line versus a year ago driven by the introduction of several new styles and new collections, including a broader assortment of men’s product. At the same time, our international sales more than doubled fueled by the growth in wholesale unit volumes in the United Kingdom and Benelux, coupled with an increase in sales resulting from our conversion to wholesale operations in these regions. Our retail stores, which now total 37 worldwide, performed very well during the third quarter highlighted by a 15.4% same store sales increase. The growth of the spring line earlier this year combined with the solid start to fall has created strong momentum for the UGG brand as we head into the holidays.”

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