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Deckers Outdoor Corporation Reports Second Quarter 2013 Financial Results

Stocks in this article: DECK

Deckers Outdoor Corporation (NASDAQ: DECK) today announced financial results for the second quarter ended June 30, 2013.

Second Quarter Review

  • Net sales decreased 2.5% to $170.1 million compared to $174.4 million for the same period last year.
  • Gross margin was 41.1% compared to 42.2% for the same period last year.
  • Diluted loss per share was $(0.85) compared to $(0.53) for the same period last year.
  • UGG® brand sales decreased 6.9% to $100.4 million compared to $107.9 million for the same period last year.
  • Teva® brand sales decreased 8.4% to $31.2 million compared to $34.1 million for the same period last year.
  • Sanuk® brand sales increased 7.5% to $30.1 million compared to $28.0 million for the same period last year.
  • Retail sales increased 29.1% to $32.5 million compared to $25.2 million for the same period last year; same store sales decreased 5.3% for the thirteen weeks ending June 30, 2013 compared to the thirteen weeks ending July 1, 2012.
  • eCommerce sales increased 34.2% to $10.7 million compared to $8.0 million for the same period last year.
  • Domestic sales decreased 3.0% to $110.1 million compared to $113.5 million for the same period last year.
  • International sales decreased 1.6% to $60.0 million compared to $61.0 million for the same period last year.

“We are pleased with the second quarter, and while it is our smallest quarter it was an important transition period for the UGG brand that has positioned the Company for a good back half of the year, ” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “We experienced solid sell-through of the UGG brand’s spring line in our wholesale and eCommerce channels and we believe the consumer response to the initial deliveries of our new transitional fall product has been very positive. While less than favorable weather negatively impacted sandal sales for the Teva and Sanuk brands, we reacted quickly to deliver bottom line results that were better than plan. We remain optimistic about our ability to expand sales and margins as we head into our highest volume sales quarters, and we continue to be excited about the many long-term growth opportunities that we believe exist for our business.”

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