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Deckers Outdoor Corporation Reports Third Quarter 2013 Financial Results

Stocks in this article: DECK

Deckers Outdoor Corporation (NASDAQ:DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel and accessories, today announced financial results for the third quarter ended September 30, 2013.

Third Quarter Review

  • Net sales increased 2.7% to $386.7 million compared to $376.4 million for the same period last year.
  • Gross margin improved 90 basis points to 43.2% compared to 42.3% for the same period last year.
  • SG&A expenses as a percent of net sales were 31.1% compared to 26.5% for the same period last year.
  • Diluted earnings per share was $0.95 compared to $1.18 for the same period last year.
  • UGG® brand sales increased 1.3% to $337.0 million compared to $332.8 million for the same period last year.
  • Teva® brand sales increased 0.6% to $18.0 million compared to $17.9 million for the same period last year.
  • Sanuk® brand sales increased 0.5% to $18.4 million compared to $18.3 million for the same period last year.
  • Retail sales increased 34.5% to $52.6 million compared to $39.1 million for the same period last year; same store sales increased 1.9% for the thirteen weeks ending September 29, 2013 compared to the thirteen weeks ending September 30, 2012.
  • eCommerce sales increased 12.2% to $14.9 million compared to $13.3 million for the same period last year.
  • Domestic sales decreased 1.4% to $238.8 million compared to $242.2 million for the same period last year.
  • International sales increased 10.3% to $147.9 million compared to $134.2 million for the same period last year.

“The UGG brand has shown great resiliency over the past year driven by innovative new products and advancements in our marketing, merchandising and selling strategies,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “The fall selling season started well led by demand for our expanded collection of casual shoes and boots. As we move further into the back half of the year, sell-through of our core Classic and slipper collections is accelerating. We are pleased with our current business trends and believe the Company is well positioned for the upcoming holiday period. More importantly, we believe the investments we are making in our brands, distribution platforms and supply chain will strengthen our growth profile and enhance our profitability over the long-term.”

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