NEW YORK (TheStreet) -- Shares of footwear company Deckers Outdoor (DECK) are climbing after the company reported first quarter losses per share that were not as steep as expected and revenue that exceeded analysts' consensus view. The maker of UGGs and other footwear brands also increased its FY15 EPS and revenue outlook.
WHAT'S NEW: Deckers said its Q1 loss per share was ($1.07), which was better than analysts' consensus forecast for a ($1.28) per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimate of about $192M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M.
WHAT'S NOTABLE: Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5%, up from its previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49% and an operating margin of approximately 13%. The company expects second quarter EPS of approximately 98c, against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M.