Soaring Sales of Hoka and Ugg Shoes Send Deckers Stock to a Record High

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Key Takeaways

  • Deckers Outdoor reported fiscal 2024 fourth-quarter income and profit that surpassed analysts' estimates.
  • Soaring request for Hoka and Ugg marque shoes helped substance Deckers' net beat.
  • Deckers shares surged to an all-time precocious pursuing nan news.

Deckers Outdoor (DECK) shares skyrocketed complete 13% to an all-time precocious successful early trading Friday arsenic nan shaper of manner footwear blew distant quarterly profit estimates connected soaring request for its Hoka and Ugg marque shoes.

The institution posted fiscal 2024 fourth-quarter earnings per stock (EPS) of $4.95, much than $2 supra analysts' estimates compiled by Visible Alpha. Revenue accrued 21% from a twelvemonth agone to $959.8 million, besides supra forecasts. 

Hoka and Ugg Demand Fuels Sales Beat

By brand, Hoka income jumped 34% to $533 million, and Ugg income climbed 15% to $361.3 million. They declined 16% for Teva and 39% for Sanuk, while income of different brands, chiefly composed of Koolaburra, were flat. 

Sales were up 19% to $647.7 cardinal domestically and 25% to $312 cardinal internationally. Direct-To-Consumer (DTC) income gained 21% to $415.2 million, pinch wholesale income climbing 21% to $544.6 million.

CEO Dave Powers said Hoka and Ugg “remain 2 of nan astir admired and well-positioned brands successful nan marketplace.”

Deckers said it anticipates full-year EPS for fiscal 2025 of $29.50 to $30, up from $29.16 successful fiscal 2024. The institution projected gross maturation of astir 10% to $4.7 billion, successful statement pinch expectations. 

Shares of Deckers were 13.3% higher astatine $1,025 arsenic of 11 a.m. ET Friday and person gained complete 52% since nan commencement of nan year.

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