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Shares of Deckers Outdoor Corp (NYSE:DECK), the parent company of popular brands HOKA and UGG, are moving higher in extended trading Thursday after Deckers reported better-than-expected results for the first quarter.
Total revenue increased 22% year-over-year, while earnings jumped 87%. Direct-to-consumer sales were up 24% to $310 million and wholesale net sales climbed 21% to $514.8 million.
HOKA brand sales increased 29.7% and UGG brand sales were up 14%, while Teva brand sales decreased 4.3% and Sanuk brand sales fell 28.4% on a year-over-year basis.
Inventories totaled $753.3 million at the end of the first quarter. Deckers said it ended the quarter with $1.438 billion in cash and cash equivalents.
“Fiscal year 2025 is off to a great start, with HOKA and UGG delivering fantastic first-quarter results that have contributed to our increased outlook for the full fiscal year,” said Stefano Caroti, chief commercial officer and incoming president and CEO of Deckers.
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Outlook: Deckers still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion. Gross margin is now expected to be 54%. Deckers also raised its full-year 2025 earnings guidance to be in the range of $29.75 to $30.65 per share.
DECK Price Action: Deckers Outdoor shares were up 8.26% after hours at $911at the time of publication Thursday, according to Benzinga Pro.
Photo: Nattawit Khomsanit from Shutterstock.
Posted In: DECK
