Good performance for Deckers Brands in Q3 2018

Worldwide
Published:  02 February, 2018

Net sales for the U.S. headquartered designer, marketer and distributor of footwear, apparel and accessories, increased +6.6% to US$810.5 million in the third quarter of 2018, compared with US$760.3 million in the same period the previous year. 

On a constant currency basis, net sales increased +6.3% for the third fiscal quarter ended December 31, 2017. Gross margin was 52.2% compared with 50.5% in the same quarter the previous year, while operating income stood at US$193.2 million (Q3 2017: US$53.3 million). Non-GAAP operating income was US$203.1 million (Q3 2017: US$182.2 million).

Net sales of the UGG boots increased +4.3% to US$734.7 million, and sales of the Teva brand were also up +33.4% to US$19.5 million.

During the quarter, the Group repurchased about 361,000 shares of its common stock for a total of US$24.7 million and says it still intends to repurchase approximately US$75 million worth of stock prior to the end of fiscal year 2018.

For full 2018, Deckers says it expects net sales to be in the range of US$1,873-1,878 million, and gross margin to be approximately 49%.

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