On a constant currency basis, sales were up by 18.4%. For the full year, the wholesale channel had a net sales increase of 11.6% to US$2.16 billion, while direct-to-consumer (DTC) net sales were up by 20.8% to US$1.47 billion.

Domestic net sales for the year were up by 13.1% to US$2.45 billion, while international net sales had a year-on-year increase of 19.7% to US$1.18 billion. The gross margin for the year was 50.3% (down from 51%) and operating income totalled US$652.8 million, down 15.6%.

The Hoka brand achieved a net sales increase of 58.5% for the year to US$1.41 billion, while Ugg saw sales fall by 2.7% to US$1.93 billion. Teva had an increase of 12.5% to US$183.1 million, while Sanuk was down by 11.9% to US$38 million and Deckers’ other brands, primarily composed of Koolaburra, saw net sales fall by 9.6% to US$64.1 million.

For the fourth quarter of the 2023 fiscal year alone, net sales for Deckers were up by 7.5% to US$791.6 million, with an increase of 10.2% on a constant currency basis. The wholesale channel saw net sales drop by just 0.09% to US$448.4 million, while DTC net sales were up by 19.5% to US$343.1 million.

Domestic net sales for the period were up by 4.1% to US$542.4 million, while international net sales increased by 15.8% to US$249.1 million. The gross margin for the quarter was 50%, up from 48.7%, and the operating income result was US$105.9 million, up 30.3%.

Hoka brought in US$397.7 million in net sales in the period, up by 40.3%, while Ugg had a decline of 16.1% to US$314.3 million. Teva saw growth of 14.6% to US$62.8 million and Sanuk had a drop of 10.5% to US$10.7 million. Finally, other brands primarily composed of Koolaburra, had a net sales decrease of 46.2% to US$6 million.

Looking forward to the 2024 fiscal year, Deckers is forecasting net sales around US$3.95 billion, with a gross margin around 52%.

President and CEO Dave Powers said: “Fiscal year 2023 was an exceptional year for the Deckers organisation, delivering 15% revenue growth and increasing earnings per share nearly 20%.

“We continue to deliver record results, including the Hoka brand adding more than half a billion dollars of top-line revenue. We are energised for the path ahead as we continue investing behind our long-term strategic priorities, while maintaining a disciplined approach to managing our operating model to drive sustainable future success.”