Deckers Brands announces full 2022 results

Worldwide
Published:  25 May, 2022
Credit: Hoka

Deckers Brands has released its financial results for the full 2022 financial year as well as the fourth quarter.

The company achieved net sales of US$736 million in the fourth quarter, a year-on-year increase of 31.2%. Wholesale net sales increased by 37.6% to US$448.8 million, while direct-to-consumer (DTC) net sales grew by 22.2% to US$287.2 million.

Domestic net sales in the fourth quarter for the U.S.-based company increased by 37.4% to US$521 million, while international net sales saw growth of 18.2% to US$215.1 million.

The gross margin for the fourth quarter was 48.7%, a decline from a margin of 53.2% in the same period in the previous financial year. Deckers Brands reported operating income of US$81.3 million for the period, up from US$54.6 million.

For the full fiscal year, net sales increased by 23.8% to US$3.15 billion. Wholesale net sales increased by 31% to US$1.94 billion while DTC net sales were US$1.22 billion, up 13.8%.

Domestic net sales in the full year increased by 23.1% to US$2.17 billion, while international net sales grew by 25.3% to US$982.5 million. The gross margin for the year was 51%, down from 54%.

Looking forward to the full 2023 fiscal year, Deckers Brands acknowledged significant uncertainty but forecasted net sales in the range of US$3.45 billion to US$3.5 billion, with a gross margin of around 51.5%.

Dave Powers, President and CEO, said: "Over the last two years, our portfolio of brands has added more than one billion dollars of revenue, while making progress towards key long-term strategies, and maintaining top-tier levels of profitability, despite navigating unprecedented disruption across the global supply chain. I am incredibly proud of our performance over the last couple of years, but with the power of our brands and our people, I am even more excited about the opportunities ahead."