Deckers Brands posts record second quarter

Worldwide
Published:  30 October, 2020

The California headquartered footwear and apparel manufacturer posted a 15% revenue increase in the second fiscal quarter ended September 30, 2020, to a record US$623.5 Million.

Gross margin was 51.2% compared with 50.4% for the same period of the previous fiscal year. Income from operations was US$128.6 million compared, up from US$97.1 million, and diluted earnings per share were US$3.58 compared with US$2.71 for the same quarter a year ago.

UGG brand net sales increased 2.5% in the quarter, year-on-year, to US$415.1 million, Hoka One One revenue rose 83.2% to US$143.1 million, while Teva net sales increased 20.5% to US$27.7 million. Sanuk brand net sales decreased 11.4% in the period to US$9.5 million.

"Deckers' record second quarter performance was the result of our powerful brands, dedicated teams, innovative product launches, and ability to capture demand online," said Dave Powers, President and CEO, Deckers Brands. "We are thrilled by the resilience of our organisation to deliver strong results in the first half of fiscal year 2021. Our brands are operating from a position of strength, and while we continue to navigate the challenges of a global pandemic, the demand for our brands, combined with our strong operating model and healthy balance sheet, leave Deckers well positioned for the long-term", he added.