Deckers Brands reports positive 2021 financial results

United States
Published:  21 May, 2021

The California headquartered footwear and apparel manufacturer has announced financial results for the fourth fiscal quarter and fiscal year ended March 31, 2021. In the fourth quarter, net sales increased 49.7% to US$561.2 million compared to US$374.9 million for the same period in 2020 and gross margin was 53.2% compared to 51.5% for the same period in 2020. Across the full financial year 2021, net sales increased 19.4% to US$2.546 billion compared to US$2.133 billion for 2020 and gross margin was 54% compared to 51.8% for 2020.

Deckers’ Ugg brand net sales for the fourth quarter increased 53.1% to US$300.5 million compared to US$196.3 million for the same period in 2020 and for the fiscal year 2021, increased 12.9% to US$1.717 billion.

The Hoka One One brand net sales for the fourth quarter increased 74.2% to US$177.5 million compared to US$101.9 million year-on-year. For fiscal year 2021, net sales increased 62% to US$571.2 million.

The Teva brand net sales for the fourth quarter increased 1% to US$60.2 million compared to US$59.6 million for the same period in 2020 and for the fiscal year 2021, increased 0.6% to US$138.8 million.

Sanuk brand net sales for the fourth quarter decreased 8.8% to US$12.1 million compared to US$13.3 million year-on-year. For fiscal year 2021, net sales decreased 18.2% to US$41.8 million.

Other brands’ net sales, primarily composed of Koolaburra, for the fourth quarter increased 178.5% to US$10.9 million compared to US$3.9 million year-on-year. For fiscal year 2021, net sales increased 9.4% to $76.7 million.

Wholesale net sales for the fourth quarter increased 41.4% to US$326.1 million compared to US$230.7 million in 2020. For fiscal year 2021, wholesale net sales increased 6% to US$1.479 billion.

Domestic net sales for the fourth quarter increased 64.3% to US$379.2 million compared to US$230.8 million for the same period in 2020. For fiscal year 2021, domestic net sales increased 25.7% to US$1.761 billion. International net sales for the fourth quarter increased 26.2% to US$181.9 million compared to US$144.1 million year-on-year. For fiscal year 2021, international net sales increased 7.3% to US$784.2 million.

Outlook

In 2022, net sales are expected to be in the range of US$2.95 billion to US$3 billion. Gross margin is expected to be approximately 53.3%. The company continues to modify and evolve its operations in response to the Covid-19 pandemic and said it will continue to review guidelines as well as information from health officials and local authorities, while assessing and evolving the appropriate scope of operations and allocation of resources necessary.

Credit: Teva