Revenue was up by 24.7% in the second quarter to US$1.09 billion. On a constant currency basis, the growth was 24.2%.
Direct-to-consumer net sales were up by 38.8% in the period to US$331.7 million, while wholesale net sales increased by 19.4% to US$760.2 million. Domestic (U.S.) net sales had growth of 21.1% year-on-year to US$748 million while international sales increased by 33.3% to US$343.9 million.
Net sales were up by 28.1% for the Ugg brand to US$610.5 million, while Hoka had growth of 27.3% to US$424 million. Teva saw sales fall by 28.4% to US$21.5 million and Sanuk fell by 28.5% to US$5.4 million. Net sales for other brands, primarily composed of Koolaburra, were up by 7.2% to US$30.6 million.
Gross margin for the quarter was 53.4%, up from 48.2% in the same period of the 2023 fiscal year, while operating income was up by 75.7% to US$224.6 million.
Looking forward, Deckers is expecting net sales of around US$4.03 billion in the full fiscal 2024 year, while the gross margin is expected to be between 52.5-53%.
President and CEO Dave Powers said: “The strength of demand for our Hoka and Ugg brands continued to drive exceptional performance, producing record revenue and earnings for Deckers in both the second quarter and first half of fiscal year 2024.
“Our team’s ability to deliver compelling products that create emotional connections with consumers through engaging marketing campaigns, differentiates our brands in a competitive marketplace. This, paired with our strategic approach to marketplace management, led by our DTC channel, remains paramount to the success of our brands and company. We are focused on maintaining the integrity of our healthy brands to deliver the results detailed in our increased outlook, while remaining aligned with long-term objectives.”