US: Deckers Outdoor Q4 earnings and sales climb
- Q4 net profit up 43.6%
- Gross margin improves 480 bsp
- Sales grow 19.2%
Footwear specialist Deckers Outdoor Corp said its fourth-quarter performance capped off "a year of solid strategic progress" as it booked increases in both earnings and sales.
Net profit climbed 43.6% to US$140.9m from $98.1m in the year ago period. Gross margin improved 480 basis points to 51.1% in the three months to the end of December.
Sales were up 19.2% to $736m compared to $617.3m for the same period last year. Retail sales grew 31.4% to $178m, while same store sales increased 6.1%.
The group's e-commerce sales were up 33.9% to $117.3m, and in the firm's international division, revenues increased 32.1% to $225.3m. At home sales increased 14.3% to $510.7m.
Sales and earnings growth were driven by strong full price selling throughout each of the firm's distribution channels and geographic regions, it said.
"We believe that the concerted investments we are making in our brands, distribution platforms and infrastructure are leading to improved financial and operating results as we expand our direct-to-consumer footprint and elevate our omni-channel resources," said CEO Angel Martinez.
For the full year, Deckers expects revenues to increase around 10% over 2013 levels, and EPS to increase by around 8%.
Apparel and footwear group Deckers Brands has promoted David Lafitte to the position of chief operating officer....
Jeff Kelley, the founder of Sanuk footwear, a division of Deckers Brands, is to transition from an active role at the company to take up a new project at the end of the year....
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