US: Deckers Q1 profit up 7.3%, but expects Q2 loss
- Q1 profit up 7.3% to US$19.2m
- Sales up 31.4% to $204.9m
- Expects Q2 loss on changes to sales model
Ugg boot owner Deckers Outdoor Corporation has booked a higher first quarter profit following a major increase in sales for its Ugg and Teva brands.
Ugg revenues were up 42.2% in the three months to 31 March, while Teva’s sales leapt 16.8%. The US company’s international sales rose 45.8% and its retail sales soared by 52.8%.
Hailing a “good start to the year”, company president, CEO and chairman Angel Martinez said: “We believe that our strategies to diversify our merchandise assortments and extend the global reach of our brands are being executed successfully.
“The favourable response to the Ugg brand’s spring line of fashion sandals, sneakers, slippers and boots drove gains in our domestic wholesale, consumer direct and international distribution channels.”
Deckers now expects full-year revenue to increase 21% and earnings per share to rise about 13%, but said it expected to record a second quarter loss as it changed its sales models in some markets.
Footwear business Deckers Outdoor Corporation raised its full-year guidance after third quarter profit rose 49%, driven by the continued strength of the Ugg brand....
Emu Australia and Deckers Outdoor have reached a settlement in their long-running battle over the use of the word 'Ugg'....
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Outdoor industry's future must be more inclusive
- Factoring: a lifeline for apparel suppliers?
- Asos FY profit drop: What the analysts say
- Adidas "Reebok sale" would be admittance of defeat
- Cambodia clothing factory collapse injures eight
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Coats to open new zip factory in Bangladesh
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Wool in the 21st Century: new prospects for a familiar fibre
- Prospects for the Textile and Clothing Industry in Vietnam