US: Strong Ugg sales lift Deckers Outdoor Q4
- Q4 profit up 31.9% to $89.2m
- Net sales climbed 23.6% to $430.1m
- Ugg brand sales up 23.8% to $412.8m
Deckers Outdoor Corporation says it expects earnings to rise by 10% in the year ahead after strong demand for its Ugg boots and international expansion helped lift fourth quarter and full-year profits rise by around one-third.
The company, which also owns the Teva, Tsubo and Simple brands, booked a 31.9% rise quarterly income to $89.2m or $2.27 per share, up from $67.7m or $1.74 per share, a year ago.
Net sales in the three months to 31 December climbed 23.6% to $430.1m, up from $348.0m last time. Ugg brand sales increased 23.8% to $412.8m, the company said, while international sales rose 34.6% to $53.0m.
Retail sales soared 55.4% to $72.4m, and same-store sales rose 11.6%.
"Our outstanding fourth quarter performance demonstrated the continuing strength of the Ugg brand across all channels and markets and helped push our annual sales beyond the $1bn mark," noted CEO Angel Martinez.
"Our overall business has diversified in terms of distribution, seasonality and geographies - trends we anticipate will continue, fuelled by product innovation, company-owned retail expansion, and the growth of our international wholesale operations."
For the full-year, net income climbed 37% to $160.4m or $4.03 per share, up from $116.9m or $2.96 per share the year before.
Annual sales rose 23.1% to $1.001bn, led by a 22.7% rise in the Ugg brand to $873.1m. International sales soared 41.7% to $236.9m, and retail sales increased 59.1% to $125.6m. Same store sales rose 16.6%.
Looking ahead, Deckers expects full year earnings per share to be 10% higher than in 2010, led by a 20% hike in revenues.
Despite swinging to a loss in its second quarter, Deckers Outdoor Corporation has raised its full-year outlook on better than expected sales of its Ugg and Teva shoe brands and an improved outlook for...
US footwear group Deckers Outdoor Corp has completed its purchase of action sport and footwear brand Sanuk....
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