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...
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