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October 30, 2020

Hoka One One helps Deckers Brands to record Q2

US footwear group Deckers Brands has reported a record second-quarter performance, helped by an 83.2% surge in revenue at its Hoka One One brand.

By Beth Wright

US footwear group Deckers Brands has reported a record second-quarter performance, helped by an 83.2% surge in revenue at its Hoka One One brand.

For the three months ended 30 September, the maker of Ugg footwear reported a 30.6% rise in net income to US$101.6m, up from $77.8m a year earlier. Gross margin expanded to 51.2% from 50.4% in last year’s quarter.

Deckers also booked a 15% increase in revenue to a record US$623.5m, up from $542.2m last time. On a constant currency basis, net sales were up by 14.1%.

Ugg brand net sales rose 2.5% to $415.1m from $404.9m for the same period last year, while those at Hoka One One soared 83.2% to $143.1m. Teva also reported an increase, with sales up 20.5% to $27.7m. Sanuk brand revenues, however, fell 11.4% to $9.5m from $10.7m last time. 

Domestic net sales increased by 19.4% to $427.4m, while international net sales were up 6.4% to $196.1m.

“Deckers’ record second-quarter performance was the result of our powerful brands, dedicated teams, innovative product launches, and ability to capture demand online,” said CEO Dave Powers.

“Our brands are operating from a position of strength, and while we continue to navigate the challenges of a global pandemic, the demand for our brands combined with our strong operating model and healthy balance sheet leave Deckers well-positioned for the long-term.”

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