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Business

Deckers Brands posts 15 percent sales increase in Q2

By Prachi Singh

30 Oct 2020

For the second quarter, net sales at Deckers Brands increased 15 percent to 623.5 million dollars compared to the same period last year, while on a constant currency basis, net sales increased 14.1 percent. The company said in a statement that gross margin was 51.2 percent compared to 50.4 percent for the same period last year, while diluted earnings per share were 3.58 dollars compared to 2.71 dollars for the same period last year.

Commenting on the trading results, Dave Powers, the company’s President and Chief Executive Officer said: “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.”

Performance of Deckers’ brand portfolio

The company added that UGG brand net sales for the quarter increased 2.5 percent to 415.1 million dollars, Hoka One One brand net sales increased 83.2 percent to 143.1 million dollars, Teva brand net sales increased 20.5 percent to 27.7 million dollars and Sanuk brand net sales decreased 11.4 percent to 9.5 million dollars.

The company’s wholesale net sales increased 1.8 percent to 451.6 million dollars, while DTC net sales increased 74.2 percent to 171.9 million dollars. Domestic net sales for the quarter increased 19.4 percent to 427.4 million dollars, while international net sales increased 6.4 percent to 196.1 million dollars.

Picture:Teva website