Hoka and UGG drive Deckers Brands Q4 and full year sales

Net sales for the fourth quarter increased 49.7 percent to 561.2 million dollars at Deckers Brands, while on a constant currency basis, net sales increased 47.9 percent. Fourth quarter diluted earnings per share rose to 1.18 dollars compared to 57 cents for the same period last year.

“Fiscal 2021 was an exceptional year for Deckers, led by global growth of the Hoka brand, and broad-based demand for the head-to-toe assortment of UGG brand products,” said Dave Powers, the company’s president and chief executive officer.

Financial review of Deckers Brands full year results

Net sales increased 19.4 percent for the full year to 2.546 billion dollars, while on a constant currency basis, net sales increased 18.4 percent.

Diluted earnings per share increased to 13.47 dollars compared to 9.62 dollars for the same period last year.

The company said, UGG brand net sales for the fourth quarter increased 53.1 percent to 300.5 million dollars. For fiscal year 2021, net sales increased 12.9 percent to 1.717 billion dollars.

Hoka One One brand net sales for the quarter increased 74.2 percent to 177.5 million dollars and full year net sales increased 62 percent to 571.2 million dollars.

Teva brand net sales for the fourth quarter increased 1 percent to 60.2 million dollars and net sales increased 0.6 percent to 138.8 million dollars for the full year.

Sanuk brand net sales for the fourth quarter decreased 8.8 percent to 12.1 million dollars and for fiscal year 2021, net sales decreased 18.2 percent to 41.8 million dollars. Other brands net sales, primarily composed of Koolaburra, for the fourth quarter increased 178.5 percent to 10.9 million dollars and increased 9.4 percent to 76.7 million dollars for the full year.

Deckers Brands performance across retail channels

The company added that wholesale net sales for the fourth quarter increased 41.4 percent to 326.1 million dollars, while for fiscal year 2021, wholesale net sales increased 6 percent to 1.479 billion dollars.

DTC net sales increased 63 percent to 235.1 million dollars for the fourth quarter, while DTC comparable sales increased 76.3 percent over the same period last year. For full fiscal year, DTC net sales increased 44.8 percent to 1.067 billion dollars.

Domestic net sales for the fourth quarter increased 64.3 percent to 379.2 million dollars and increased 25.7 percent to 1.761 billion dollars for the full year.

International net sales for the fourth quarter increased 26.2 percent to 181.9 million dollars, while full year international net sales increased 7.3 percent to 784.2 million dollars.

The company further said, net sales are expected to be in the range of 2.950 billion dollars to 3 billion dollars for fiscal 2022, gross margin is expected to be approximately 53.3 percent, operating margin is expected to be in the range of 17.5 percent to 18 percent and diluted earnings per share is expected to be in the range of 14.05 dollars to 14.65 dollars.