Footwear and apparel retailer Deckers Brands has posted a surge in both sales and profit for the first quarter.
The company’s net sales jumped 22.1 per cent to $825.3 million for the three months ended June 30, with the Hoka and Ugg brands reporting sales increases of 29.7 per cent and 14 per cent respectively.
At Teva, sales grew 4.5 per cent, while Sanuk recorded a 28.4 per cent improvement. Other brands, primarily composed of Koolaburra, saw net sales increase 123.5 per cent.
In terms of geography, domestic net sales were up 23 per cent to $515.9 million and international net sales increased 20.8 per cent to $309.5 million.
On the bottom line, the company’s net income surged 82 per cent from $63.5 million to $115.6 million.
“As this is my last quarter to report as CEO, I am pleased to share these strong results to kick-off fiscal year 2025,” said Dave Powers, president and CEO of Deckers Brands..
“Hoka and Ugg continue to drive robust full-price demand in the global marketplace by delivering compelling products that consumers love,” Powers added.
For the full year, the company expects net sales to grow 10 per cent to $4.7 billion.
Stefano Caroti, current chief commercial officer, will transition into his new role as president and CEO next week.