Deckers Brands has raised its full-year guidance after recording double-digit sales growth in the fiscal third quarter.
The company’s net sales for the quarter ended December 31 rose 17.1 per cent to $1.827 billion, with domestic sales up 11.5 per cent and international sales up 28.5 per cent.
Sales at Ugg and Hoka surged 16.1 per cent and 23.7 per cent, respectively. Teva reported a 6 per cent uplift.
Gross margin increased from 58.7 per cent to 60.3 per cent, while operating income rose from $487.9 million to $567.3 million.
President and CEO Stefano Caroti said the company achieved record revenue, gross margin, and earnings during the quarter.
“Ugg continued to experience incredible global momentum, with the brand’s iconic franchises capturing strong full price consumer demand across all regions.
“At the same time, Hoka delivered impressive results consistent with our strategy, remaining focused on scaling through innovative performance products,” Caroti added.
The company has increased its full-year guidance, expecting net sales to grow approximately 15 per cent. This would mark the fifth consecutive year of mid-teens or higher growth.
In August, Deckers sold its Sanuk brand to Canada’s Lole Brands for an undisclosed amount.