Deckers Brands, a US-based designer of innovative footwear, apparel and accessories, posted 15.0 per cent sales growth to $623.5 million during second quarter (Q2) FY21 that ended on September 30, 2020, compared to the sales of $542.2 million in the same quarter previous year. Income from operations for Q2 FY21 was $128.6 million (Q2 FY20: $97.1 million).
“Deckers' record second quarter performance was the result of our powerful brands, dedicated teams, innovative product launches, and ability to capture demand online,” Dave Powers, president and chief executive officer at Deckers, said in a press release.
Gross profit for Q2 FY21 was $318.9 million ($273.0 million). Selling, general and administrative expenses were $190.3 million ($175.8 million). Net income for the quarter rose to $101.5 million ($77.8 million).
UGG brand net sales for the quarter grew 2.5 per cent to $415.1 million ($404.9 million). Hoka One One brand sales jumped 83.2 per cent to $143.1 million ($78.1 million). Teva brand sales rose 20.5 per cent to $27.7 million ($23.0 million). However, Sanuk brand sales fell 11.4 per cent to $9.5 million ($10.7 million).
Wholesale net sales increased 1.8 per cent during the second quarter to $451.6 million ($443.5 million) while DTC sales were up 74.2 per cent to $171.9 million ($98.7 million). DTC comparable sales grew 86.2 per cent over the same period last year.
Fibre2Fashion News Desk (JL)
Deckers Brands, a US-based designer of innovative footwear, apparel and accessories, posted 15.0 per cent sales growth to $623.5 million during second quarter (Q2) FY21 that ended on September 30, 2020, compared to the sales of $542.2 million in the same quarter previous year. Income from operations for Q2 FY21 was $128.6 million (Q2 FY20: $97.1 million).