Deckers Brands, a designer and distributer of innovative footwear and apparel, posted 15.0 per cent increase in its revenue to $623.5 million during the second quarter (Q2) FY21 that ended on September 30, 2020, compared to the revenue of $542.2 million in the same period last year. Net income during Q2 FY20 was $101.5 million (Q2 FY20: $77.8 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 Brands, said in a press release. “We are thrilled by the resilience of our organisation to deliver strong results in the first half of fiscal year 2021.”
Gross profit during the quarter rose to $318.9 million ($273.0 million). Company’s income from operations rose to $128.6 million ($97.1 million).
UGG brand sales increased 2.5 per cent to $415.1 million ($404.9 million) while, Hoka One One brand sales jumped 83.2 per cent to $143.1 million ($78.1 million). Teva brand sales for Q2 FY21 grew 20.5 per cent to $27.7 million ($23.0 million). Sanuk brand sales slipped 11.4 per cent to $9.5 million ($10.7 million).
Company’s wholesale sales increased 1.8 per cent to $451.6 million ($443.5 million). Whereas, DTC sales grew 74.2 per cent to $171.9 million ($98.7 million).
“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,” Powers said.
Fibre2Fashion News Desk (JL)
Deckers Brands, a designer and distributer of innovative footwear and apparel, posted 15.0 per cent increase in its revenue to $623.5 million during the second quarter (Q2) FY21 that ended on September 30, 2020, compared to the revenue of $542.2 million in the same period last year. Net income during Q2 FY20 was $101.5 million (Q2 FY20: $77.8 million).