Deckers Brands Q3 FY21 sales grow 14.8% to $1.07 bn

Deckers Brands, a US-based designer of innovative footwear, apparel and accessories, posted 14.8 per cent sales growth to $1.07 billion in its third quarter (Q3) FY21 ended on December 31, 2020, compared to the sales of $938.7 million in the same quarter previous fiscal. Net income for the quarter rose to $255.5 million (Q3 FY20: $201.5 million).

 

“Our record third quarter performance was propelled by demand across the UGG brand's diversified product offering and the continued global expansion of the Hoka One One brand,” Dave Powers, president and chief executive officer at Deckers, said in a press release. “The performance of our brands was primarily driven by our robust e-commerce engine and the resilience displayed by our teams to overcome significant operational and macro challenges related to the pandemic.”

 

Gross profit during Q3 FY21 increased to $613.8 million ($507.6 million). Selling, general and administrative expenses were $285.2 million ($251.8 million). Income from operations jumped to $328.6 million ($255.7 million).

 

UGG brand net sales for the quarter grew 12.2 per cent to $876.8 million ($781.1 million). Hoka One One brand sales jumped 51.2 per cent to $141.6 million ($93.1 million). However, Teva brand sales fell 8.7 per cent to $15.7 million ($17.2 million), and Sanuk brand’s sales slipped 17.3 per cent to $7.0 million ($8.5 million).

 

Wholesale net sales for Q3 FY21 increased 6.2 per cent to $557.9 million ($525.1 million) while DTC sales were up 25.7 per cent to $519.9 million ($413.7 million). DTC comparable sales increased 33.8 per cent over the same period last year.

 

“With our strong portfolio of brands, stable operating model, and powerful balance sheet, Deckers is well positioned for continued success,” Powers said.