US apparel firm Deckers Brands' posts April-June FY22 sales of $504 mn

Deckers Brands, a US-based global designer of footwear, apparel and accessories, has reported 78.2 per cent revenue growth in its first quarter (Q1) of FY22 to $504.7 million ended on June 30, 2021, compared to the sales of $283.2 million in the corresponding period of prior fiscal. Net income rose to $48.1 million (Q1 FY21: loss $7.9 million).

 

“Our portfolio of brands delivered a strong start to fiscal 2022, which propelled Deckers to its most profitable first quarter ever,” Dave Powers, president and chief executive officer of Deckers Brands, said in a press release. “The growing influence of Hoka, increasing year-round appeal of UGG, and continuing strength of Teva are driving progress across strategic priorities and delivering a more balanced business.”

 

Gross profit for Q1 FY21 was $260.5 million ($142.5 million), while income from operations jumped to $61.8 million (loss: $7.7 million).

 

Sales from UGG brand gained 70.8 per cent to $213.0 million ($124.7 million), and Hoka One One brand sales escalated 95.5 per cent to $213.1 million ($109.0 million). The company’s Teva brand expanded 65.9 per cent to $58.5 million ($35.2 million), whereas Sanuk’s sales during Q1 FY22 increased 13.7 per cent to $15.0 million ($13.2 million). Other brands, primarily composed of Koolaburra sales boosted 435.9 per cent to $5.0 million ($0.9 million).

 

Deckers Brands’ wholesale sales rose 140.2 per cent to $344.3 million ($143.3 million) and DTC sales increased 14.7 per cent to $160.4 million ($139.8 million).

 

“While macro-economic headwinds persist throughout the supply chain, we are confident in the consumer demand for our brands and the resilience of our global omni-channel organisation, and we remain dedicated to the foundational, long-term strategies driving Deckers' success,” Powers concluded.

 

In its outlook for fiscal 2022, the company said that it expects sales to be between $3.010 billion to $3.060 billion.