Deckers Outdoors raises annual sales forecast on strong demand for Hoka shoes (updated)

On Holding AG

24/10/2024 22:02

(Adds details on brands sales in paragraph 4, updates shares)
       Oct 24 (Reuters) - Deckers Outdoor  DECK.N  beat Wall
Street estimates for second-quarter results and raised its
annual sales forecast on Thursday, on the back of strong demand
for its brands UGG boots and Hoka running shoes.
    The company's shares surged nearly 12% after the bell, set
to add to the about 35% gain so far this year.
    The footwear maker has been a major beneficiary of picky
customers globally shelling out more money on trendy and
innovative shoes including those from New Balance and Roger
Federer-backed On  ONON.N .
    Deckers reported a nearly 35% jump in Hoka sales in the
second quarter, while the UGG banner saw a 13% rise.
    The wholesale channel for both Hoka and UGG have remained
robust as retailers including Dick's Sporting Goods  DKS.N  and
Nordstrom  JWN.N  open up more shelf spaces. Amazon is also
offering more of the products on its website.
    Deckers now expects annual sales to increase 12% to $4.8
billion, from a 10% rise to $4.7 billion it previously expected.
    For the quarter ended Sep. 30, net sales for Deckers rose
20% to $1.31 billion, compared to the average analyst estimate
of $1.20 billion, according to data compiled by LSEG.
    The Goleta California-based company also reported adjusted
profits of $1.59 per share for the quarter, compared to Street
consensus of a $1.23 per share profit.



  

 (Reporting by Neil J Kanatt in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Neil.JKanatt@thomsonreuters.com;))