Deckers Brands reported record third-quarter revenues and Dave Powers announced his retirement as president and CEO of the US footwear company.
The owner of the Ugg and Hoka brands reported a 16 per cent increase in net sales to US $ 1.56 billion for the three months ended 31st December, with domestic net sales up 15.6 per cent to US $ 1.048 billion and foreign sales up 16.7 per cent to US $ 511.9 million.
Direct-to-consumer sales grew 22.7 per cent, while wholesale revenues rose 8.6 per cent to US $ 702.2 million.
Ugg and Hoka were once again the top performers in the California-based company’s portfolio. Ugg brand sales climbed 15.2 per cent to US $ 1.072 billion, outpacing running shoe Hoka, which increased 21.9 per cent to US $ 429.3 million.
Other brands, particularly Koolaburra, gained sales by 10 per cent to US $ 29.6 million, while Teva and Sanuk had sales decreases of 16.2 per cent and 28.9 per cent, respectively.
Following the impressive result, the firm increased its full-year sales target, with net sales now projected to be around US $ 4.15 billion.
Dave Powers, president and CEO states, “Our brands delivered Deckers’ largest quarter in history, with record revenue and earnings, as both Hoka and Ugg drove exceptional performance in the quarter, led by our DTC channel and high levels of full price selling.”
Powers is likely to continue sitting on the company’s board of directors until the 2025 annual meeting of stockholders. As per the reports, Stefano Caroti, the business’s chief commercial officer, will become the CEO.
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