Deckers' stock rises as sales of Hoka sneakers keep climbing

By Claudia Assis

Hoka, Ugg maker Deckers Outdoor's stock gains more than 7% on earnings beat

Deckers Outdoor Corp., maker of hit Hoka sneakers and in-again Ugg boots, zoomed past Wall Street's expectations for its fiscal fourth quarter, thanks to big sales gains for the two shoe brands, and the stock rallied more than 7% after hours.

Deckers (DECK) earned $127.5 million, or $4.95 a share, in the quarter, compared with $91.8 million, or $3.46 a share, in the year-ago period. Analysts polled by FactSet expected earnings of $2.97 a share.

Hoka and Ugg "remain two of the most admired and well-positioned brands in the marketplace," Chief Executive Dave Powers said in a statement.

Revenue jumped 21% to $960 million, compared with $792 million a year ago. That included a 34% quarter-on-quarter rise in Hoka sales, and a 15% increase in Ugg sales, partially offset by a 16% decline in Teva sales.

Deckers also raised its guidance for fiscal 2025, calling for sales to increase by about 10% to $4.7 billion, up from a previous expectation of sales of around $4.15 billion.

It guided for per-share earnings between $29.50 and $30 for the year, compared with an earlier expectation of EPS between $26.25 and $26.50.

Analysts polled by FactSet expect Deckers to report EPS of $30.47 on sales of $4.7 billion for the year.

-Claudia Assis

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05-23-24 1656ET

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