Earnings Results: Deckers sole $2 billion value of Ugg boots in record year, batch jumps 14%

Deckers Outdoor Corp. wrapped adult a record year with roughly $2 billion in sales of Ugg boots, pulling a association to an gain kick and a mountainous batch cost Thursday.

that owns Ugg and other shoe brands such as Teva, reported that mercantile fourth-quarter gain some-more than doubled, to $63 million, or $2.51 a share, from $1.18 a year ago. Net sales increasing to $736 million from $561.2 million a year ago. That opening roared past analysts’ estimates, that on normal called for gain of $1.30 a share on sales of $639.5 million, according to FactSet.

Deckers shares rose about 14% in after-hours trade following a recover of a results.

Ugg boots were during a heart of a outperformance, as sales increasing 24.7% in a entertain and 15.4% for a full year. The association sole $374.6 million of a boots in a fourth quarter, while analysts were awaiting $298.8 million. For a full mercantile year, Deckers sole roughly $2 billion value of a boots — $1.982 billion, to be accurate — that accounted for scarcely two-thirds of a record $3.15 billion in altogether revenue, a initial year a association has eclipsed $3 billion in sales.

Deckers’ subsequent biggest charity was Hoka jaunty shoes, that constructed annual sales of $891.6 million, adult 56.1% from a year before. Hoka sales also outpaced expectations in a mercantile fourth quarter, attack $283.5 million while analysts on normal were awaiting $266 million.

“Fiscal-year 2022 was another record year for Deckers, as we delivered both income and earnings-per-share expansion above 20 percent,” Chief Executive Dave Powers pronounced in a statement. “Over a final dual years, a portfolio of brands has combined some-more than 1 billion dollars of revenue, while creation swell toward pivotal long-term strategies, and progressing top-tier levels of profitability, notwithstanding navigating rare intrusion opposite a tellurian supply chain.”

Deckers executives design expansion to continue in a stream mercantile year. They projected mercantile 2023 gain of $17.40 to $18.25 a share on net sales of $3.45 billion to $3.5 billion. Analysts on normal were displaying mercantile distinction of $18.07 a share on net sales of $3.45 billion streamer into a print, according to FactSet.

Deckers batch has depressed 38.1% so distant this year, as a SP 500 index

has declined 17.7%.

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