Ugg brand net sales for the fourth quarter increased 53.1% to $300.5m, compared to $196.3m last year
US footwear group Deckers Brands is eyeing sales of U$3bn for the year ahead on the back of a near 50% hike in sales for the final quarter of Fiscal 2021.
For the three months ended 31 March, the group reported a 49.7% surge in net sales to $561.2m from $374.9m in the same period last year. On a constant currency basis, net sales increased 47.9%.
Ugg brand net sales for the fourth quarter increased 53.1% to $300.5m, compared to $196.3m last year, while those at Hoka One One soared 74.2% to $177.5m. Teva brand revenues edged up 1% to $60.2m from $59.6m, while those at the Sanuk brand decreased 8.8% to $12.1m.
Domestic net sales increased by 64.3% to $379.2m, while international net sales were up 26.2% to $181.9m.
Net income, meanwhile, more than doubled to $33.46m from $16.09m last time. Gross margin was 53.2% compared to 51.5% for the same period last year.
For the full year, net sales increased 19.4% to $2.55bn. On a constant currency basis, net sales increased 18.4%.
At brand level, Ugg net sales rose 12.9% to $1.72bn, with those at Hoka One One up 62% to $571.2m. Teva net sales grew 0.6% to $138.8m, while those at Sanuk fell 18.2% to $41.8m.
For fiscal year 2021, domestic net sales increased 25.7% to $1.761bn, while international net sales were up 7.3% to $784.2m.
Net income amounted to $382.6m, compared to $276.1m a year prior, while Gross margin was 54% compared to 51.8%.
“Fiscal 2021 was an exceptional year for Deckers, led by global growth of the Hoka brand, and broad-based demand for the head-to-toe assortment of Ugg brand products,” said CEO Dave Powers.
“While our fourth quarter benefited from certain macro tailwinds as well as lapping last year’s disruption, the health of our brands, strength of our omnichannel organisation, and our digitally focused long-term strategies provided the foundation for success over the past year, accelerating our growth trajectory.”
Looking ahead, net sales are expected to be in the range of $2.95-$3bn for fiscal year 2022, while diluted earnings per share is expected to be in the range of $14.05-$14.65. Gross margin is forecast at about 53.3%.