First Quarter Review
- Net sales increased 7.1% to a record $263.8 million compared to $246.3 million for the same period last year.
- Gross margin was 46.8% compared to 46.0% for the same period last year.
- Diluted earnings per share was $0.03 compared to $0.20 for the same period last year.
- UGG brand sales increased 7.9% to $170.6 million compared to $158.1 million for the same period last year.
- Teva brand sales increased 3.6% to $51.6 million compared to $49.8 million for the same period last year.
- Sanuk brand sales decreased 4.4% to $30.9 million compared to $32.4 million for the same period last year.
- Retail sales increased 37.6% to $63.6 million compared to $46.2 million for the same period last year; same store sales increased 6.6% for the thirteen weeks ending March 31, 2013 compared to the thirteen weeks ending April 1, 2012.
- eCommerce sales increased 22.6% to $26.6 million compared to $21.7 million for the same period last year.
- Domestic sales increased 7.1% to $182.7 million compared to $170.6 million for the same period last year.
- International sales increased 7.0% to $81.1 million compared to $75.7 million for the same period last year.
“We’re pleased to start the year with first quarter sales and earnings that were ahead of projections,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors.
“The investments we are making in our product lines, direct to consumer channel and international markets are creating strong growth pillars for our brands. At the same time, the new innovation we’ve developed has the potential to provide meaningful cost savings and open new expansion opportunities in the future. We feel good about our current course and continue to be optimistic that our strategies will lead to sustainable growth and increased shareholder value.”
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