Home / Knowledge / News / Apparel/Garments / Q2FY15 sales soar 24.2% at apparel marketer Decker Brands
Q2FY15 sales soar 24.2% at apparel marketer Decker Brands
30
Oct '14
NYSE-listed and marketer of footwear and apparel - Deckers Brands said its sales rose 24.2% year-on-year, to reach record figures in the second fiscal quarter ended September 30, 2014.

In the three months to September 30, 2014, sales at Decker Brands rose 24.2% to a record $480.3 million compared to $386.7 million in the second fiscal quarter of 2013.

Decker Brands said gross margin went up by 340 basis points to 46.6% in the reporting quarter against 43.2% for the same period last year.

SG&A expenses as a percent of net sales increased to 34.2%, when compared with 31.1% for the prior year quarter.

In the quarter under review, diluted earnings per share surged 23.2% to $1.17 versus $0.95 for the second fiscal quarter of 2013.

Considering brand-wise sales in the reporting quarter, UGG brand revenues climbed 23.8% to $417.1 million and Teva sales ascended 14.9% to $20.7 million, both rising from a year ago quarter periods.

Decker said Sanuk brand turnover went up slowly by 3.2% to $19.0 million, while other brands in the Decker portfolio together notched up sales hike of 76.5% to $23.5 million.

Direct-to-Consumer comparable sales, which include retail same store sales and comparable ecommerce sales, increased 3.3% over the same period last year.

Of total turnover, US sales surged 21.1% year-on-year to $289.1 million, while global revenues climbed 29.2% from a year ago period to $191.2 million.

At September 30, 2014, cash and cash equivalents were $114.7 million compared to $84.1 million at September 30, 2013.

Decker’s had $154.6 million in outstanding borrowings under its credit facility at September 30, 2014 compared to $245.5 million at September 30, 2013.

Inventories at September 30, 2014 increased 8.3% to $481.7 million from $444.6 million at September 30, 2013.

For the full fiscal year, Decker now expects revenues to be around $1.825 billion, up 15% from the previous fiscal year.

The apparel marketer has forecast diluted earnings per share to be around $4.71, up 15.8% over the twelve month period ended March 31, 2014 and which is also above the previous guidance of 14.5%.

“This guidance assumes a gross profit margin of approximately 49% and an operating margin of approximately 13%,” Decker said.

CEO Angel Martinez said, "Both our revenues and earnings grew more than 20% for the second quarter compared to the same period last year driven by the performance of our diversified product line up ever.

“We believe that we are well positioned for another successful holiday season, and more importantly, to drive growth for many years to come," she added. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search