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Q1FY17 net sales dip 18.4% at Decker Brands
01
Aug '16
Courtesy: Decker Brands
Courtesy: Decker Brands
Net sales at apparel and footwear marketer Deckers Brands dipped 18.4 per cent from a fiscal ago period to $174.4 million for the first fiscal quarter ended June 30, 2016.

“The year over year decrease was due to the timing of order shipments between quarters, a decrease in direct-to-consumer (DTC) comparable sales, and fewer close-out sales,” the company explained.

Gross margin for the first quarter of fiscal 2016-17 was higher at 43.7 per cent compared to 40.5 per cent in the earlier fiscal's same period.

SG&A expenses as a percentage of sales also climbed higher to 88.6 per cent in the quarter under review as against 70.3 per cent in the first quarter of fiscal 2015-16.

Operating loss for the reporting quarter was $78.3 million vis-à-vis $63.7 million in the prior fiscal's comparable quarter, while non-GAAP operating loss was $76.6 million.

Diluted loss per share also advanced to $1.84 versus $1.43 loss per diluted share, with non-GAAP diluted loss per share reaching $1.80. (AR)

Fibre2fashion News Desk - India


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