Deckers Brands sales up 2.3% to $282 mn in Q1 FY21

07 Aug '20

2 min read

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Deckers Brands, a US-based designer of innovative footwear, apparel and accessories, reported 2.3 per cent sales growth to $282.2 million in its first quarter (Q1) fiscal 2020 ended on June 30, 2020 compared to sales of $276.8 million in same period last year. Company net loss for the quarter decreased to $7.6 million (Q1 FY20: $31.4 million).

“First quarter performance was a testament to the resilience of our brands, the strength of our e-commerce platform, and the hard work of our employees,” Dave Powers, president and chief executive officer at Deckers Brands, said in a press release.

Gross profit for Q1 FY21 rose to $142.5 million ($130.0 million). Loss from the operations were $7.6 million ($31.4 million). Selling, general and administrative expenses were $150.3 million ($161.4 million).

Sales of UGG brand for the quarter fell 10.0 per cent to $124.7 million (($138.5 million). Whereas Hoka One One brand sales jumped 37.1 per cent to $109.0 million ($79.5 million). Teva brand sales dropped 7.9 per cent to $35.2 million ($38.3 million). Sanuk brand sales slipped 29.2 per cent to $13.2 million ($18.7 million).

During Q1 FY20, DTC (direct to customer) sales grew 74.2 per cent to $139.8 million ($80.3 million). However, wholesale sales decreased 27.1 per cent to $143.3 million ($196.6 million).

"While we are encouraged by the positive start to fiscal year 2021, we expect further challenges related to the Covid-19 pandemic, depending on the duration and severity of economic effects,” Powers said. “We continue to believe our powerful brands, advanced omni-channel capabilities, and healthy balance sheet provide the foundation for our organisation to weather this challenging environment and succeed over the long-term."

Fibre2Fashion News Desk (JL)

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