Deckers Brands FY20: sales grow 5.6%; net income $276 mn

25 May '20

2 min read

Pic: Deckers Brands/ Hoka One One

Deckers Brands, a US-based designer of innovative footwear and apparel, posted 5.6 per cent sales growth to $2.13 billion in fiscal year 2020 ended on March 31, 2020 compared to sales of $2.02 billion in prior year. Net income for the year grew to $276.14 million (FY19: $264.30 million). Gross profit increased to $1.10 billion ($1.04 billion).

“Fiscal year 2020 performance was driven by the strength of our brand portfolio, fuelled by targeted investments in our key initiatives, coupled with disciplined financial management," Dave Powers, president and chief executive officer, said in a press release.

Sales for UGG brand during the year decreased 0.8 per cent to $1.521 billion. Sales of Hoka One One brand increased 58 per cent to $352.6 million. Sales of Teva brand grew 0.4 per cent to $138 million. Sales of Sanuk brand fell 38.1 per cent to $51.2 million.

Wholesale net sales for year decreased 6.9 per cent to $1.39 billion. DTC sales increased 3.1 per cent to $736.9 million.

Sales in the Domestic market jumped 9.6 per cent to $1.40 billion. However, International sales were down 1.5 per cent to $731.0 million.

“We expect fiscal year 2021 results to be impacted depending on the duration and severity of the Covid-19 pandemic, but our in-demand brands, omni-channel capabilities, and healthy balance sheet position us well to weather this challenging environment,” Powers said.

Fibre2Fashion News Desk (JL)

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