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Deckers Brands net sales up 10.5% to $276.8 mn in Q1 2020

30
Jul '19
Pic: Deckers Brands
Pic: Deckers Brands
Deckers Brands, a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, has reported sales increase of 10.5 per cent to a record $276.8 million for first fiscal quarter 2020 ending June 30, 2019. On a constant currency basis, net sales increased 11.6 per cent. The company repurchased $35 million of shares in Q2.

“The Deckers organisation experienced a strong start to fiscal year 2020,” said Dave Powers, president and chief executive officer. “I am proud of the positive momentum that our portfolio of brands continues to build as we remain focused on the strategies that have proven successful in strengthening our operations over the past few years. The Deckers team continues to drive excitement behind innovative product introductions and remains disciplined in delivering top-tier levels of profitability. With the first quarter now behind us, we are firmly committed to our strategies and remain confident in our abilities to deliver on them.”

For the full year of fiscal 2020 ending March 31, 2020, the company expects the net sales to be in the range of $2.1-$2.125 billion. Gross margin is expected to be approximately 50.5 per cent.

Net sales for the second quarter of fiscal 2020, for the three month period ending September 30, 2019 are expected to be in the range of $515-$525 million. (PC)

Fibre2Fashion News Desk – India


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