US apparel company Deckers Brands' Q4 FY21 sales grow 50% to $561 mn

24 May '21

2 min read

Pic: Deckers Brands/ UGG

Deckers Brands, a US-based designer of innovative footwear and apparel, posted 49.7 per cent sales growth to $561.2 million in its fourth quarter (Q4) FY21 ended on March 31, 2021, compared to the sales of $374.9 million in the corresponding quarter of previous fiscal. The company’s net income for Q4 rose to $33.4 million (Q4 FY20: $16.0 million).

“Fiscal 2021 was an exceptional year for Deckers, led by global growth of the Hoka brand, and broad-based demand for the head-to-toe assortment of UGG brand products,” Dave Powers, president and chief executive officer at Deckers said in a press release.

“While our fourth quarter benefited from certain macro tailwinds as well as lapping last year's disruption, the health of our brands, strength of our omni-channel organisation, and our digitally focused long-term strategies provided the foundation for success over the past year, accelerating our growth trajectory,” Powers added.

Gross profit for Q4 FY21 increased to $298.6 million ($192.9 million), while selling, general and administrative expenses were $244.0 million ($176.3 million). The company’s income from operations jumped to $54.6 million ($16.6 million).

UGG brand's sales for the quarter grew 53.1 per cent to $300.5 million ($196.3 million), and Hoka One One brand's sales increased 74.2 per cent to $177.5 million ($101.9 million). Teva brand’s sales were up marginally by 1.0 per cent to $60.0 million ($59.6 million). However, Sanuk brand’s sales fell 8.8 per cent during Q4 FY21 to $12.1 million ($13.3 million).

The company’s wholesale net sales rose 41.4 per cent to $326.1 million ($230.7 million), while DTC sales increased 63.0 per cent to $235.1 million ($144.2 million). DTC comparable sales surged 76.3 per cent over the same period last year.

“We are excited for the year ahead as we invest in the long-term evolution of Deckers to drive sustainable top and bottom line growth,” Powers concluded.

Fibre2Fashion News Desk (JL)

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