Geographically, domestic net sales grew by 16.8 per cent to $2.864 billion, up from $2.451 billion, while international net sales increased by 21.1 per cent to $1.424 billion, compared to $1.176 billion. The company's gross margin improved to 55.6 per cent, up from 50.3 per cent, the company said in a press release.
Selling, general, and administrative expenses were $1.458 billion, compared to $1.173 billion in the previous year. Operating income saw substantial growth, reaching $927.5 million compared to $652.8 million. Diluted earnings per share (EPS) increased to $29.16, up from $19.37.
In terms of brand performance for FY24, Hoka brand net sales increased by 27.9 per cent to $1.807 billion, compared to $1.413 billion. UGG brand net sales rose by 16.1 per cent to $2.239 billion, up from $1.929 billion. Teva brand net sales, however, decreased by 18.9 per cent to $148.5 million, compared to $183.1 million. Sanuk brand net sales dropped by 33.0 per cent to $25.4 million, compared to $38.0 million. Other brands, primarily composed of Koolaburra, saw net sales increase by 5.9 per cent to $67.9 million, up from $64.1 million.
For the fourth quarter of fiscal 2024 (Q4 FY24), Deckers Brands reported a 21.2 per cent increase in net sales, reaching $959.8 million compared to $791.6 million in the same period last year. On a constant currency basis, net sales rose by 21.1 per cent. DTC net sales for the quarter increased by 21.0 per cent to $415.2 million, up from $343.1 million, with DTC comparable net sales rising by 20.5 per cent. Wholesale net sales grew by 21.4 per cent to $544.6 million, compared to $448.4 million.
Domestic net sales for the fourth quarter increased by 19.4 per cent to $647.7 million, up from $542.4 million, while international net sales rose by 25.2 per cent to $312.0 million, compared to $249.1 million. The gross margin for the quarter improved to 56.2 per cent, up from 50.0 per cent. Selling, general, and administrative expenses were $395.2 million, compared to $290.2 million in the previous year. Operating income for the quarter increased to $144.3 million, up from $105.9 million. Diluted EPS for the fourth quarter was $4.95, compared to $3.46 in the same period last year.
In the fourth quarter brand summary, Hoka brand net sales increased by 34.0 per cent to $533.0 million, up from $397.7 million. UGG brand net sales rose by 14.9 per cent to $361.3 million, compared to $314.3 million. Teva brand net sales decreased by 15.6 per cent to $53.0 million, down from $62.8 million. Sanuk brand net sales dropped by 39.1 per cent to $6.5 million, compared to $10.7 million. Other brands, primarily composed of Koolaburra, saw net sales remain approximately flat at $6 million.
"Deckers has grown revenue at a 19 per cent CAGR over the past four years, consecutively delivering a double-digit revenue increase each year, while at the same time more than tripling earnings per share," said Steve Fasching, chief financial officer. "Our record results demonstrate the exceptional demand for our brands and the strength of Deckers' nimble operating model, delivering industry leading financial performance. As we continue to build an exciting future for Deckers, we remain committed to making the necessary investments to maintain the momentum of our brands."
Fibre2Fashion News Desk (DP)