The Jeuns

Year Ends with 18% Sales Surge

May 24, 2024 | by The Jeuns

Deckers Brands, based in Goleta, California, reported a significant increase in net sales for the fiscal year 2024. The company saw a surge of 18.2%, reaching .288 billion in total sales, driven by strong performance from their Hoka and Ugg brands.

Wholesale net sales for Deckers Brands rose by 12.6% to .432 billion, while direct-to-consumer sales experienced a substantial 26.5% increase to .855 billion during the 12-month period ending on March 31.

In terms of regional performance, domestic sales in the United States grew by 16.8% to .864 billion, and international sales also saw a significant uplift of 21.1% to .424 billion.

Hoka recorded a remarkable growth of 27.9% with net sales amounting to .807 billion, while Ugg reported a 16.1% increase to .239 billion. However, Teva saw a decline of 18.9% in net sales to 8.5 million, and Sanuk experienced a decrease of 33% to .4 million. The company’s other brands segment, including Koolaburra, increased by 5.9% to .9 million.

Dave Powers, president and CEO of Deckers Brands, expressed his satisfaction with the record results achieved in fiscal year 2024, emphasizing the company’s commitment to profitability and brand growth. He highlighted the success of Hoka and Ugg in the market and the continuous innovation in product offerings.

Looking ahead, Deckers Brands anticipates a further 10% increase in net sales for fiscal 2025, targeting .7 billion in total sales. The company also expects diluted earnings per share to range between .50 and .00.

Overall, Deckers Brands remains optimistic about the future and is confident in its ability to capitalize on the long-term opportunities presented by its renowned brands.

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