Deckers Outdoors raises annual sales forecast amid strong demand for Hoka shoes

Deckers Outdooropens in a new tab It beat Wall Street estimates for second-quarter results and raised its annual sales forecast on Thursday, thanks to strong demand for its Ugg boot brand and Hoka running shoe brand.

The company’s shares soared nearly 12% after the close, adding to a roughly 35% rise so far this year.

The footwear maker has been a major beneficiary of discerning customers globally spending more money on fashionable and innovative shoes, including those from New Balance and Roger Federer-backed On.

Deckers saw a nearly 35% increase in Hoka sales in the second quarter, while the Ugg brand saw a 13% increase. The wholesale channel for both Hoka and Ugg brands has remained strong, as retailers such as Dick’s Sporting Goods and Nordstrom have given them more shelf space. Amazon is also offering more of these products on its website.

Deckers now expects annual sales to rise 12% to $4.8 billion (€4.434 million), up from the 10% increase to $4.7 billion (€4.341 million) it previously expected.

For the quarter ended Sept. 30, Deckers’ net sales rose 20% to $1.31 billion (€1.21 billion), compared with analysts’ median estimate of $1.2 billion (€1.108 million). , according to data collected by LSEG.

The Goleta, California-based company also posted adjusted earnings of $1.59 per share (1.47 euros) for the quarter, compared with the Wall Street consensus of a profit of $1.23 (1.14 euros). euros) per share.