Deckers Brands, a leading American footwear company, has announced impressive sales results for the fiscal year 2023. The company reported a significant increase of 15.1% in net sales, reaching a total of $3.627 billion. The growth was driven by double-digit increases across all channels and regions for Deckers Brands.
One of the standout performers for the company was its Hoka brand, which experienced a remarkable 58% increase in sales. This contributed to the overall success of the company’s wholesale net sales, which rose by 11.6% to $2.161 billion. Additionally, direct-to-consumer sales saw a significant boost of 20.8% to $1.467 billion for the 12-month period ending on March 31.
The domestic market played a significant role in the sales increase, accounting for a 13.1% growth to $2.451 billion. International sales also saw impressive growth, rising by 19.7% to $1.176 billion. Hoka was the star performer for Deckers Brands, generating $1.413 billion in sales and achieving an exceptional growth rate of 58.5%. However, the company’s largest brand, Ugg, experienced a slight decline of 2.7% with sales amounting to $1.929 million. Despite this, Teva, another brand under Deckers Brands, performed well with a sales increase of 12.5% to $183.1 million. On the other hand, the company’s other brands segment, primarily composed of Koolaburra, saw a decrease of 9.6% to $64.1 million.
Deckers Brands also reported a rise in net income, reaching $518.8 million compared to $451.9 million in the previous year. Dave Powers, the company’s president and CEO, expressed his satisfaction with the outstanding performance of Deckers Brands in fiscal year 2023. He highlighted the 15% revenue growth and the nearly 20% increase in earnings per share. Powers specifically acknowledged the significant contribution of the Hoka brand, which added over half a billion dollars to the company’s top-line revenue. He also emphasized the company’s focus on long-term strategic priorities and its disciplined approach to driving sustainable success in the future.
Looking ahead, Deckers Brands has projected that its net sales for fiscal year 2024 will be approximately $3.95 billion. The company is confident in its ability to deliver continued growth and success, thanks to ongoing investments in strategic priorities and strong management of the operating model. With brands like Hoka and Ugg leading the way, Deckers Brands is well positioned for future success in the global market.
Useful links:
1. Deckers Brands official website: https://www.deckers.com/
2. Hoka official website: https://www.hokaoneone.com/
