Deckers Down 10% After Reporting Earnings

Shares of Deckers

are down nearly 10% after the company reported earnings yesterday. Net sales increased 40.4% to $603.9 million compared to $430.1 million for the same period last year. Gross margin was 51.0% compared to 54.2% for the same period last year. Diluted EPS increased 40.1% to $3.18 compared to $2.27 for the same period last year. “Our fourth quarter results exceeded expectations and were the highest in the history of the Company for sales and profitability,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “UGG brand sales once again grew at a robust pace during the holidays, fueling our record performance and easily pushing annual sales for the UGG brand above $1 billion for the first time. We are very pleased with the UGG brand results, particularly the growing diversity of the sales mix in terms of product collections, distribution channels, and geographies.”