Deckers Shares Tramp Higher On Narrower Q2 Loss

Deckers Outdoor

shares surged nearly 14% after hours to $47.90 after it lost less than expected and posted a rise in its retail stores and e-commerce sales. The shoe company lost $20.1 million, or 53 cents a share in the second quarter. That was less than the 60 cents a share analysts expected it to lose, on average. Deckers had lost $7.5 million, or 19 cents a share a year earlier. Revenue rose 13% to $174.4 million, up from $154.2 million a year earlier, aided by an acquisition. Key brands continued to report slow sales. Its UGG-brand boots reported sales of $107.9 million, down 0.3% from a year earlier. Teva-brand sandals fell 15.4% to $34.1 million. “We remain confident about the strength of our brands and their respective long-term growth prospects,” said CEO Angel Martinez, in a statement. Deckers posted a 25% sales rose in its retail outlets, driven by 21 new stores in the past 12 months. Same-store sales rose 6.8% for the 13 weeks ended July 1. The company also saw a 40% rise in e-commerce sales to $8 million, up from $5.7 million a year earlier, driven by UGG-brand spring styles and the addition of its Sanuk brand. Deckers ended the period with $111.4 million in cash, down from $325.2 million a year earlier, due largely to the $153.3 million acquisitionn of Sanuk and $100 million of stock repurchases.