Demand for Ugg delivers record revenue for Deckers Brands
Deckers Brands has released its financial results for the second fiscal quarter ending September 30, 2023. The company has reported record revenue and earnings, thanks to the solid demand for its Hoka and Ugg brands.
CEO Dave Powers said: "The strength of demand for our Hoka and Ugg brands continued to drive exceptional performance, producing record revenue and earnings for Deckers in both the second quarter and first half of fiscal year 2024.
"Our team's ability to deliver compelling products that create emotional connections with consumers through engaging marketing campaigns, differentiates our brands in a competitive marketplace. This, paired with our strategic approach to marketplace management, led by our DTC channel, remains paramount to the success of our brands and Company. We are focused on maintaining the integrity of our healthy brands to deliver the results detailed in our increased outlook, while remaining aligned with long-term objectives."
Net sales increased 24.7% to $1.092 billion from $875.6 million. On a constant currency basis, net sales increased 24.2%. The Ugg brand net sales increased 28.1% to $610.5 million from $476.5 million, while Hoka brand net sales increased 27.3% to $424.0 million from $333.0 million.
image - Ugg
