Deckers Corp posts record first quarter 2004 results
US footwear company, Deckers Corporation, has posted record financial results for the first quarter 2004. For the period ended March 31, net sales increased 22.6% to $44.3 million while net earnings were up 28.1% to $5.4 million.
Growth was driven by the popularity of the firm’s Ugg brand sheepskin boots, which had sales of $5.1 million – up a massive 226%. Sales for the Teva brand were also strong, increasing 18% to $37.4 million.
Deckers Corp CEO, Doug Otto, said: “We have begun the 2004 fiscal year with good brand momentum and strong financial results. We remain focused on further leveraging our brands and fully capitalizing on our leadership position in the marketplace.”
The company has raised its guidance for the full year 2004 and said it expects sales of between $166 million and $174 million. For the second quarter, it is predicted that sales will come in at around $34 million.
