Deckers Brands clocks 'exceptional' sales year, Hoka brand continues to burn bright
Deckers Brands announced on Thursday net sales surged 15.1% to $3.627 billion for the fiscal-year 2023, on the back of double-digit gains across all channels and regions, and a 58% sales hike at Hoka.
The Goleta, California-based company said wholesale net sales increased 11.6% to $2.161 billion, alongside a direct-to-consumer sales increase of 20.8% to $1.467 billion for the 12 months ending March 31.
By region, domestic sales increased 13.1% to $2.451 billion, and international sales lifted 19.7% to $1.176 billion.
The company's star-performing brand Hoka continued to shine, clocking 58.5% growth $1.413 billion, partially offset by Deckers' largest brand, Ugg, which fell 2.7% to $1.929 million. Teva sales grew 12.5% to 183.1 million, while the company's other brands segment, primarily composed of Koolaburra, decreased 9.6% to $64.1 million.
Net income grew to $518. 8 million, compared to $451.9 million last year.
"Fiscal year 2023 was an exceptional year for the Deckers organization, delivering 15% revenue growth and increasing earnings per share nearly 20%," said Dave Powers, president and chief executive officer.
"We continue to deliver record results, including the Hoka brand adding more than half a billion dollars of top-line revenue. We are energized for the path ahead as we continue investing behind our long-term strategic priorities, while maintaining a disciplined approach to managing our operating model to drive sustainable future success."
Looking ahead, the company said it expects fiscal 2024 net sales to be approximately $3.95 billion.
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