Deckers Brands sales soar 8.4% in Q4FY18

2018/06 07 14:06

Courtesy: Deckers

Courtesy: Deckers
Deckers Brands, a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, has recorded sales of $400.7 million, up 8.4 per cent compared to$369.5 million for the same period last year. On a constant currency basis, net sales increased 6.6 per cent. In fiscal 2018, sales grew 6.3 per cent to $1.9 billion.

For the fourth quarter of fiscal 2018, gross margin was48.0 per cent compared to 43.0 per cent for the same period last year. Full year gross margin was 48.9 per cent compared to 46.7 per cent for the same period last year.

Operating income was $18.3 million in the fourth quarter compared to an operating loss of $30.9 million for the same period last year. Non-GAAP operating income was $19.9 million this year compared to $5.1 million last year. For full year, operating income was recorded at $222.6 million compared to an operating loss of $1.9 million for the same period last year. Non-GAAP operating income was $236.5 million this year compared to $165.6 million last year.

“We closed fiscal 2018 on a high note as we exceeded expectations for the fifth consecutive quarter," said Dave Powers, president and chief executive officer. “The entire Deckers team stepped up to the plate and performed exceptionally well despite the numerous challenges the organization faced over the last twelve months. For the full year, we achieved record revenue of $1.9 billion, drove a 320 basis point improvement in non-GAAP operating margin to 12.4 per cent and increased non-GAAP diluted earnings per share by 50 per cent to a record $5.74. I am confident that the company is well positioned to build on its recent financial accomplishments and enhance its industry competitiveness through the continued execution of our operating profit improvement plan and strategic focus."

In the first quarter of 2019, net sales are expected to be in the range of $225.0 million to $235.0 million. For fiscal 2019, net sales are expected to be in the range of $1.925 billion to $1.950 billion. Gross margin is likely to be slightly better than 49.0 per cent. SG&A expenses as a percentage of sales are projected to be slightly better than 36.5 per cent. Operating margin is expected to be in the range of 12.6-12.8 per cent. (RR)

--CopyRights: DIRTWAVE BLOG » Deckers Brands sales soar 8.4% in Q4FY18

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