$DECK (Deckers Outdoor Corp.)

$DECK {{ '2016-05-26T20:59:39+0000' | timeago}} • Webcast

Goleta, California-based $DECK said the UGG brand performed strongly in 4Q16, growing 15% in constant currency to end 2016 up 5%. The arrival of cold weather in Jan. helped drive sales of the fall and winter products. As the season transitioned to spring, $DECK said it experienced strong sales in its casual shoes and sneakers across all channels.

$DECK {{ '2017-05-25T21:41:35+0000' | timeago}} • Webcast

On the cadence of store closures, $DECK said it's still valuating that. For FY17 and FY18, the store closures are going to happen towards the end of the year. Therefore, there is not going to be a big impact on revenues for FY18.

$DECK {{ '2017-05-25T21:10:59+0000' | timeago}} • Webcast

On the 2020 view of reaching $2Bil of sales, $DECK said the focus around driving growth for reaching there is concentrating on the Hoka and UGG brands. For UGG's growth, the company is focused on driving growth through the men's business. In Hoka, the company is going to reallocate some resources to drive growth.

$DECK {{ '2017-05-25T20:44:54+0000' | timeago}} • Webcast

In 4Q17, $DECK's sales of women's shoes and sandals grew over 20% YoY, driven by diversifying and de-seasonalizing the UGG brand. At Hoka, the company continues to drive growth, with sales for the quarter up 33%, pushing the brand over the $100MM milestone for FY17.

$DECK {{ '2017-05-25T20:29:55+0000' | timeago}} • Announcement

For 1Q18, $DECK net sales are expected to be up low single digits over the same period last year, and non-GAAP diluted loss per share is expected to be approx. $1.70 to $1.65 vs. a non-GAAP diluted loss per share of $1.80 for the same period a year ago. $DECK expects the majority of its earnings increase in FY18 to come in the 3Q18 and 4Q18.

$DECK {{ '2017-05-25T20:26:45+0000' | timeago}} • Announcement

For FY18, $DECK expects net sales to be in the range of down 2% to flat and non-GAAP diluted EPS is expected to be in the range of $3.95-4.15. This excludes any charges that may occur from additional store closures and other restructuring charges. GM is expected to be approx. 47.5% for FY18.

$DECK {{ '2017-05-25T20:24:16+0000' | timeago}} • Announcement

$DECK believes that the previously identified $150MM in cumulative savings before reinvestment will drive operating profit improvement of $100MM that will be fully realized by the end of FY20. The savings are expected to come from both cost of sales improvements and SG&A reductions.

$DECK {{ '2017-05-25T20:22:33+0000' | timeago}} • Announcement

Footwear maker $DECK reported a narrowed loss for 4Q17, helped by margin improvement initiatives. Net loss for the quarter was $15.7MM or $0.49 loss per share compared to net loss of $23.71MM or $0.73 loss per share a year ago. Net sales for the quarter declined 2.42% to $369.7MM. Excluding items, $DECK earned $0.11 per share.

$DECK {{ '2016-05-27T04:09:38+0000' | timeago}} • Announcement

Footwear, apparel and accessories company $DECK said Dave Powers, currently President of Omni Channel, will succeed Angel Martinez as CEO following Martinez's retirement, effective May 31,2016. Martinez will continue to serve as Chairman of BoD.

$DECK {{ '2016-05-26T22:08:53+0000' | timeago}} • Webcast

Scott Krasik of Buckingham Research asks about the composition of $50MM in excess inventory. CFO Tom George said majority of the excess inventory is the UGG weather products, some slippers and some casual boots, which is being carried into the fall 2016 line. He added that by 2Q17-end $DECK's inventory levels will be more in line with sales levels.

$DECK {{ '2016-05-26T22:00:14+0000' | timeago}} • Webcast

Mitch Kummetz of B. Riley asks about the pilot program with Koolaburra. Deckers Brands President David Powers said $DECK will be launching with Kohl's. He added that the company is doing a pretty significant test with Kohl's in a few hundred doors and a couple other major box retailers that are not finalized yet.

$DECK {{ '2016-05-26T21:33:35+0000' | timeago}} • Webcast

Footwear designer and distributor $DECK said it expects UGG revenue to be in the range of flat to down 3%, Hoka to grow approx. 20-30%, Teva down low single digits and Sanuk down mid single digits and Koolaburra to be approx. $10-15MM. The company expects FY17 GM to be in the range of 47-47.5%, up roughly 200 BP over last year's pro forma GM.

$DECK {{ '2016-05-26T21:25:51+0000' | timeago}} • Webcast

$DECK said inventories at 4Q16-end were $300MM, an increase of 26% over 4Q15, which was in line with expectations. The inventories were elevated relative to a year ago due to lower sales recorded in 3Q16. The majority of this elevated inventory consists of UGG weather slippers and casual boots that are being carried over into the fall 2016 line.

$DECK {{ '2016-05-26T21:22:41+0000' | timeago}} • Webcast

$DECK said for 4Q16 non-GAAP EPS was $0.11 versus $0.04 a year ago. This was ahead of the company's guidance of $0.07 and was driven by higher revenue, partially offset by lower planned gross margin. For 2016, non-GAAP EPS was $4.50 compared to $4.66 last year.

$DECK {{ '2016-05-26T21:14:33+0000' | timeago}} • Webcast

$DECK said in constant dollars 4Q16 revenue increased 12% to $383MM, up from $341MM last year. On a reported basis, revenue was up 11% to $379MM. In constant dollars by brand, UGG revenue was up 15%, Hoka up 44%, Teva up 11% and Sanuk down 2% versus last year.

$DECK {{ '2016-05-26T20:59:39+0000' | timeago}} • Webcast

Goleta, California-based $DECK said the UGG brand performed strongly in 4Q16, growing 15% in constant currency to end 2016 up 5%. The arrival of cold weather in Jan. helped drive sales of the fall and winter products. As the season transitioned to spring, $DECK said it experienced strong sales in its casual shoes and sneakers across all channels.

$DECK {{ '2016-05-26T20:24:32+0000' | timeago}} • Announcement

$DECK expects FY17 net sales to be in the range of down 3% to flat. The company expects diluted EPS to be in the range of $4.05-4.40. 1Q17 net sales are expected to be down 20-25%. The company expects a diluted loss per share of approx. $2.10-2.20 compared to a diluted loss per share of $1.43 in 1Q16.

$DECK {{ '2016-05-26T20:22:19+0000' | timeago}} • Announcement

$DECK during 4Q16 repurchased approx. 441,000 shares of its common stock for a total of $25MM. For FY16, the company repurchased approx. 1.42MM shares for a total of $94.2MM. As of March 31, 2016, the company had $77.9MM authorized repurchase funds remaining under its $200MM stock repurchase program announced in Jan. 2015.

$DECK {{ '2016-05-26T20:13:27+0000' | timeago}} • Announcement

$DECK said Dave Powers will succeed Angel Martinez as its CEO following Martinez's retirement, effective May 31, 2016. Martinez will continue to serve as Chairman of the company's BoD. Powers held senior executive roles with Nike, Timberland and Gap prior to joining $DECK in June 2012 as President of Direct-to-Consumer.

$DECK {{ '2016-04-21T21:12:47+0000' | timeago}} • Announcement

$DECK said it appointed Andrea O'Donnell as President of Fashion Lifestyle, effective April 25, 2016. Andrea joins $DECK from DFS Group, a multi-billion dollar retailer majority owned by LVMH, where she served as President, Global Merchandising.

$DECK {{ '2015-11-23T14:05:43+0000' | timeago}} • Announcement

Footwear maker $DECK said that UGG brand, a division of their company has launched a anti-counterfeit social media accounts on Facebook & Twitter to protect shoppers from purchasing counterfeit UGG products that are being sold as genuine. UGG has taken legal action against 60,000 websites selling counterfeit products.

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