UGG! Deckers Falls 16% After-Hours228863

Deckers Outdoor (DECK) fell 16% following the company missed earnings expectations and cuts its full-year earnings guidance. The maker of UGG boots posted 20 cents of EPS, 5 cents under expectations. Income met analysts’ expectations. Earnings will most likely decline 9% to 10% this year, the company said, versus its prior guidance for flat earnings. “The [...]

Deckers Outdoor (DECK) fell 16% following the enterprise missed earnings expectations and cuts its full-year earnings guidance. UGG Botas 

The maker of UGG boots posted 20 cents of EPS, five cents below expectations. Revenue met analysts’ expectations. Earnings will most likely decline 9% to 10% this year, the organization said, versus its prior guidance for flat earnings. UGG españa 

“The year more than year decline is due primarily to an raise in cost of goods sold and also a higher amount of closeout sales, partially offset by selective rates increases, elevated contribution from retail sales, along with the addition of your Sanuk brand for the total year. This guidance also assumes SG&A as a percentage of sales of approximately 30% versus prior guidance of approximately 29% due to the lower sales projections”

“Our first quarter performance was mixed versus our expectations,” stated Chairman and CEO Angel Martinez. “Sales growth was driven by the addition from the Sanuk brand combined with elevated demand for the UGG brand spring line, partially offset by softness in boots due to the unusually warm weather. The difference in the channel mix versus projections, along with some greater closeouts for the Teva brand and non-Classic UGG brand styles, put some additional pressure on overall gross margins on top from the greater product costs we had forecasted.”

“Looking ahead, I have confidence that we can continue to successfully navigate through the near-term challenges facing some areas of our business, while continuing to execute against our strategic plan aimed at delivering consistent sales and earnings growth over the long-term” UGG Botas 