UGG! Deckers Falls 16% After-Hours9935719

Deckers Outdoor (DECK) fell 16% just after the company missed earnings expectations and cuts its full-year earnings guidance. The maker of UGG boots posted 20 cents of EPS, 5 cents below expectations. Revenue met analysts’ expectations. Earnings will probably decline 9% to 10% this year, the business stated, 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, 5 cents beneath expectations. Revenue met analysts’ expectations. Earnings will likely decline 9% to 10% this year, the firm said, versus its prior guidance for flat earnings. UGG Botas 

“The year more than year decline is due mainly to an increase in cost of goods sold along with a higher amount of closeout sales, partially offset by selective prices increases, elevated contribution from retail sales, and also the addition from the 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 in 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 higher closeouts for the Teva brand and non-Classic UGG brand styles, put some additional pressure on overall gross margins on top with the larger 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 españa 