Deckers Brands reports 22.1% sales surge in Q1

Deckers Brands announced on Thursday sales surged 22.1% to $825.3 million for the first quarter, on the back of double-digit growth across all markets. 

The Goleta, California-based brand said direct-to-consumer net sales increased 24% to $310.6 million for the first fiscal quarter ended June 30, 2024, with wholesale net sales increasing 21% to $514.8 million. 

By region, the U.S. footwear giant’s domestic net sales increased 23% to $515.9 million, while international net sales surged 20.8% to $309.5 million. 

By brand, Ugg sales increased 14% to $223 million, rivalled by Hoka brand sales of $545.2 million, up 29.7%. The gains offset a net sales decrease of 4.3% at Teva and a 28.4% fall at Sanuk. Other brands, primarily composed of Koolaburra sales, increased 123.5% to $4.0 million. 

“As this is my last quarter to report as CEO, I am pleased to share these strong results to kick-off fiscal year 2025,” said Dave Powers, president and chief executive officer. 

“Hoka and Ugg continue to drive robust full-price demand in the global marketplace by delivering compelling product that consumers love. Deckers has an exciting future ahead as Stefano transitions into his new role as CEO next week.”

Looking ahead, Deckers Brands said it expects net sales to increase approximately 10% to $4.7 billion for the full year. Diluted earnings per share is expected to be in the range of $29.75 to $30.65.

“Fiscal year 2025 is off to a great start, with Hoka and Ugg delivering fantastic first quarter results that have contributed to our increased outlook for the full fiscal year,” added Stefano Caroti, chief commercial officer and incoming president and chief executive officer. 

“I’m excited by the opportunity to now lead Deckers and its iconic brands, with the support of our talented teams that remain focused on the long-term opportunities ahead for this great company.”