Deckers Has A Bright 2016 As Weather Trend Reverses
Alpha Gen Capital
Alpha Gen Capital
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Bill Maurer • 14 Comments
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Bill Maurer • 54 Comments
Bill Maurer • 54 Comments
Fri, May 27, 12:00 PM
Thu, May 26, 6:35 PM
- Deckers Outdoor (NYSE:DECK) names Dave Powers to the CEO position to replace the retiring Angel Martinez. Martinez will stay on as the chairman of the board.
- Though the company topped estimates with its FQ4 report, profit guidance for the upcoming fiscal year arrived weak. Deckers sees FY17 EPS of $4.05 to $4.40 vs. $4.60 consensus.
- Previously: Deckers Outdoor beats by $0.05, beats on revenue (May 26)
- DECK -0.50% AH to $49.01.
Thu, May 26, 4:09 PM
Wed, May 25, 5:35 PM
Mon, May 23, 10:27 AM
- The U.S. footwear industry is expected to be big winner from the Trans-Pacific Partnership trade agreement, according to analysis from the U.S. International Trade Commission.
- U.S. footwear imports are expected to increase by 2.7% or $1.1B vs. the 2032 baseline growth estimate, with the bulk coming from Vietnam at the expense of China.
- Exports from the U.S. are seen increasing 12.2% as more parts are sent to Vietnam for final assembly.
- TPP is anticipated to have a positive impact on U.S. output and footwear-related employment levels.
- Footwear is the sector with the largest positive benefit from reduced tariffs in what could be a favorable development for margins.
- Full U.S. ITC report (.pdf)
- Related footwear stocks: DSW, SHOO, FINL, FL, UA, SCVL, UA, NKE, OTCQX:ADDYY, DECK, WWW, SKX.
Mon, May 16, 12:16 PM
- Deckers Outdoor (DECK) opened a new Ugg concept store in Orlando.
- The new tech-heavy format is aimed at younger consumers. Similar stores are expected to be opened soon in Shanghai, Las Vegas, New York, and Chicago.
- "The purpose of these stores has shifted slightly so it's not strictly about maximizing sales; it's about being directional," said North America retail VP Gerard Marceda.
Fri, Apr. 8, 10:17 AM
- Apparel stocks are getting hammered after Gap's latest monthly sales dud creates a new ripple of worry.
- There's a little bit of a failed feedback loop going on in the sector as teenagers/young adults skip mall visits to spend on other categories while sellers try to innovate their way out of the box. That innovation is leading to excess inventory which in turn leads to more painful discounting
- Decliners include Lululemon (LULU -1.7%), Kate Spade (KATE -1.4%), Deckers Outdoor (DECK -2.5%), Coach (COH -1.6%), Michael Kors (KORS -2.1%), Columbia Sportswear (COLM -1.8%), Carter's (CRI -1.8%), Hanesbrands (HBI -1.3%), Ascena Retail (ASNA -3.9%), Nordstrom (JWN -3.4%), Chico's FAS (CHS -4.2%), Abercrombie & Fitch (ANF -4%), Urban Outfitters (URBN -2.6%), L Brands (LB -3%), Express (EXPR -2.4%), Guess (GES -2.9%), Tailored Brands (TLRD -1.9%) and Zumiez (ZUMZ -2.8%).
- Now read Sell Your Apparel Stocks
Thu, Mar. 31, 10:21 AM
- Investors are giving companies that make shoes a hard look today. Macroeconomic factors including as strong U.S. dollar have been tugging on earnings in the sector.
- Shoe stocks ahead of broad market averages include Deckers Outdoor (DECK +3.6%), Crocs (CROX +5.1%), Steven Madden (SHOO +2.1%), Wolverine Worldwide (WWW +1.4%), Genesco (GCO +1.3%), and Boot Barn (BOOT +4.3%).
- Now read Are Crocs About To Make An Unlikely Comeback?
Mon, Feb. 22, 9:53 AM
- Canaccord Genuity backs a favorable view on Deckers Outdoor (DECK +1.1%) after taking in the UGG 2016 fall review in Las Vegas.
- The UGG product is being divided into four categories (novelty, classic street, weather, casual shoes/boots) in a move that could help it become a multiseason brand.
- "Taking it altogether, we believe the UGG product line has evolved immensely and should result in a strong recovery of sales trends as we head into fall 2016," writes analyst Camilo Lyon.
- Deckers is rated a Buy at Canaccord.
Mon, Feb. 8, 11:22 AM
- NPD Group reports the U.S. athletic footwear industry grew 8% last year to $17.2B.
- Unit sales were up 3%, while the average selling price of a pair of athletic footwear rose over 5%.
- In an interesting category trend, running and basketball cooled off a bit, while casual accelerated. Hot demand for retro lifted growth in the classics category to 30% for the year.
- Looking ahead, NPD analyst Matt Powell expects growing interest in social fitness (class-based fitness, shared activities, Planet Fitness (NYSE:PLNT), SoulCycle (Pending:SOULC)) to help keep demand strong in athletic footwear.
- Related shoe stocks: DSW, SHOO, FINL, FL, UA, SCVL, UA, NKE, OTCQX:ADDYY, DECK, WWW, SKX.
Fri, Feb. 5, 9:17 AM
Thu, Feb. 4, 6:51 PM
- In addition to missing FQ3 sales estimates (while beating on EPS), Deckers (NYSE:DECK) is guiding for 7.2% Y/Y FQ4 revenue growth (7.9% exc. forex) and EPS of $0.07, below a consensus for 13% growth and EPS of $0.36.
- Along with the numbers, Deckers has announced a restructuring featuring office consolidations, brand management "realignment," and 20 retail store closings. The company is aiming for $35M/year in cost savings, with plans to reinvest $10M.
- CEO Angel Martinez: "Our third quarter was more challenging than we expected as warm weather and weak store traffic across retail pressured demand." USS brand sales +1% Y/Y to $743.2M; Teva +3.2% to $14.1M; Sanuk -17% to $17M; other brands +48.4% to $21.6M.
- U.S. sales +3.2% o $543.3M; international -2.2% to $252.6M. Gross margin fell 380 bps Y/Y to 49.1%; it's expected to be up 80 bps Y/Y in FQ4 to 45.5%. Inventories +26.1% to $370.6M. Deckers ended FQ3 with $263M in cash and $23.5M in borrowings.
- Deckers has tumbled to $43.80 after hours. Crocs (NASDAQ:CROX) has dropped to $8.75.
- Deckers' FQ3 results, earnings release
Thu, Feb. 4, 4:52 PM
- Deckers Outdoor (NYSE:DECK): FQ3 EPS of $4.78 beats by $0.03.
- Revenue of $795.9M (+1.4% Y/Y) misses by $36.09M.
- Shares -8.28%.
Wed, Feb. 3, 5:35 PM
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Tue, Jan. 26, 10:31 AM
- Shoe stocks are off and running today as investors rush back into some favorite names.
- Deckers Outdoor (DECK +3.7%), Wolverine Worldwide (WWW +2.7%), Skechers (SKX +2.4%), Columbia Sportswear (COLM +2.5%), and Crocs (CROX +1.4%) are notable gainers.
- Though a positive BAML note on Foot Locker could be factoring in a bit, it's NPD data showing a strong month for athletic footwear sales (volume +10%, prices +3%) in December that's really stirring up interest.
- Nike's (NKE +0.1%) hanging back a bit from the rally, with a higher exposure to China a potential factor.
Mon, Jan. 11, 10:09 AM
- Shoe stocks are under pressure after channel checks on pricing add a new layer of worry.
- Trading lower in morning action are Crocs (CROX -3.2%), Deckers Outdoor (DECK -2.1%), Wolverine Worldwide (WWW -2.4%), Steven Madden (SHOO -2.1%), Skechers (SKX -0.6%), Columbia Sportswear (COLM -2.8%), and VF Corp (VFC -2.6%).
- Under Armour just dipped below $70 after being as high as $105 in October.
- The panicky trading isn't encapsulating sector giant Nike (NKE +0.8%) or the Adidas (OTCQX:ADDYY +3.3%) ADRs.
- Previously: Under Armour slides as new footwear pricing concerns crop up (Jan. 11 2016)
Deckers Outdoor Corp. engages in the business of designing, marketing and distributing footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities. The company operates through six segments: UGG, Teva, Sanuk, Other Brands Wholesale,... More
Sector: Consumer Goods
Industry: Textile - Apparel Footwear & Accessories
Country: United States
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