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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
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)
Dec. 2, 2015, 10:38 AM
- Deckers Outoor (DECK +5.6%) is breaking out after a product review of the UGG brand leads to some optimism in the investment firm community.
- Analysts at the event walked away with a favorable impression of the company's UGG strategy, but perhaps even more importantly, it appears that the level of promotional activity from Deckers is already built into current guidance.
- Deckers is down 43% YTD after peaking in early January.
Nov. 17, 2015, 9:37 AM
- A dismal earnings report from Dick's Sporting Goods is impacting peers across the sporting goods sector.
- Dick's peers Hibbett Sports (HIBB -6.6%) and Big 5 Sporting Goods (BGFV -1.9%) are both down sharply in opening trades.
- Nike (NKE -1.2%), Deckers Outdoor (DECK -2.5%), Under Armour (UA -5.3%), and Columbia Sportswear (COLM -3.5%) are all lower in what appear to be related moves.
- Previously: Dick's Sporting Goods -16.7% post Q3 results (Nov. 17 2015)
Nov. 13, 2015, 1:09 PM
- Retailers are under pressure after the Census Bureau reported October retail sales rose 0.1% M/M, and core retail sales 0.2%. Consensus was respectively 0.3% and 0.4%.
- Also: J.C. Penney is down 13.6% in spite of posting a Q3 beat and reiterating its full-year same-store growth guidance, and Nordstrom is down 15.4% after missing FQ3 estimates and cutting its FY16 guidance.
- In addition to Target, TJX, Macy's, and Kohl's (previously covered), notable decliners include Ross (ROST -5.7%), Skechers (SKX -3.9%), Michael Kors (KORS -4.8%), Deckers (DECK -4.2%), Gap (GPS -4.1%), Ascena Retail (ASNA -4.6%), American Eagle (AEO -4.5%), Urban Outfitters (URBN -4.8%), Stein Mart (SMRT -5.4%), Citi Trends (CTRN -4.4%), Guess (GES -5.9%), Abercrombie & Fitch (ANF -5.7%), Chico's FAS (CHS -4.3%), and New York & Company (NWY -6%).
- Retail stocks were also under pressure on Wednesday after Macy's cut its 2015 guidance.
- ETFs: IYK, PEJ, IYC, SCC, UGE, SZK, XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR
Oct. 29, 2015, 4:25 PM
- Margins fell at Deckers Outdoor (NYSE:DECK) in FQ2 with F/X clipping the international sales tally. The gross margin rate was down 260 bps to 44.0%, although the EPS mark beat the estimate of analysts.
- Brand sales growth: Teva -14% to $18M, Ugg +0.9% to $421M, Sanuk -9% to $17M.
- Guidance: Deckers sees Q3 revenue up 11% on a constant currency basis and Q4 revenue 18% higher.
- Previously: Deckers Outdoor beats by $0.05, beats on revenue (Oct. 29)
- DECK +14% after hours to $59.40.
Oct. 29, 2015, 4:23 PM
- Deckers Outdoor (NYSE:DECK): FQ2 EPS of $1.11 beats by $0.05.
- Revenue of $506.2M (+5.4% Y/Y) beats by $19.4M.
- Shares +14.3%.
Oct. 23, 2015, 10:37 AM
- Shoe stocks are falling sharply after earnings reports from Skechers (SKX -34%) and Under Armour (UA -4.1%) reset expectations on a sector where valuation has been stretched out.
- Decliners today include Rocky Brands (RCKY -1.7%), Crocs (CROX -2.2%), Steven Madden (SHOO -6.2%), Deckers Outdoor (DECK -4.5%), Columbia Sportswear (COLM -9.2%), Nike (NKE -1.8%), DSW (DSW -3.7%), and Caleres (CAL -4.3%).
- Retail shoe selling channels such as Dick's Sporting Goods (DKS -2.3%), Foot Locker (FL -5.8%), and Finish Line (FINL -4.4%) are also sinking.
- Previously: Revenue miss at Skechers has investors scrambling (Oct. 23 2015)
Sep. 25, 2015, 10:00 AM
- A number of shoe stocks are getting a free ride on Nike's back this morning.
- Adidas (OTCQX:ADDYY) +2.8%, Under Armour (NYSE:UA) +2.4%, Deckers Outdoor (NYSE:DECK) +1.6%, and Skechers (NYSE:SKX) +2.4% are notable gainers.
- An important read-through from the Nike report is that the sports industry in China may be in solid shape with the government providing some backing. Sports participation rates have been on the rise for the middle class in the region.
- Previously: Nike +9% after powerhouse performance in China (Sep. 25 2015)
Jul. 30, 2015, 4:39 PM
- Deckers Outdoor (NYSE:DECK) trades lower despite topping earnings estimates. The footwear apparel distributor didn't match some of the strong sales numbers pushed out in other parts of the shoe sector.
- Teva brand sales +6.8% to $41.9M
- Ugg brand sales -7.2% to $114.5M.
- U.S. sales +1.7% to $134.5M.
- Global sales +0.1% to $79.3M.
- The company's SG&A expense rate jumped 540 bps to 70.3%.
- Gross margin rate -50 bp to 40.5.
- Guidance: Deckers expects FY16 revenue of $2.01B vs. $1.96B consensus and FY16 EPS of $5.68.
- Previously: Deckers Outdoor beats by $0.06, beats on revenue
- DECK -1.0% after hours. Shares were up 3.3% during the session leading into the earnings report.
Jul. 30, 2015, 4:22 PM
- Deckers Outdoor (NYSE:DECK): FQ1 EPS of -$1.43 beats by $0.06.
- Revenue of $213.81M (+1.1% Y/Y) beats by $0.31M.
- Shares +3.42%.
Jul. 30, 2015, 10:48 AM
- Shoe stocks are higher after Skechers (SKX +13.8%), Steve Madden (SHOO +2.9%), and Crocs (CROX +8.7%) all top estimates in Q2.
- Skechers showed the strongest growth rates of the trio, although pricing and demand trends look positive across the sector.
- Notable shoe movers include Wolverine Worldwide (NYSE:WWW) +1.3%, Deckers Outdoor (NYSE:DECK) +1.0%, DSW (NYSE:DSW) +1.9%.
May 28, 2015, 5:49 PM
- Initially up in AH trading following its FQ4 beat, Deckers (NYSE:DECK) is now down 1.9% to $69.88. Likely weighing: The footwear maker is guiding for FQ1 revenue to be flat Y/Y, and for EPS of -$1.52. Consensus is for a 7.7% revenue increase and EPS of -$1.17.
- FY16 (ends March '16) guidance is stronger: Revenue of $1.96B and EPS of $5.09, slightly above a consensus of $1.95B and $5.05.
- Business performance: FQ4 UGG sales +9.7% Y/Y to $216.8M; Teva +13.4% to $53.1M; Sanuk +27.9% to $39.2M. Wholesale/distributor sales +16.6% to $205.1M; retail stores +7.7% to $86.3M; e-commerce +27.4% to $49.2M. 30 new retail store openings offset a 6.5% same-store sales decline. U.S. sales +9.8% to $217.7M; international +27.5% to $122.9M.
- Financials: Gross margin fell 420 bps Y/Y to 44.7%. Inventories rose 12.9% to $238.9M. $93.9M was spent to buy back 1.3M shares. Deckers ended FQ4 with $225.1M in cash, and $5.4M in credit facility borrowings.
- FQ4 results, PR
May 28, 2015, 4:12 PM
- Deckers Outdoor (NYSE:DECK): FQ4 EPS of $0.04 beats by $0.04.
- Revenue of $340.64M (+15.6% Y/Y) beats by $19.4M.
- Shares +4%.
Deckers Outdoor Corp is engaged in designing, marketing and distribution of footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities.
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