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Shares for Deckers Brands were up over 8 percent in after-hours trading on Thursday as the footwear company wrapped up fiscal 2024 on a high note.<\/p>\n
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The Goleta, Calif.-based footwear company reported net sales in the fourth quarter of 2024 increased 21.2 percent to $959.8 million compared to $791.6 million the same time last year. Net income in the period was $127.5 million, up from $91.8 million in the same quarter last year.<\/p>\n
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Deckers also saw a bump in its direct-to-consumer channel, reporting an increase of 21 percent to $415.2 million compared to $343.1 million in Q4 of fiscal 2023. Wholesale net sales for Q4 were up 21.4 percent to $544.6 million compared to $448.4 million the same time last year.<\/p>\n
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By brand, Hoka saw the largest increase in sales in the fourth quarter, reporting a 34 percent rise to $533.0 million compared to $397.7 million in Q4 2023. Ugg also continued its winning streak in the period, posting net sales of $361.3 million, a 14.9 percent increase from $314.3 million last year.<\/p>\n
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Teva and Sanuk, the latter of which the company announced plans to divest<\/a> late last year, did not fare as well this quarter. In Q4, Teva saw a 15.6 percent decline in net sales to $53.0 million compared to $62.8 million the same time last year. Sanuk reported a 39.1 percent drop in net sales to $6.5 million in the period compared to $10.7 million last year. Other brands division, primarily composed of Koolaburra, reported net sales were approximately flat at $6.0 million in Q4.<\/p>\n <\/p>\n <\/p>\n As far as the full fiscal year 2024, Deckers reported net sales increased 18.2 percent to $4.288 billion compared to $3.627 billion in fiscal 2023. Net income for the year was $759.6 million, up from $516.8 million last year.<\/p>\n <\/p>\n <\/p>\n By channel, Deckers\u2019 direct-to-consumer saw net sales increase 26.5 percent in fiscal 2024 to $1.855 billion compared to $1.467 billion the prior year. Wholesale net sales for the year were up 12.6 percent to $2.432 billion compared to $2.161 billion in 2023.<\/p>\n <\/p>\n <\/p>\n Hoka came out on top again for the year, with net sales in fiscal 2024 of $1.807 billion, a 27.9 percent increase from $1.413 billion in 2023. Ugg also saw<\/a> its net sales for the year increase by 16.1 percent to $2.239 billion compared to $1.929 billion the prior year. Also on the positive side for the year, Deckers\u2019 other brands division, primarily composed of Koolaburra, saw net sales up 5.9 percent to $67.9 million compared to $64.1 million.<\/p>\n <\/p>\n <\/p>\n Teva wrapped up the year down 18.9 percent to $148.5 million compared to $183.1 million, while Sanuk reported a 33.0 drop in net sales in 2024 to $25.4 million compared to $38.0 million last year.<\/p>\n <\/p>\n <\/p>\n Deckers president and chief executive officer Dave Powers<\/a> said in a statement on Thursday that this year\u2019s performance reflects a \u201ccontinued dedication\u201d to maintain \u201cexceptional levels\u201d of profitability as the company\u2019s brands scale. “Hoka and Ugg<\/a> remain two of the most admired and well-positioned brands in the marketplace, each with a robust innovation product pipeline designed to win with global consumers,\u201d Powers noted. \u201cLooking forward, our talented teams are highly motivated to continue driving towards the long-term opportunities of these iconic brands.”<\/p>\n <\/p>\n <\/p>\n As far as fiscal 2025, Deckers is expecting net sales for the year to increase approximately 10 percent to $4.7 billion, with diluted earnings per share expected to be in the range of $29.50 to $30.00.<\/p>\n <\/p>\n <\/p>\n <\/p>\n Net sales in the fourth quarter of 2024 increased 21.2 percent to $959.8 million.<\/p>\n","protected":false},"author":190673879,"featured_media":1203585836,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"authors":[],"contributors":[],"styled_by":[],"_image_credit":"","_wp_attachment_image_alt":"","pmc_selected_wwd_video_media":"","pmc_top_video_source":"","pmc_top_video_duration":"","wwd_top_video_source":"","wwd_top_video_duration":"","pmc_selected_featured_media":"","pmc_selected_video_media":"","pmc_selected_variety_video_media":"","variety_top_video_source":"","variety_top_video_duration":"","pmc_featured_media_has_alt_text":true,"_pmc_featured_animated_media_id":0,"_pmc_featured_video_override_data":"","_pmc_featured_video_override_url":"","pmc-gallery-linked-gallery":{},"pmc_list_item_description":"","primary_category":"","primary_vertical":"","_mt_pmc_exclude_from_seo":"","pmc-gallery":[],"categories":179,"subcategories":84144,"mt_seo_title":"Deckers Brands DECK Q4 2024 Sales: Reaches Record 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