Deckers Outside on Thursday raised its annual web gross sales forecast for a second time, after beating third-quarter gross sales estimates, because it benefited from sturdy demand for its Hoka trainers within the US in the course of the vacation season.
Nonetheless, shares of the footwear maker fell 10.3 % in prolonged buying and selling. They’d jumped 82 % in 2024.
Hoka footwear with their outsized soles have been gaining market share from manufacturers similar to Nike within the sportswear class.
That, coupled with the success of the corporate’s UGG boots and sandals, has helped it submit double-digit income progress for practically seven quarters.
Hoka footwear — which may retail for as much as $300 within the US, in keeping with the corporate’s web site — have additionally loved full-price gross sales, aiding Deckers’ margins.
The corporate now expects annual web gross sales to extend about 15 % to $4.9 billion, in contrast with its prior expectation of about 12 % progress to $4.8 billion.
Analysts estimated a rise of 14.9 % to $4.93 billion, in keeping with knowledge compiled by LSEG.
The corporate reported third-quarter income of $1.83 billion, in contrast with the estimates of $1.73 billion.
By Juveria Tabassum; Enhancing by Shilpi Majumdar
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