Deckers Brands, the well-known U.S. footwear group behind popular brands like Ugg, Hoka, and Teva, has reported outstanding results for fiscal year 2022. The company’s revenues experienced an impressive 28% increase compared to the previous fiscal year, reaching a total of $3.15 billion. This growth was primarily driven by a remarkable fourth quarter, where sales soared by over 30%.

Wholesale revenues for the company saw a significant rise of 31%, amounting to $1.94 billion for the year. Direct-to-consumer sales also experienced healthy growth of 14%, reaching $1.21 billion. Domestically, U.S. sales grew by 23%, totaling $2.17 billion, while international sales increased by 25% to $982.5 million.

Breaking down the performance of the brands within the company, Ugg witnessed a 15.4% increase in sales, generating $1.982 billion. Hoka, known for its athletic footwear, saw a remarkable surge in sales of 56.1%, totaling $891.6 million. Outdoor footwear specialist Teva also experienced a sales increase of 17.3% to $162.7 million. However, Sanuk, another brand under Deckers, saw modest growth with a sales increase of only 3% to $43.1 million. Sales for the company’s other brands decreased by 7.5% to $70.9 million.

The impressive performance continued into the final quarter of the fiscal year, where revenues increased by 31% to $736 million. Deckers’ net income for the full year reached a substantial $451.9 million, a significant jump from $382.6 million in the previous fiscal year. In the fourth quarter alone, net income more than doubled to $68.8 million, compared to $33.5 million during the same period last year.

Dave Powers, the president and CEO of Deckers, expressed his satisfaction with the company’s performance, stating, “Fiscal year 2022 was another record year for Deckers, as we delivered both revenue and earnings per share growth above twenty percent. I am incredibly proud of our performance over the last couple of years, but with the power of our brands and our people, I am even more excited about the opportunities ahead.”

Aside from the earnings update, Deckers also announced the departure of Wendy Yang, the president of performance lifestyle, who oversaw the Hoka and Teva brands. Stefano Caroti, the president of omni-channel, will temporarily take her place while the company searches for a permanent replacement.

Deckers Brands’ impressive growth and strong financial performance showcase the company’s ability to navigate the challenges posed by global supply chain disruptions while effectively capitalizing on the demand for its popular footwear brands. With a robust portfolio of brands and a dedicated team, Deckers is poised for continued success in the future.

Useful links:
1. Deckers Brands Official Website
2. Deckers External Assets