DECKERS OUTDOOR Reports First Quarter FY2024 Earnings on June 30th 2023
August 7, 2023
🌥️Earnings Overview
DECKERS OUTDOOR ($NYSE:DECK) reported total revenue of USD 675.8 million for the first quarter of their FY2024, ending on July 27th 2023, a 10.0% increase compared to the same period of the previous year. Net income also saw an impressive growth of 41.7%, amounting to USD 63.6 million, for the quarter ending on June 30th 2023.
Market Price
On Thursday June 30th 2023, DECKERS OUTDOOR reported its first quarter earnings of FY2024. The stock opened at $556.3 and ended the day trading at $537.0, down by 3.8% from its prior closing price of 558.0. Investors responded to the news cautiously, leading to the decrease in the stock’s value. DECKERS OUTDOOR attributed the decline in sales to the ongoing pandemic and its negative impact on the retail sector. The company has since implemented an aggressive cost-cutting strategy and is focusing on growing its digital presence.
DECKERS OUTDOOR is confident that these efforts will help it weather the economic storm and return to its previous profitability levels in the coming quarters. Overall, the market reacted to the news cautiously and the stock ended the day trading lower than its opening price. Investors are now looking forward to see if DECKERS OUTDOOR’s efforts to reduce costs and grow its digital presence will be successful in boosting its earnings in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Deckers Outdoor. More…
| Total Revenues | Net Income | Net Margin |
| 3.69k | 535.52 | 14.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Deckers Outdoor. More…
| Operations | Investing | Financing |
| 537.42 | -81.01 | -309.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Deckers Outdoor. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.85k | 1.05k | 67.56 |
Key Ratios Snapshot
Some of the financial key ratios for Deckers Outdoor are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.9% | 22.6% | 18.5% |
| FCF Margin | ROE | ROA |
| 12.4% | 24.1% | 15.0% |
Analysis
At GoodWhale, we recently conducted an analysis of DECKERS OUTDOOR‘s fundamentals. Our Risk Rating has determined that DECKERS OUTDOOR is a medium risk investment in terms of financial and business aspects. We have also detected two risk warnings in the income sheet, which are non-financial in nature. If you would like to have a closer look at our findings, please register on goodwhale.com. You will be able to access deeper information and insights related to the company’s current situation and future prospects. More…
Peers
Deckers Outdoor Corp, together with its subsidiaries, engages in the design, manufacture, and marketing of footwear, apparel, and accessories for casual lifestyle use and high performance activities. Its principal brands include UGG, Koolaburra, HOKA ONE ONE, and Teva. The company sells its products to retailers in the United States and 180 countries through its direct-to-consumer channels and third-party distributors. As of December 31, 2018, it operated 310 UGG stores, including full-price, factory, and outlet stores; and e-commerce Websites. The company was founded in 1973 and is headquartered in Goleta, California. Puma SE, together with its subsidiaries, designs, develops, markets, and distributes athletic and casual footwear, apparel, and accessories. The company operates through two segments, Wholesale and Retail. It offers performance and sport-inspired lifestyle products in categories, such as football, running, training, golf, and motorsports. The company sells its products to shoe stores, sporting goods stores, department stores, golf pro shops, tennis specialty stores, mass market retailers, and its own Internet Websites and direct-to-consumer stores. As of December 31, 2018, it operated 1,478 company-owned stores. Puma SE was founded in 1948 and is headquartered in Herzogenaurach, Germany. Vera Bradley, Inc. designs, manufactures, markets, and retails functional accessories for women under the Vera Bradley brand name. The company offers a range of products, including handbags and totes, wallets and wristlets, travel and leisure items, stationery and gifts, eyewear and sunglasses, shoes, baby items, fragrance collections, and home products. It offers its products through its Vera Bradley retail stores; direct-to-consumer channels comprising Vera Bradley direct Website; company-owned outlet stores; company-owned factory outlet stores; independent specialty retailers; national chains; college bookstores; and other retailers. Vera Bradley, Inc. was founded in 1982 and is headquartered in Roanoke, Indiana. Steven Madden, Ltd. designs, sources, markets, licenses, and sells fashion footwear and accessories for women, men, and children worldwide. The company operates through three segments: Wholesale Footwear, Retail, and Licensing. It designs and sources footwear for women under the Steve Madden Women’s Wholesale Footwear, Madden Girl Wholesale Footwear, Freebird by Steven Wholesale Footwear, Betsey Johnson Wholesale Footwear, Dolce Vita Wholesale Footwear, Mad Love Wholesale Footwear, Steven by Steve Madden Wholesale Footwear, Superga Wholesale Footwear, Report Signature Wholesale Footwear, Maurice Mallet Wholesale Footwear, Greyson Wholesale Footwear, BB Dakota Wholesale Footwear, Blondo Wholesale Footwear, Big Star Vintage Wholesale Footwear, Wild Diva Lounge Wholesale Footwear, Bamboo Wholesale Footwear, Betseyville Wholesale Footwear, DVDO by Steve Madden Wholesale Footwear, Cejon Wholesale Footwear, Steve Madden Men’s Wholesale Footwear, De Blossom Collection Wholesale Footwear, Steven by Steve Madden Kids’ Wholesale Footwear, Brian Atwood Wholesale Footwear, Blondo Kids’ Wholesale Footwear, and Betsey Johnson Kids’ Wholesale Footwear brands.
– Puma SE ($OTCPK:PUMSY)
Puma SE, formerly known as Puma AG Rudolf Dassler Sport, is a German multinational corporation that designs and manufactures athletic and casual footwear, apparel and accessories, headquartered in Herzogenaurach, Bavaria. As of 2022, Puma SE has a market cap of 6.88B and a Return on Equity of 16.63%. The company operates in more than 120 countries and employs over 13,000 people worldwide. Puma is the third largest sportswear manufacturer in the world. The company was founded in 1948 by Rudolf Dassler.
– Vera Bradley Inc ($NASDAQ:VRA)
Vera Bradley Inc is a designer and marketer of accessories for women. The company operates through three segments: Direct, Indirect, and Other. The Direct segment offers products through the company’s owned retail stores and website. The Indirect segment provides products to department stores, specialty retailers, and national chains. The Other segment includes licensing and corporate-owned outlets. Vera Bradley Inc was founded in 1982 and is headquartered in Roanoke, Indiana.
– Steven Madden Ltd ($NASDAQ:SHOO)
Steven Madden, Ltd. is a leading designer, marketer and distributor of fashion footwear and accessories for women, men and children. The Company’s wholesale business is engaged in the design, sourcing and marketing of footwear for young women, men and children. The Company’s retail business is engaged in the operation of specialty retail stores and e-commerce Websites, as well as the sale of its products to department store and other retailers. The Company’s products are marketed under a variety of brands, including Steve Madden, Freebird by Steven, Steven by Steve Madden, Grace, Betsey Johnson, Brian Atwood, Blondo, David Tate, Dolce Vita, DV by Dolce Vita, ENZO ANGIOLINI, Mad Love, L.A.M.B., Big Buddha, Report, Wild Diva, CeCe, Betseyville by Betsey Johnson and Superga.
Summary
Investors are encouraged by the strong financial performance of DECKERS OUTDOOR in the first quarter of FY2024. Total revenue increased by 10.0% year-over-year to USD 675.8 million, while net income rose 41.7% to USD 63.6 million. Despite the positive financial results, the stock price moved down on the same day. Overall, investors appear optimistic about DECKERS OUTDOOR’s future prospects and may continue to invest in the company in the coming quarters.
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