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Deckers Outdoor Corp. (NASDAQ:DECK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 7.15%.
Deckers Outdoor Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.89% to $2.77 in the quarter versus EPS of $3.18 in the year-earlier quarter.
Revenue: Rose 2.23% to $617.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Deckers Outdoor Corp. reported adjusted EPS income of $2.77 per share. By that measure, the company beat the mean analyst estimate of $2.61. It missed the average revenue estimate of $623.02 million.
Quoting Management: “There are several aspects of our fourth quarter performance that we believe underscore the health and relevancy of the UGG brand,” stated Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors. “We experienced strong sales for the UGG brand on our eCommerce websites while at the same time it was widely reported that “UGG” was one of the most searched terms on the internet during the holiday season. Our fourth quarter retail store performance improved versus third quarter trends, while at the same time, weekly sell-through in our domestic wholesale channel accelerated as the fourth quarter progressed culminating in a period of robust full-price selling in late December 2012. While cancellations were higher as a result of the late start to the season, we believe the improved trends we witnessed as temperatures got colder helped our customer account base with improved inventory levels versus a year ago. In the U.K., wholesale sales grew double digits as better than expected sell-through resulted in a meaningful level of reorders during the quarter. Lastly, we are pleased with the performance of the Sanuk brand as demonstrated by double digit sales growth in the fourth quarter.”
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