Deckers Reports Record Q1 Revenue but Shares Drop Due to Cautious Guidance
Deckers (NYSE:DECK) reported record first-quarter revenue of $1.02 billion, surpassing expectations and raising its full-year profit outlook. Despite the strong performance, shares fell by 3.5% in premarket trading due to unchanged revenue guidance that came slightly below Wall Street forecasts. The company's flagship brands HOKA and UGG drove growth with net sales of $703.5 million and $278.0 million respectively. Direct-to-consumer (DTC) revenue rose 13% year-on-year, while international markets outperformed domestic operations by a significant margin. Analysts had mixed reactions to the results; Bank of America reduced its price target for DECK shares citing slower DTC growth expectations, whereas Stifel remained optimistic about the brand portfolio but also lowered its own price target. Deckers maintained full-year revenue guidance at $5.86 billion-$5.91 billion, which is slightly below analyst forecasts.
Tickers: $DECK
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