Ugg owner revenues rise by 25% in Q2
Due to Deckers’ Q2 sales increase, the New York Stock Exchange-listed group has upped its sales outlook for the fiscal year 2023/24 to $4.02bn (£3.3bn)
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The owner of Ugg and sportswear label Hoka, Deckers, saw a 25% year-on-year rise in revenues to $1.09bn (£900m) in Q2 for the period ended 30 September.
The group attributed its performance to rising demand for Ugg and Hoka, as sales for the two products jumped 28.1% year-on-year to $610.5m (£503.3m) and 27.3% to $424m (£349.5m) respectively.
Meanwhile, direct-to-consumer net sales increased 38.8% year-on-year to $331.7m (273.4m). Wholesale net sales at the group also rose 19.4% to $760.2m (£626.7m).
Due to Deckers’ Q2 sales increase, the New York Stock Exchange-listed group has upped its sales outlook for the fiscal year 2023/24 to $4.02bn (£3.3bn).
Dave Powers, president and CEO of Deckers Brands, said: “Our team’s ability to deliver compelling products that create emotional connections with consumers through engaging marketing campaigns, differentiates our brands in a competitive marketplace.
“This, paired with our strategic approach to marketplace management, led by our DTC channel, remains paramount.”
He added: “We are focused on maintaining the integrity of our healthy brands to deliver the results detailed in our increased outlook, while remaining aligned with long-term objectives.”
