Hoka and Ugg brands boosts Deckers Q1 sales to $825.3m

Global apparel and footwear brand Deckers has reported a 22.1% increase in net sales to $825.3m (£641.6m) for the first fiscal quarter ended June 30, 2024.

The group attributed this Q1 growth to its Hoka and Ugg brands which performed particularly well.

Hoka’s net sales were up 29.7% to $545.2m (£423.8m), while Ugg’s sales increased 14.0% to $223.0m (£173.3m).

Direct-to-Consumer (DTC) and wholesale net sales also increased 24.0% and 21.0% to $310.6m (£241.4m) and $514.8m (£400.2m) respectively.

Meanwhile, its domestic sales grew to $515.9m (£401.1m), up 23.0% and international sales saw a rise of 20.8% to $309.5m (£240.6m).

Additionally, the group’s operating income increased from $70.7m (£54.97m) to $132.8m (£103.2m), and gross margin increased from 51.3% to 56.9%.

Dave Powers, president and chief executive officer, said: “As this is my last quarter to report as CEO, I am pleased to share these strong results to kick-off fiscal year 2025. HOKA and UGG continue to drive robust full-price demand in the global marketplace by delivering compelling products that consumers love. Deckers has an exciting future ahead as Stefano transitions into his new role as CEO next week.”

Stefano Caroti, chief commercial officer and incoming president and CEO, added: “Fiscal year 2025 is off to a great start, with Hoka and Ugg delivering fantastic first quarter results that have contributed to our increased outlook for the full fiscal year. I’m excited by the opportunity to now lead Deckers and its iconic brands, with the support of our talented teams that remain focused on the long-term opportunities ahead for this great company.”