Deckers revenue growth in Q4 and the full year boosted by Ugg sales
Deckers has released its financial results for its fourth quarter and full year ending 31 March 2022, with the sales led by its Ugg brand.
For its fourth quarter, the owner of Hoka, Ugg and Teva reported 31.2% increase in net sales to £623 million ($736 million) and net income of £58.3 million ($68.8 million). Ugg saw net sales increase 24.7% to £317.4 million ($374.6 million).
Wholesale net sales increased 37.6% to £380.3 million ($448.8 million) while Direct-to-Consumer (DTC) net sales increased 22.2% to £243.4 million ($287.2 million).
For fiscal year 2022, Deckers recorded that net sales increased 23.8% to £2.9 billion ($3.15 billion), on top of 19.4% growth last year. Ugg net sales grew 15.4% over 2021 to £1.6 billion ($1.9 billion).
Wholesale net sales increased 31.0% to £1.6 billion ($1.9 billion) compared to £1.1 billion ($1.4 billion) in the same period last year. DTC net sales increased 13.8% to £1 billion ($1.2 billion).
Dave Powers, President and Chief Executive Officer said: "Fiscal year 2022 was another record year for Deckers, as we delivered both revenue and earnings per share growth above twenty percent.
"Over the last two years, our portfolio of brands has added more than one billion dollars of revenue, while making progress towards key long-term strategies, and maintaining top-tier levels of profitability, despite navigating unprecedented disruption across the global supply chain. I am incredibly proud of our performance over the last couple of years, but with the power of our brands and our people, I am even more excited about the opportunities ahead."