Deckers Brands has reported a strong financial performance in the fourth quarter of fiscal year 2024, with an 18% increase in annual revenue to $4.3 billion. The company's earnings per share soared by 51% to $29.
16, supported by significant growth in the HOKA and UGG brands. HOKA's revenue jumped by 28% to $1.8 billion, while UGG's revenue grew by 16% to $2.
2 billion. The direct-to-consumer (DTC) segment saw a 27% increase, contributing to the overall success. Deckers anticipates a 10% revenue growth for FY2025, with HOKA expected to drive a 20% increase.
Key Takeaways Deckers Brands' annual revenue grew by 18%, reaching $4.3 billion. Earnings per share increased by 51%, hitting $29.
16. Gross margin improved by 530 basis points to 55.6%.
HOKA revenue rose by 28% to $1.8 billion, while UGG revenue increased by 16% to $2.2 billion.
DTC sales for Deckers grew by 27%; HOKA's DTC sales now represent 38% of its total revenue. The company expects a 10% revenue growth in FY2025, with HOKA anticipated to contribute a 20% increase. Company Outlook Deckers projects a top-line revenue growth of about 10% for fiscal year 2025.
HOKA is forecasted to drive a substantial 20% increase in revenue. UGG is expected to see mid-single-digit growth. Gross margins are estimated to be around 53.
5%. SG&A expenses are projected to remain at approximately 34% of revenue. Operating margin is anticipated to be around 19.
5%. The effective tax rate is expected to range from 22% to 23%. Bearish Highlights SG.