The earnings per share guidance does not assume any impact from additional share repurchases.Diluted earnings per share is now expected to be in the range of $17.50 to $18.35.Effective tax rate is still expected to be approximately 22% to 23%.Operating margin is still expected to be in the range of 17.5% to 18.0%.SG&A expenses as a percentage of sales are still projected to be approximately 34%.
Gross margin is still expected to be approximately 51.5%.Net sales are still expected to be in the range of $3.45 billion to $3.50 billion.This outlook assumes no meaningful changes to the Company's business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to: the impact of the COVID-19 pandemic on our business and operations, including supply chain disruptions, constraints and related expenses labor shortages changes in economic conditions, inflationary pressures, consumer confidence and discretionary spending and geopolitical tensions.
The Company's full fiscal year 2023 outlook is forward-looking in nature, reflecting our expectations as of July 28, 2022, and is subject to significant risks and uncertainties that limit our ability to accurately forecast results. In addition, the Board of Directors has approved an increase of $1.2 billion to the Company's stock repurchase authorization, which brings the Company's total outstanding authorization to approximately $1.5 billion.įull Fiscal Year 2023 Outlook for the Twelve Month Period Ending March 31, 2023 As of June 30, 2022, the Company had $354.0 million remaining under its stock repurchase authorization.
Inventories, which include amounts in-transit, is $839.5 million compared to $457.7 million.Cash and cash equivalents is $695.2 million compared to $956.7 million.Other brands, primarily composed of Koolaburra®, net sales decreased 45.3% to $2.7 million compared to $5.0 million.īalance Sheet (June 30, 2022 as compared to June 30, 2021).Sanuk® brand net sales decreased 5.9% to $14.2 million compared to $15.0 million.Teva® brand net sales increased 2.0% to $59.6 million compared to $58.5 million.UGG® brand net sales decreased 2.4% to $207.9 million compared to $213.0 million.HOKA® brand net sales increased 54.9% to $330.0 million compared to $213.1 million.Diluted earnings per share was $1.66 compared to $1.71.įirst Quarter Fiscal 2023 Brand Summary (Compared to the Same Period Last Year).Operating income was $56.3 million compared to $61.8 million.Selling, general, and administrative (SG&A) expenses were $238.4 million compared to $198.7 million.Gross margin was 48.0% compared to 51.6%.International net sales increased 36.4% to $229.9 million compared to $168.6 million.Domestic net sales increased 14.4% to $384.5 million compared to $336.1 million.Comparable DTC net sales increased 14.9%. Direct-to-Consumer (DTC) net sales increased 15.4% to $185.1 million compared to $160.4 million.Wholesale net sales increased 24.7% to $429.4 million compared to $344.3 million.On a constant currency basis, net sales increased 23.5%. Net sales increased 21.8% to $614.5 million compared to $504.7 million.In addition, our Board's recent approval of a significantly increased share repurchase authorization shows a great deal of confidence in our long-term strategic plan and the opportunities that lie ahead."įirst Quarter Fiscal 2023 Financial Review (Compared to the Same Period Last Year) "The HOKA brand's speed to achieve this feat is exciting, especially as the brand's increasing penetration to our portfolio benefits Deckers' overall quarterly financial and operational performance. "Fiscal year 2023 is off to a solid start, with HOKA driving strong growth, propelling the brand to eclipse the billion-dollar milestone over the trailing twelve-month period," said Dave Powers, President and Chief Executive Officer. The Company also reaffirmed its financial outlook for the full fiscal year ending March 31, 2023. GOLETA, Calif., J/PRNewswire/ - Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced financial results for the first quarter ended June 30, 2022. Board of Directors Approved Additional Share Repurchase Authorization of $1.2 Billion.FY 2023 EPS Guide Raised to $17.50- $18.35, Reflecting First Quarter Share Repurchase.FY 2023 Revenue Growth 10-11% and Operating Margin 17.5-18.0% Guide Reiterated.HOKA Achieves One-Billion Dollar Revenue Milestone on Trailing Twelve Months.