Ugg boot maker Deckers’ fiscal Q1 earnings, sales top views, stock up 4%

Deckers Outdoor Corp. stock jumped more than 4% in the extended session Thursday after the maker of Teva sandals and Ugg boots, among other brands, reported fiscal first-quarter earnings and sales above Wall Street expectations and tweaked higher its per-share earnings outlook for the year. Deckers said it earned $44.9 million, or $1.66 a share, in the quarter, compared with $48.1 million, or $1.71 a share, in the year-ago quarter. Sales rose 22% to $614.5 million, the company said. FactSet consensus called for EPS of $1.21 a share on sales of $566 million. For fiscal 2023, Deckers said it still expects sales in a range between $3.45 billion and $3.50 billion and gross margins of about 51.5%. It expects EPS between $17.50 and $18.35 for the year, compared with a previous expectation of EPS between $17.40 and $18.25 when it reported fiscal fourth-quarter results in May.

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