Ugg boots maker Deckers stock rallies as fiscal Q4 profit, sales rise

Shares of Deckers Outdoor Corp. rose more than 7% in the extended session Thursday after the maker of Ugg boots, Teva sandals and other footwear and apparel reported fiscal fourth-quarter earnings well above Wall Street expectations. Deckers said it earned $33.5 million, or $1.18 a share, in the quarter, compared with 57 cents a share in the year-ago period. Sales rose 50% to $561.2 million, from $374.9 million a year ago. Analysts polled by FactSet had expected earnings of 82 cents a share on sales of $447 million. There was “broad-based” demand for Ugg-brand products and growth for its Hoka brand of running shoes, Deckers Chief Executive Dave Powers said in a statement. The company guided for full-year 2022 sales between $2.95 billion and $3 billion, and EPS between $14.05 and $14.65. The stock ended the regular trading day down 3.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.