Sep 12

Uggs cory

CEO and Chairman Angel Martinez commented on the results,Over the past two years, we have raised prices on selective key styles to help mitigate the impact of an 80% increase in our sheepskin and raw material costs over this same period. We believe that these selective price increases, particularly during a period of one of the warmest years on record, has pushed us above the consumers‘ price-value expectations for the UGG brand.Net sales for the UGG brand fell 11.6% to $332.8 million. The decrease in sales was driven by lower domestic and international sales. Same store sales declines were partially offset by an increase in new retail store openings and eCommerce sales.

Net sales for the division rose 22.1% to $17.9 million. Sales increases were driven by an increase in international distributor sales and the launch of the brand in Japan.Net sales for Sanuk rose 17.6% to $18.3 million. Sales growth was driven by domestic wholesale and eCommerce sales.For the full year of 2012, Deckers expects to increase annual sales by some 5%. This implies full year revenues of $1.45 billion. Earlier, the company guided for 14% full year revenue growth which implied full year sales of $1.57 billion. The guidance assumes that fourth quarter revenues are expected to come in around $653 million, up 6% on the year.

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to Deckers Outdoor Corporation First Quarter Fiscal 2013 Earnings Conference Call. [Operator Instructions] I would like to remind everyone that this call is being recorded.Before we begin, I would like to remind everyone of the company’s Safe Harbor policy. Please note that certain statements made on this call regarding the company’s expectations, beliefs and views about its future financial performance, brand strategies and cost structure are forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. These statements relate to the company’s anticipated revenues, expenses, earnings, gross margin, capital expenditures, brand strategies and cost structure, as well as the outlook for the company’s markets and demand for its products.

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