Hoka’s robust performance has significantly contributed to Deckers’ sales growth in the first fiscal quarter.
- Hoka’s net sales surged by 29.7% to reach $545.2 million (£425.5 million) by 30 June 2024.
- This surge has helped elevate Deckers’ overall sales by 22%, showcasing the brand’s market influence.
- Deckers’ other brands, including Ugg and Koolaburra, also showed positive growth in various segments.
- Outgoing CEO Dave Powers expressed satisfaction with these results, noting the strong demand for Hoka and Ugg.
Hoka, a leading running trainer brand, reported an impressive 29.7% increase in net sales, amounting to $545.2 million (£425.5 million), by the end of the first fiscal quarter on 30 June 2024. This growth has made a significant contribution to Deckers’ total sales, which rose by 22% for the period.
In total, Deckers’ net sales advanced by 22.1%, reaching $825.3 million (£643.2 million). On a constant currency basis, this increase was even higher at 23%. Notably, Hoka accounted for two-thirds, or 66%, of the total net sales for the quarter, underscoring its pivotal role in the company’s portfolio.
The company’s direct-to-consumer (DTC) net sales across its various brands, which include Ugg, Teva, Sanuk, and Koolaburra, climbed by 24% to $310.6 million (£242 million). At the same time, wholesale net sales grew by 21%, amounting to $514.8 million (£401.2 million).
Ugg, another prominent brand under the Deckers umbrella, recorded a 14% increase in net sales to $223 million (£173.7 million). Meanwhile, Koolaburra saw its sales more than double, increasing by 123.5% to $4 million (£3.1 million). However, brands like Teva and Sanuk experienced declines, with sales dropping by 4.3% and 28.4%, respectively.
Deckers’ president and CEO, Dave Powers, who is set to retire after 12 years with the company, commented on the fiscal results with optimism. He remarked, ‘Hoka and Ugg continue to drive robust full-price demand in the global marketplace by delivering compelling product that consumers love.’ Powers is to be succeeded by Stefano Caroti, currently Deckers’ Chief Commercial Officer.
These results illustrate the integral role of Hoka and key brands in shaping Deckers’ successful start to the fiscal year.
