Summary by Moomoo AI
Deckers Outdoor Corporation reported strong Q1 FY2025 results with net sales increasing 22.1% to $825.3 million, driven by robust performance across its brand portfolio. Gross profit rose 35.7% to $470 million, with gross margin expanding 560 basis points to 56.9%. Net income surged 81.9% to $115.6 million, resulting in diluted earnings per share of $4.52, up 87.2% year-over-year.The HOKA brand continued its impressive momentum with total sales growing 29.7% to $545.2 million, supported by strong wholesale and direct-to-consumer performance. The UGG brand also demonstrated solid growth with sales increasing 14% to $223 million, benefiting from higher domestic wholesale demand and improved full-price selling. International sales grew 20.8% to $309.5 million, representing 37.5% of total revenue.Looking ahead, the company announced plans to divest the Sanuk brand, with the sale expected to close in August 2024. Additionally, Deckers maintains a strong financial position with $1.44 billion in cash and cash equivalents, while continuing its share repurchase program with $789.7 million remaining authorization as of quarter-end. The company also announced a CEO transition, with Stefano Caroti succeeding Dave Powers effective August 1, 2024.
