Deckers (DECK) Beats On Q2 Earnings, Raises FY20 Outlook
Zacks Investment Research | Oct 24, 2019 09:38PM ET
Deckers Outdoor Corporation (NYSE:DECK) continued with its upbeat performance in fiscal 2020. The company’s second-quarter results are the testimony to same. Remarkably, both the top and the bottom lines surpassed the Zacks Consensus Estimate and continued to improve on a year-over-year basis. Impressive performance across HOKA ONE ONE, Teva and Koolaburra brands and strength witnessed in early shipments with respect to the UGG brands’ domestic operations aided the results.
Notably, this was the 11th straight quarter of positive sales and earnings surprises. Apparently, better-than-expected numbers and momentum witnessed in HOKA ONE ONE brand prompted management to lift fiscal 2020 view.
The company remains focused on expanding brand assortments, introducing more innovative line of products, targeting consumers digitally through marketing and sturdy e-commerce, and optimizing omni-channel distribution. All these bode well for the company in the long run. Markedly, shares of this Zacks Rank #1 (Strong Buy) company have increased approximately 34.8% in a year compared with the Zacks Investment Research
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