Deckers Shares Fall After Sales Miss
Deckers Outdoor reported second quarter sales below estimates as aggressive discounting by competitors weighed on demand. Shares of the maker of UGG boots and Hoka sneakers dropped eight percent in extended trading.
DECKERS OUTDOOR CORP reported second-quarter sales of $1.48B that missed estimates of $1.51B as aggressive rival discounting weighed on demand. Shares fell 8% in extended trading on October 22. The results underscore mounting pressures on premium footwear makers as shoppers rein in discretionary spending.
Comparable direct-to-consumer sales fell 6.4% in the quarter ended September 30. Executive leadership pointed to heightened promotional activity across the United States, particularly in athletic footwear, which pressured e-commerce channels as the company maintained full-price discipline.
