In This Story
Deckers Outdoor Corporation (DECK-2.60%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports an increase in net sales to $1,827,165,000, up from $1,560,307,000 in the same quarter the previous year. This growth is attributed to higher global net sales across all channels for the UGG and HOKA brands.
Gross profit for the quarter was $1,102,623,000, with a gross margin of 60.3%, compared to 58.7% in the previous year. The increase in gross margin is due to favorable product mix and higher levels of full-price selling.
Selling, general, and administrative expenses increased to $535,349,000 from $428,670,000, driven by higher advertising and promotion expenses, foreign currency-related losses, and other operating expenses.
Income from operations rose to $567,274,000, compared to $487,899,000 in the same quarter the previous year. This increase was primarily due to higher net sales at higher gross margins.
Net income for the quarter was $456,734,000, up from $389,919,000 in the previous year. The effective income tax rate was 21.8%, slightly down from 21.9% in the previous year.
Cash and cash equivalents at the end of the period were $2,240,923,000, compared to $1,502,051,000 at the end of the previous fiscal year. The company reported net cash provided by operating activities of $1,117,515,000 for the nine months ended December 31, 2024.
The filing also notes the completion of the sale of the Sanuk brand and the company's plans to phase out standalone operations for the Koolaburra brand.
Deckers does not anticipate any material changes to its liquidity and capital resources, and the company believes it has sufficient liquidity to meet its working capital requirements for the next 12 months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Deckers Outdoor Corporation quarterly 10-Q report dated February 3, 2025. To report an error, please email earnings@qz.com.