Deckers Outdoor Corp | $DECK Stock | Shares Spark To Life On Q3 Earnings

3568
deckers

Deckers Outdoor Corp (NYSE: DECK)

 

On Thursday February 1, 2018 Deckers Corporation, the mammoth outdoor footwear and apparel company widely known mainly for their UGG brand of shoes,sandals and boots, reported their fiscal third quarter earnings after the market closed for trading. Shares initially shot up and then formed a sideways base as the aftermarket session progressed.

Earning Numbers

The company reported revenues of $810 million dollars; this beat analyst’s forecasts handily. The average analyst estimate was for $750 million dollars. Earnings were $86 million dollars which equals $4.97 per share after adjustments for pre-tax expenses and restructuring fees.

Analyst’s had been expecting $3.84 per share. And, looking forward, the company stated that they expect revenues to come in between $370 and $375 million dollars in the next quarter which might pose a problem because analyst’s are currently projecting revenue’s at 379 million dollars.

Company Comments

Dave Powers, President and Chief Executive Officer had this to say in the conference call,

“Our third quarter results, which meaningfully exceeded expectations, underscore the progress we have made developing a stronger foundation to support profitable growth. Our refined product strategies, enhanced consumer messaging and wholesale account optimization efforts resulted in much stronger full price selling for our brand portfolio during the key holiday season. While more favorable weather also contributed to our year-over-year improvement, hard work by the entire organization enabled us to capitalize on additional upside opportunities. Looking ahead, I am confident that the successful execution of our profit improvement plan, combined with the recently passed tax reform, has Deckers in a great position to deliver increased value to our shareholders in the years ahead.”

Deckers Charts

deckers

The above price chart shows Deckers going back roughly 6 months ago on the daily time frame. You can see the green support trend line and the red dotted resistance line. Due to the Stellar earnings that Deckers reported, shares will now like the open above that red dotted resistance line and possibly create a new uptrend.

deckers

The above price chart shows the after-hours trading session on the 5-minute chart for Deckers. You will see that same red dotted line which was illustrated in the above daily price chart.

Isn’t it interesting that the after hours session showed the price blasting through the red dotted line and then balancing downward and finding support right at that line. So it is likely that is where  traders will be watching in the morning to see if it holds.

Company Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high performance activities.

It offers premium footwear under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and sidewalk surfers shoe, and yoga mat and beer cozy sandal collections under the Sanuk brand name.

The company also provides running footwear under the Hoka brand name; and fashion casual footwear using sheepskin and other plush materials under the Koolaburra brand. It sells its products through department stores, domestic independent action sports retailers, outdoor retailers, specialty footwear retailers, and larger national retail chains, as well as online retailers such as Amazon and Zappos.com.

The company also sells its products directly to end-user consumers through its retail stores and E-commerce Websites, as well as distributes its products through distributors and retailers in the United States, Europe, the Asia-Pacific, Canada, Australis, Latin America, and internationally.

As of March 31, 2016, it had 160 retail stores, including 96 concept stores and 64 outlet stores worldwide. The company was founded in 1973 and is headquartered in Goleta, California.-YahooFinance

 

IMAGE CREDIT

NO COMMENTS