Hoka has significantly contributed to Deckers’ remarkable sales performance in the first fiscal quarter of 2024.
- Hoka’s net sales surged by 29.7%, amounting to $545.2 million (£425.5 million).
- Deckers’ total net sales rose by 22%, reaching $825.3 million (£643.2 million).
- Direct-to-consumer sales across all Deckers brands increased by 24%.
- While Hoka and Ugg showed robust growth, Teva and Sanuk experienced declines in sales.
Hoka has proven to be a key player in enhancing Deckers’ sales figures, showcasing a 29.7% increase in net sales, reaching $545.2 million (£425.5 million) for the first fiscal quarter ending 30 June 2024. Contributing a substantial two-thirds of Deckers’ total net revenue, Hoka’s performance highlights its growing appeal in the running trainer market.
Deckers’ total net sales increased by 22.1%, amounting to $825.3 million (£643.2 million). When viewed under constant currency terms, this equates to a 23% increase. These numbers underscore the positive impact of Hoka, which accounts for a major share of the company’s revenue.
The direct-to-consumer (DTC) segment, encompassing brands such as Ugg, Teva, Sanuk, and Koolaburra, saw a 24% rise in net sales, totalling $310.6 million (£242 million). This reflects a strategic focus on engaging consumers directly and enhancing brand loyalty.
Wholesale net sales grew by 21% to $514.8 million (£401.2 million), further amplifying the overall growth narrative of Deckers. However, the performance varied across different brands.
While Ugg recorded a 14% rise in sales, amounting to $223 million, Koolaburra experienced a dramatic 123.5% increase, totalling $4 million (£3.1 million). In contrast, Teva and Sanuk saw declines of 4.3% and 28.4%, respectively. This divergence illustrates the varied market dynamics faced by the different brands within Deckers’ portfolio.
Deckers’ president and CEO, Dave Powers, who is set to retire after twelve years at the company, expressed satisfaction with these results. He noted that Hoka and Ugg continue to meet global market demands by offering products that resonate with consumers.
As Powers steps down, Stefano Caroti, the current Chief Commercial Officer, will assume the role of CEO, indicating a continuity in leadership amid the company’s growth trajectory.
Deckers’ strategic focus on key brands like Hoka and Ugg has significantly bolstered its sales performance in an ever-evolving market.
