"First quarter performance was a testament to the resilience of our brands, the strength of our ecommerce platform, and the hard work of our employees", commented Dave Powers, President and Chief Executive Officer. "While we are encouraged by the positive start to fiscal year 2021, we expect further challenges related to the COVID-19 pandemic, depending on the duration and severity of economic effects. We continue to believe our powerful brands, advanced omni-channel capabilities, and healthy balance sheet provide the foundation for our organization to weather this challenging environment and succeed over the long-term", concluded Mr. Powers.

First Quarter Review

Net sales increased by 2.3% to 283.2 million US dollars compared to 276.8 million US dollars for the same period last year. On a constant currency basis, net sales increased by 2.8%. Gross margin was 50.3% compared to 47.0% for the same period last year.

Brands Summary
UGG brand net sales for the first quarter decreased by 10.0% totalling 124.7 million US dollars compared to 138.5 million US dollars for the same period last year. Net sales for the HOKA ONE ONE brand in the first quarter increased by 37.1% reaching 109.0 million US dollars (compares to 79.5 million US dollars for the same period in 2019). Teva brand net sales for the first quarter decreased by 7.9% to 35.2 million US dollars compared to 38.3 million US dollars for the same period last year. Net sales attributed to the Sanuk brand for the first quarter decreased by 29.2% to 13.2 million US dollars compared to 18.7 million US dollars for the same period last year.

Channel Summary
DTC net sales for the first quarter increased by 74.2% to 139.8 million US dollars compared to 80.3 million US dollars for the same period last year. Wholesale net sales for the first quarter decreased by 27.1% to 143.3 million US dollars compared to 196.6 million US dollars for the same period last year.

Geographic Summary
Domestic net sales for the first quarter increased by 10.2% to 184.3 million US dollars compared to $167.3 million US dollars for the same period last year. International net sales for the first quarter decreased 9.7% to 98.9 million US dollars compared to 109.5 million US dollars for the same period last year.