"Fiscal 2019 represented another successful year for the Deckers organization, surpassing the milestone of 2.0 billion US dollars in revenue and doing so with exceptional levels of profitability, while achieving our long-range targets a year ahead of schedule", commented Dave Powers, President and Chief Executive Officer, adding: "As we move forward in our strategic plan, we will maintain focus on positioning our brands for the future by enhancing our relationship with consumers, continuing to deliver innovative product solutions, and building brand awareness and strength across global markets."

Fourth Quarter Review

In the last three months of the year, net sales decreased by 1.6% to 394.1 million US dollars compared to 400.7 million US dollars for the same period last year. On a constant currency basis, net sales decreased by 1.3%. Operating income was 31.6 million US dollars compared to 18.3 million US dollars for the same period last year. Non-GAAP operating income was 32.9 million US dollars this year compared to 19.9 million US dollars last year.
 

Full Year Review

Net sales increased by 6.2% to 2.020 billion US dollars compared to 1.903 billion US dollars for the same period last year. On a constant currency basis, net sales increased by 5.8%. Operating income was 327.3 million US dollars compared to 222.6 million US dollars for the same period last year. Non-GAAP operating income was 327.0 million US dollars this year compared to 236.5 million US dollars last year.

Brand Summary

UGG brand net sales for the fourth quarter decreased by 7.2% to 239.0 million US dollars compared to 257.5 million US dollars for the same period last year. For fiscal year 2019, net sales increased by 1.7% to 1.533 billion US dollars. HOKA ONE ONE brand net sales for the fourth quarter increased by 33.2% to 67.1 million US dollars compared to 50.4 million US dollars for the same period last year. For fiscal year 2019, net sales increased 45.4% to 223.1 million US dollars. Teva brand net sales for the fourth quarter decreased 3.8% to 52.9 million US dollars compared to 55.0 million US dollars for the same period last year. For fiscal year 2019, net sales increased 2.9% to 137.4 million US dollars. Sanuk brand net sales for the fourth quarter decreased by 11.7% to 31.5 million US dollars compared to 35.6 million US dollars for the same period last year. For fiscal year 2019, net sales decreased 9.1% to 82.6 million US dollars.

Channel Summary

Wholesale net sales for the fourth quarter increased by 6.4% to 237.5 million US dollars compared to 223.1 million US dollars for the same period last year. For fiscal year 2019, wholesale net sales increased by 9.9% to 1.305 billion US dollars. DTC net sales for the fourth quarter decreased by 11.8% to 156.6 million US dollars compared to 177.6 million US dollars for the same period last year. DTC comparable sales for the fourth quarter decreased 0.5% over the same period last year. For fiscal year 2019, DTC net sales decreased by 0.1% to 715.0 million US dollars and DTC comparable sales increased by 1.9%.

Geographic Summary

Domestic net sales for the fourth quarter increased by 1.2% to 252.0 million US dollars compared to 249.0 million US dollars for the same period last year. For fiscal year 2019, domestic net sales increased by 8.9% to 1.278 billion US dollars. International net sales for the fourth quarter decreased 6.3% to 142.1 million US dollars compared to 151.7 million US dollars for the same period last year. For fiscal year 2019, international net sales increased 1.8% to 742.1 million US dollars.