"Our record third quarter performance was propelled by demand across the UGG brand's diversified product offering and the continued global expansion of the HOKA ONE ONE brand", started commenting Dave Powers, President and Chief Executive Officer. "The performance of our brands was primarily driven by our robust e-commerce engine and the resilience displayed by our teams to overcome significant operational and macro challenges related to the pandemic. With our strong portfolio of brands, stable operating model, and powerful balance sheet, Deckers is well positioned for continued success", he continued.

Third Quarter Review

Net sales increased 14.8% to 1.078 billion US dollars compared to 938.7 million US dollars for the same period last year. On a constant currency basis, net sales increased 13.8%. Income from operations was 328.7 million US dollars compared to 255.8 million US dollars for the same period last year.

Brand Summary

UGG brand net sales for the third quarter increased by 12.2% to 876.8 million US dollars compared to 781.1 million US dollars for the same period last year. HOKA ONE ONE brand net sales for the third quarter increased by 52.1% to 141.6 million US dollars compared to 93.1 million US dollars for the same period last year. Teva brand net sales for the third quarter decreased 8.7% to 15.7 million US dollars compared to 17.2 million US dollars for the same period last year. Sanuk brand net sales for the third quarter decreased 17.3% to 7.0 million US dollars compared to 8.5 million US dollars for the same period last year. Other brands net sales, primarily composed of Koolaburra, for the third quarter decreased 5.5% to 36.7 million US dollars compared to 38.9 million US dollars for the same period last year.

Channel Summary

Wholesale net sales for the third quarter increased 6.2% to 557.9 million US dollars compared to 525.1 million US dollars for the same period last year. DTC net sales for the third quarter increased 25.7% to 519.9 million US dollars compared to 413.7 million US dollars for the same period last year. DTC comparable sales increased 33.8% over the same period last year.

Geographic Summary

Domestic net sales for the third quarter increased 19.3% to 770.5 million US dollars compared to 645.7 million US dollars for the same period last year. International net sales for the third quarter increased 4.8% to 307.2 million US dollars compared to 293.1 million US dollars for the same period last year.

Financial Outlook

Given the ongoing and fluid economic environment related to the COVID-19 pandemic, Deckers will not be providing full year guidance for fiscal year 2021.