"Our brands delivered another stellar quarter, led by record results for both HOKA as well as our consolidated direct-to-consumer business. The consistent strength of Deckers results thus far in fiscal year 2023, despite macroeconomic and currency headwinds, are the result of our brand marketplace management actions and dedication to long-term strategic priorities. We believe UGG and HOKA are two of the healthiest, well-positioned brands in their respective markets, and with the strength of our operating model, Deckers is poised for continued success going forward", commented Dave Powers, President and Chief Executive Officer of Deckers Brands.

Third Quarter Results

In the third quarter of the current fiscal year, the company's net sales reached 1.35 billion US dollars, reflecting an increase of 13.3% as compared to net sales of 1.18 billion US dollars recorded in the same period of fiscal 2022.

Deckers Brands reported that, in the third quarter of fiscal 2023, Hoka's net sales rose by 90.8%, amounting to 352.1 million US dollars and Teva's net sales grew by 48.3%, totalling 30.5 million US dollars, on a comparable basis to the same quarter of the prior fiscal year. On the other end, in the same period, UGG's net sales declined by 1.6% to 930.4 million US dollars, Sanuk's net sales were down by 7.4%, adding 5.6 million US dollars to the company's total revenue, and Other brands' net sales (mainly composed of Koolaburra) decreased by 12.1% to 26.9 million US dollars.

By channel, in the three months to the 31^st of December, the company's wholesale net sales totalled 646.3 million US dollars, up by 8.0%, and direct-to-consumer net sales increased by 18.7%, reaching 699.3 million US dollars, on a comparable basis to the same period of the previous fiscal year.

Instead, by geography, in this period, Deckers brands' domestic net sales were up by 13.9%, amounting to 906.8 million US dollars, and international net sales rose by 12.1%, reaching 438.8 million US dollars, as compared to the same quarter of fiscal 2022.

In the third quarter of fiscal 2023, the Californian-based company posted diluted earnings per share of 10.48 US dollars, on a comparable basis to diluted earnings per share of 8.42 US dollars in a similar period of the prior year.

Full Year Outlook

Deckers Brands has raised its previous guidance for fiscal 2023, and is now expecting net sales in the range of 3.50 billion US dollars to 3.53 billion US dollars and diluted earnings per share of between 18.00 US dollars to 18.50 US dollars.