My friend went to one of the biggest outlets in SoCal and ugg had one of the longest lines to get inside. It was probably longer than coach. She also notice ugg had lots of inventory in the back of the store. The sale was pretty attractive. I believe the markdown was their attempt to get rid of their inventory from last year. The long line tells me the products are still in high demand and are popular still. Not as much of a fad as many on Wall Street think. I hope to hear the good news in their earnings that the inventory issue is fixed and under control. This will help turn things around. Remember, this is so cal we are talking about, still enjoying 80 degree weather this weeken this time of year. People still want their uggs, at lower price... But still, it is still quite popular, over the imitations. The stock could see a massive squeeze after their earnings if inventory problem is under control.
Asked about UGG sales at Nordstrom's and Dillard's in Dallas Fort Worth area. Nordstrom's salesperson said shoe sales had been slow, but UGG sales had held up well. Dillard's salesman said UGG boots had been selling briskly. Mall traffic at the two malls I visited seemed light. On local news tonight they reported that Black Friday shoppers and total sales were up over last year--same for online shoppers. When a young girl was asked what was on her wish list, she replied "Uggs". I did a fist pump as if someone had just scored a touchdown. And now the story about DECK being "in play". I don't see how the stock being cheap makes it "in play". Has anyone heard anything concrete about interested buyers(not potential buyers)? Hopefully the story suggests some big player wants to move the stock higher.