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Deckers Outdoor Corp. Message Board

jimmach123 38 posts  |  Last Activity: May 15, 2015 6:11 PM Member since: Aug 29, 2006
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  • Reply to

    Sales and earnings report

    by verypure1 May 8, 2015 1:09 PM
    jimmach123 jimmach123 May 15, 2015 6:11 PM Flag

    Last Q, Deck had about 70% of the Zappos women's market overall...boots, accessories, slippers, and about 2-3 of the top 15 mens (slippers/loafers). With that said, the company's execution was simply terrible - they mis-forecast the basics and could not keep stock on hand to meet demand, thus the horrid sales.

    Personally I am going to play a strangle on this - chances are it will either pop 15-20% back up or just further implode into the low 60s to 50s. I feel most of the management should be relieved as they simply do share buy backs and then reissue themselves options, similar to the Boston Beer game that is finally culminating after a run from 70 to over 300 in less than 4 years. Shareholders get the shaft.

  • Reply to

    Way up

    by bwgozep Feb 18, 2015 3:57 PM
    jimmach123 jimmach123 Feb 24, 2015 6:01 PM Flag

    Well now would be the point to pick up LEAPS. 1-2 year outlook is that SAM will keep buying back shares and the price will continue upward.

  • Reply to

    MORE BAD NEWS FOR INTUIT

    by stockcharts_com Feb 11, 2015 7:56 AM
    jimmach123 jimmach123 Feb 12, 2015 8:01 PM Flag

    Buying puts before ER...guidance will be terrible.

  • I am still with TT for convenience, but am going to buy some puts this week for the ER. I understand the logic of greed and trying to maximize profit, but did they not study first-world problems created by other companies like Netflix when you raise prices and act defiant about it? I am sure it will recover, but it is going to drop forecasts...

  • jimmach123 jimmach123 Jan 31, 2015 11:29 PM Flag

    Someone has done it for both Cramer and Fast Money, or at least did a couple years ago, and found their returns were identical to a coin flip combined with a baboon throwing darts.

  • Reply to

    Valuation buyout

    by ethicalysound Jan 30, 2015 1:20 PM
    jimmach123 jimmach123 Jan 31, 2015 11:28 PM Flag

    It is more that this has been a turn-around from 2012-2013 and people are seeing mgmt once again fall on its face. The reports are so similar and the PR is identical in trying to cover up the problems. I think most of your selling was from people who are tired of reports that are full of excuses, sandbagging, and too much appearance of a pump and dump in the 90s.

    Personally I am planning to cut my losses this week and set a strangle into UA for its report - I would say UA has a solid chance of either popping or sinking on this report as it is at nose-bleed levels. With DECK, unlike Lululemon's summer report that was somewhat similar, I see no real turn-around for the company and that right now it is a falling knife. There is no shakeup with this shoddy mgmt and until the CEO is held accountable, he will keep playing these games. I will reconsider when this hits the 50s and becomes a definite buyout candidate.

  • Reply to

    Two reasons not to fear-

    by benshometownflooring Jan 22, 2015 1:02 PM
    jimmach123 jimmach123 Jan 30, 2015 4:03 PM Flag

    Bought insurance as I headed to work (I work odd hours in Asia, so my morning time is really about 1-2pm on the market. I wish I had just cashed everything out and played a strangle - it would have paid off my house. Instead I am basically down a few percent, but nothing compared to what it could have been!

    Now I have to reflect over the weekend to determine my next course of action with this stock - need to see if this support at 66 will hold. This looks similar to 81 last Q, so I will probably sell calls about 10% out of the money on a weekly/bi-weekly basis. I expect mgmt will kick in the share repurchase at these prices.

  • jimmach123 jimmach123 Jan 30, 2015 3:59 PM Flag

    The COO news at a minimum was leaked when it went from 86 to 78 on no news other than a small downgrade in the middle of the day after it was already falling. Again, no good news ever comes out at midnight as their COO press release did. No faith in management at all at this point. Ridiculous conference call as well - they literally failed to keep shelves stocked.

  • Reply to

    Two reasons not to fear-

    by benshometownflooring Jan 22, 2015 1:02 PM
    jimmach123 jimmach123 Jan 30, 2015 3:13 PM Flag

    Thankfully I picked up puts yesterday before close - had a "gut feeling" this would not be pretty. Figured it was insurance in case of a disaster. That COO announcement was a bad omen of things to come. But I really was surprised at this report overall - mgmt just needs to be gone, and I really mean gone - they stink. Execution was awful.

  • Reply to

    Valuation buyout

    by ethicalysound Jan 30, 2015 1:20 PM
    jimmach123 jimmach123 Jan 30, 2015 3:09 PM Flag

    Read the conference call - anytime an ER release lacks top/bottom lines in the first few sentences and I have to search for it we know we have a problem. Martinez was very clear that mgmt did not execute well this Q at all. They literally had solid strong sales but somehow failed to push out enough inventory for the basic boots as well as lacked hedging on FX.

    Glad I picked up puts yesterday - the way they replaced the COO was quite ominous as I repeat: no company or person releases infromation at nearly midnight when it is good news.

  • Reply to

    Earnings After Close

    by gburns_50 Jan 29, 2015 10:23 AM
    jimmach123 jimmach123 Jan 29, 2015 1:44 PM Flag

    I would concur. Guidance will move it - hedged with some puts just in case.

  • Reply to

    $65 - $70 tomorrow morning

    by spittinimage6 Jan 29, 2015 10:22 AM
    jimmach123 jimmach123 Jan 29, 2015 1:13 PM Flag

    While I agree the midnight announcement was suspicious, you know he announced he was retiring in April? Not a shocker, but expecting solid numbers with guidance to flop.

  • Reply to

    Options options options..earnings..

    by bullrunning2day Jan 23, 2015 11:39 AM
    jimmach123 jimmach123 Jan 23, 2015 4:57 PM Flag

    I love your logic - if we went by this, then explain last Q and last year at this time. No warnings and yet poor guidance led to sell offs over 10% each time. While those were buying opportunities, it is hard for LT investors to swallow. Unless you conceive the big boys sold 80s for today on Monday morning and then sold off their shares, I call BS. Additionally, the 2-3x spike in volume on Tuesday with the midnight PR for a new COO just smells awful - nobody releases good news at midnight just like your boss does not call you at 2am to tell you how great of a job you are doing.

    I find it eerie that today Sam Poser said he is bullish on DECK, but then went on to cut his estimates by just over 1% to 4.77. Looking at this, I would expect DECK to come in around 4.85-5.00. I am waiting for 75 or under to buy more calls prior to the ER; if it does not get there, then I will simply wait for a post ER drop to initiate a new position. It all comes down to guidance.

    This stock can only be played through buying on dips and selling at any possible chance you have as it is the epitome of a rollercoaster. LT investors have been the bagholders as this has moved nowhere over the last year, even if you bought on dips.

  • Reply to

    Two reasons not to fear-

    by benshometownflooring Jan 22, 2015 1:02 PM
    jimmach123 jimmach123 Jan 22, 2015 11:12 PM Flag

    Analysts are paid to provide an opinion to clients that fits the desired market narrative, not find the information to form a narrative. Think of them as intel analysts prior to the Iraq War - they pick and choose info to fit the desired outcome and then ignore or discredit that which does not.

    Volume tells the story - look at the last 6 months. You only see the level we saw Tuesday twice - at ERs. So where is the story behind the sudden spike? It did not drop after the announcement if a fund or funds had news prior to the actual PR, which seems very likely as they dumped.

    The earnings release date along with a downgrade and then the very late COO announcement were the only pieces of news on Tuesday.

    On a positive note, we have not seen insiders dumping - last Q we did see it in the mid-90s. If it does go to 75, I will add some more calls; otherwise I will prep some puts as the ER is about to come off as insurance. Also, Zappos continues to have UGGS as 50% of its best selling women's shoes and shoe products and has consistently had its products in the 50-70% range since Oct.

  • Reply to

    Two reasons not to fear-

    by benshometownflooring Jan 22, 2015 1:02 PM
    jimmach123 jimmach123 Jan 22, 2015 8:21 PM Flag

    There is a drastic difference between unfounded volatility and unscrupulous behavior. No way it is a coincidence that the stock tanks as they finally release a statement for the ER and announce a new COO way after hours without actually announcing the previous guy's retirement (they noted it in April with no date). Sorry, but anytime we have a midnight press release it is not for good news. One can easily assess that someone very likely leaked it early thus the high volume sell off - it more than doubled in volume and was down 5% before a downgrade even came into play. BTW, the ER date was not listed on their website; Nasdaq had it for February, Estimize for Mar, and only Yahoo Finance had the right date. I had to email IR to confirm prior to their PR. I foresee this not being the best of reports based on the shady pre-moves - this stinks of LULU's June report.

    Options expiration on this one has little to do with it unless you figure big boys sold 80s for this Friday. $7 or 20% in a week comes about when they have news or ERs, not when nothing comes out. Don't fool yourself into thinking "this just happens." Horse pucky. This also smells of their ER at this time last year when the stock shed $13 after the ER. TIme to buy puts for protection.

  • Reply to

    What happened in 2012?

    by sthec Jan 22, 2015 7:45 AM
    jimmach123 jimmach123 Jan 22, 2015 7:24 PM Flag

    I was teaching at a Big 10 school during that time and what I saw was a combination of three issues that led me to short the company through puts over that time.

    1. The unusually warm fall/winter of 2011-2012; when snow did come, it melted immediately or ended as rain and thus the temps kept UGGS from their main utility of warmth in dryer climates or frozen ice/snow.

    2. Sheepskin prices took off and the company lacked any hedging capabilities to counter this.

    3. Style change in women's fashion - riding boot took off and I literally went from seeing half the girls in class wear UGGS to 1-2 (180 student lecture hall with 65% girls) wearing them. But the riding boot and the hunter rain boots were all over the place due to #1.

    All these combined caught management with a multitude of issues - shrinking margins from costs as well as the ballooned inventory that then had to be sold by retailers at a discount; additionally, orders for the next year depend on the previous year and thus UGGS saw cuts on the 2012-2013 orders. All of this led to a collapse from near the 120s to the low 30s in the fall of 2013.

    What I see now worries me a bit, but not too much. I think they will come in with earnings near 4.75-5.00/share, but guidance is the thing - bottom line is they suck at giving guidance and sandbag it every Q. I am concerned that we had a $7+ drop with news that appeared to come out after hours which makes me wonder who was alerted to the changes ahead of time. COO retirement was announced in April with no date, and the change here with no real announcement until after the fact is a bit worriesome as well.

    Lastly, my final concern is today's trading - down on a massive up DOW day...not uncommon with deck, but somewhat disconcerting. So, with calls sold for 30 Jan last week on my shares, some calls bought for Mar, I am likely going to further hedge with either long-term calls next week or some puts just before earnings in case we do see a collapse.

  • jimmach123 jimmach123 Jan 21, 2015 6:19 AM Flag

    More will be coming with the ER next week. However, a few Qs on this:
    1. We knew the COO was retiring per April's announcement - why is the general counsel, a lawyer, being made the COO? Is this good?
    2. Why are they announcing an ER only 9 days ahead of the event? This is normally something companies forecast months out and announce 20-45 days prior.

    Just because they have yet to guide down does not mean the ER will not smell like old fish on a summer day - look at last Q and last Feb - same story. I have a feeling it will be a great Q with not so great guidance.

    I think you have a selloff with the official ER announcement - only Yahoo Finance actually had it correct - Nasdaq had Feb, stocktwits in Mar. Their own website did not have it until now. People are scared as this is the first ER in Jan as they normally do a Feb call and they likely will be cautious.

    I am regretting not having sold when this finally rebounded to 99 after the last ER and not continuing to sell covered calls; have little faith left in this management as they are beginning to act like it is the 2011-2012 again when they sunk to 36 with ridiculous shenanigans.

  • jimmach123 jimmach123 Jan 20, 2015 6:25 PM Flag

    Just to clarify...the ride down in early Nov came AFTER the last ER. Action today is alarming, as is the PR drop 9 days before ER - most companies are proud to announce it a month or so out; this is also the first year they are moving to a JAN ER as it has been Feb in prior years to better assess the late winter/spring Q. Technically this has further to drop - no candlestick, high volume...will add at 77 or lower (and if it never gets there I will not add...not that complicated).

  • Reply to

    Weighing action and ER potential

    by jimmach123 Jan 15, 2015 8:59 PM
    jimmach123 jimmach123 Jan 16, 2015 7:10 PM Flag

    Probably a smart move - Sold the 98s for .75, so no complaints on my end. Also bought some Mar 20 95s for 2.60 when the stock was about neutral. Expect this to now rebound a bit...not likely back to 95, but will probably hang out in the 87-92 range for the next couple weeks.

  • Colton at Investor Relations shot me a note back confirming Yahoo Finance is correct. I thought I remembered DECK changing things last year as they used to do a late Feb and then late Apr report to better forecast the last of winter and spring.

DECK
73.87-0.47(-0.63%)May 22 4:01 PMEDT