Deckers Outdoor (NYSE: DECK) reported its first-quarter earnings on Thursday. Shares of the company are up more than six percent.
Below are some key takeaways from its conference call:
• While we're pleased to have achieved the 24 percent revenue growth for the first quarter.
• We're better connecting our consumers with our brands and driving sales, fueling a solid start to the new fiscal year.
• This year we brought to market the most complete spring collections ever across our brand portfolio and the customer response has been very positive.
• At the start of the quarter, specialty classics, slippers and fashion boots continued to sell well following a very good winter.
• As temperatures turned more seasonable later in the quarter, sell-through of fashion and casual sandals and casual shoes picked up, and this momentum carried through July.
• This month we supported the launch of I Heart UGG through coordinated print, digital and in-store activations.
• With respect to our store expansion plans, we are still targeting between 30 and 35 new stores for this fiscal year.
• Elsewhere in Europe we experienced solid sell-through of spring styles from the UGG and Teva brands.
• We expect fiscal year 2015 SG&A expenses as a percentage of sales to be approximately 36 percent.
• Our fiscal year 2015 guidance assumes that the company's effective tax rate will be approximately 29 percent.
• For the second quarter of fiscal 2015 or three months ending September 30, 2014, we currently expect revenues to increase approximately 18 percent and diluted earnings per share of approximately $0.98 per share.
• The third quarter ending December 31, our old fourth quarter, will generate a lower percentage of our total annual sales
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