Deckers Outdoor Corporation (DECK) stock soared 1.17% in the after-hours trading session at the price of $384.80 after announcing its financial results for the second quarter of fiscal 2022. DECK is a leading corporation that designs, markets, and distributes innovative apparel, footwear, and accessories for everyday use.
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DECK Second Quarter Fiscal 2022 Earnings Report
On 28th October 2021, DECK published its financial results for the second fiscal quarter ended 30th September 2021. It has also presented updates on the financial outlook for fiscal year 2022.
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DECK Stock Management Comments
Chief Executive Officer of DECK, Dave Powers, remarked that the company’s first-half robust growth indicates the rising global footprint of UGG and the HOKA brand’s evolution. Although they encountered supply chain challenges during the period, they are pursuing market share with in-demand brands. Their agile operations will drive this dynamic situation by enabling their brands to execute long-term strategies, he added.
DECK Stock Financial Highlights
DECK reported net sales of $721.9 million for the second fiscal quarter ended 30th September 2021. A gain of 15.8% from $623.5 million for the same quarter of the previous year. Net sales grew 14.8% during the second quarter of fiscal 2022. The gross margin was 50.9% for the second quarter of fiscal 2022, compared to 51.2% in the second quarter of fiscal 2021. For the second fiscal quarter ended 30th September 2021, operating income was approximately $128.2 million. Operating income was $128.6 million for the second fiscal quarter ended on 30th September 2020.
For the second quarter of fiscal 2022, domestic net sales grew 20.4% to $514.6 million. Domestic net sales were $427.4 million for the second quarter of fiscal 2021. International net sales improved 5.7% from $196.1 million to $207.3 million for the second quarter ended 30th September 2021. As of 30th September 2021, cash and cash equivalents were approximately $746.2 million. DECK reported cash and cash equivalents of $626.4 million as of 30th September 2020. There were no outstanding borrowings on 30th September 2021, compared to $39.9 million on 30th September 2020.
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Earnings per share (diluted) were $3.66 for the second fiscal quarter ended 30th September 2021. Diluted earnings per share were $3.58 for the same quarter of fiscal 2021. DECK reported wholesale net sales of $545.2 million for the second fiscal quarter ended 30th September 2021. It represents an increase of 20.7% from $451.6 million for the same quarter prior year.
