Reuters: Global Markets: Deckers sales miss as price hike bites

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Deckers sales miss as price hike bites Oct 25th 2012, 22:20 Thu Oct 25, 2012 4:57pm EDT (Reuters) - Deckers Outdoor Corp's (DECK.O) quarterly sales missed analyst estimates, hurt by a drop in its signature UGG brand's sales, sending the shoe maker's shares down 16 percent after the bell. Third-quarter profit was $43.1 million, or $1.18 per share, compared with $62.3 million, or $1.59 per share, a year ago. The company, which competes with Skechers USA Inc (SKX.N) and VF Corp's (VFC.N) Timberland, said net sales fell 9 percent to $376.4 million. Analysts on average had forecast a profit of $1.04 per share on revenue of $413.5 million, according to Thomson Reuters I/B/E/S. UGG brand net sales fell 12 percent to $332.8 million. Gross margin narrowed to 42.3 percent from 49 percent last year. Shares of the Goleta, California-based company $29.80 after the bell. They closed at $35.49 on Thursday on the Nasdaq. (Reporting by Chris Jonathan Peters in Bangalore; Editing by Anil D'Silva) Link this Share this Digg this Email Reprints

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