Deckers published its 10-Q for the quarter and nine months ending December 31 a couple of days ago. In the environment we’re in, where general expectations seem low, being a company with a solid balance sheet (though inventory was up 26% over a year ago) that’s nicely profitable and more or less holding its level of profitability is a pretty good thing.
Deckers owns the UGG, Teva and Sanuk brands, though their results are dominated by UGG. For the quarter, revenues were up 1.4% to $796 million. The gross margin took a hit, falling from 52.9% to 49.1%. 1.1% of the decline was the result of issues around foreign currency. The rest, which was $21 million, “…was driven by increased promotional activity…”