Deckers Outdoors updates annual sales forecast due to strong demand for Hoka shoes

((Automatic translation by Reuters, see disclaimer https://bit.ly/rtrsauto))

(Added brand sales details to paragraph 4, updated activities)

Deckers Outdoor Company

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beat Wall Street estimates for its second-quarter results and raised its annual sales forecast on Thursday, thanks to strong demand for its UGG boot and Hoka running brands.

The company’s shares jumped nearly 12% in after-hours trading, adding to the roughly 35% rise it has seen since the start of the year.

The shoe manufacturer has been the main beneficiary of conscious customers around the world spending more money on fashionable and modern shoes, including those from New Balance and On.

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supported by Roger Federer.

Deckers reported a nearly 35% jump in Hoka sales in the second quarter, while the UGG brand saw a 13% increase.

The wholesale channel for Hoka and UGG remained strong as retailers included Dick’s Sporting Goods

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and Nordstrom

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open up more space on the shelves. Amazon also offers more products on their website.

Deckers now expects its annual sales to rise 12% to $4.8 billion, compared to a 10% increase to $4.7 billion previously expected.

For the quarter ended Sept. 30, Deckers’ net sales rose 20% to $1.31 billion, compared with analysts’ average estimate of $1.20 billion, according to data compiled by LSEG.

The Goleta, Calif.-based company also reported adjusted earnings of $1.59 per share for the quarter, compared to the Street consensus of $1.23 per share.