Advertisement
Canada markets open in 9 hours 6 minutes
  • S&P/TSX

    21,639.10
    -59.00 (-0.27%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • CAD/USD

    0.7277
    -0.0007 (-0.09%)
     
  • CRUDE OIL

    78.15
    -0.30 (-0.38%)
     
  • Bitcoin CAD

    91,061.87
    +286.44 (+0.32%)
     
  • CMC Crypto 200

    1,403.43
    -14.44 (-1.02%)
     
  • GOLD FUTURES

    2,339.00
    -10.10 (-0.43%)
     
  • RUSSELL 2000

    2,006.16
    -32.75 (-1.61%)
     
  • 10-Yr Bond

    4.2130
    -0.0250 (-0.59%)
     
  • NASDAQ futures

    19,700.00
    +14.50 (+0.07%)
     
  • VOLATILITY

    12.66
    +0.72 (+6.03%)
     
  • FTSE

    8,146.86
    -16.81 (-0.21%)
     
  • NIKKEI 225

    37,990.32
    -824.24 (-2.12%)
     
  • CAD/EUR

    0.6795
    -0.0003 (-0.04%)
     

Deckers stock pops as Hoka sales push revenue higher

Shares of Deckers Outdoor (DECK) are surging, trading above $1,000 after the company projected 10% revenue growth for the year ahead. The success of the stock, which is up over 50% year to date, is driven by the popularity of its Uggs and Hoka brands. These comprise the largest component of the company's business by revenue.

Yahoo Finance anchors Julie Hyman and Jared Blikre discuss Deckers Outdoor's revenue and analyst commentary on the company.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This article was written by Gabriel Roy

Video Transcript

The shares of Checkers are surging today, trading above $1000.

ADVERTISEMENT

Forget about NVIDIA.

This above $1000.

It's touching record highs, and it comes after the company projected 10% revenue growth for the year ahead.

The stock, by the way, is up more than 50% year to date, and you can see with that bump up again today.

This all has to do with the popularity of a couple of it sh brands in particular, which saw a big increase quarter in the numbers 15% increase in those net sales.

And then the other hot brand has been HOA, which is now the biggest part of its business by revenue that saw a 34% increase.

I do have some quotes here, some analyst quotes.

We have Raymond James rating the stock and outperform.

Deckers had a master class in beating expectations at Reed Strong, another beat across EPS revenue growth margin, and EBI, we viewed the fourth quarter, uh, guidance, uh, guide as conservative, but are surprised that the magnitude of the upside, especially for Ugg, which had lean inventories, raised the price tag target to 1100 from 925 and, uh, Cowan saying expectations were just crushed.

So just kind of a blow out.

I'll chart this real quick on the Wi Fi Interactive, and as you said up over 50% on the year and just to give you a five year look throughout the pandemic, that's an impressive chart.

A lot of, uh, pandemic darlings kind of went like this, and they just didn't come back.

Yeah, and we're seeing some of the other, uh, retail stocks also get a pop today.

Crocs, we noticed, was higher.

Ross, which also by the reported this week, was also a trading higher.

My big question about HOA's and that whole trend that we've seen is a lot of other shoe companies have copied the sort of maximalist shoe, the very big foam cushion.

So you wonder if HOA itself will be able to hang on to its market share.

We shall see