Deckers Outdoor fourth quarter earnings results positive
Deckers Outdoor, a Goleta-based manufacturer of outdoor footwear apparel and accessories, beat analyst earnings per share estimates when it released third quarter 2016 earnings Feb. 4.
Earnings per share increased to $4.78 from $4.50 last year. That beat analyst estimates of $4.75 per share, according to Yahoo Finance. Revenues also increased 3.6 percent during the quarter to $795.9 million from $784.7 million
Deckers CEO Angel Martinez said in a news release that weak store foot traffic during the holiday shopping season and warmer than expected weather hurt the brand. Martinez said the company is currently undergoing a streamlining and reorganization that will save the company $35 million per year.
Deckers increased 2016 fiscal year guidance when it raised revenue projections by 2.4 percent to $1.8 billion. The company also expects full year earnings per share of $5.15.
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