BUZZ-Deckers Outdoor slips after annual sales forecast disappoints

Shares of Hoka-owner Deckers Outdoor DECK.N fall 15.9% to $187.50 premarket

Co's annual sales forecast raise falls short of Wall Street's lofty expectations, following a strong holiday quarter

DECK now expects annual net sales to increase about 15% to $4.9 bln, compared with its prior expectation of about 12% growth to $4.8 bln, vs analysts' estimates of a 14.9% increase to $4.93 bln, according to data compiled by LSEG

Co reports Q3 rev. of $1.83 bln, which is a 17% rise from a year earlier, vs estimates of $1.73 bln - LSEG

Q3 sales for UGG, a popular brand known for its sheepskin boots, grew 16%

However, lower available inventory for the UGG brand in the Q4 could limit sales, company executives warned on a post-earnings call

Fourteen of 24 brokerages rate stock "buy" or higher, nine "hold" and one "sell"; their median PT is $225 - LSEG

DECK stocks gained 82.3% in 2024