Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
First quarter sales rose across the board, led by the manufacturer’s Teva and Ugg shoe brands.
Deckers Outdoor Corp., a manufacturer and retailer of Ugg, Teva and other footwear brands, recorded strong sales in the first quarter, but its net loss widened.
For the first quarter of fiscal 2015 ended June 30, Deckers, No. 160 in the Internet Retailer 2014 Top 500, reported:
- Global e-commerce sales of $15.4 million, an increase of about 43.9% from $10.7 million in the first quarter of 2014. Deckers attributed the web sales rise mainly to strong domestic and international sales for the Ugg, Teva and Sanuk brands, plus the domestic launch of the Hoka One One brand running shoe web site and the addition of new international e-commerce web sites.
- Total sales of $211.5 million, up by 24.3% from $170.1 million.
- Retail sales increased 29.2% to $42.0 million from $32.5 million.
- Comparable-store sales, which include worldwide retail same-store sales and worldwide comparable e-commerce sales, increased 10.0% over the same period last year.
- Domestic sales increased 20.1% to $132.3 million from $110.1 million.
- International sales of $79.2 million, up by 32.0% from $60.0 million.
- Ugg brand shoe sales of $123.3 million, up by 22.8% from $100.4 million.
- Teva brand shoe sales of $39.3 million, up by 25.9% from $31.2 million.
- Sanuk brand surfer sandal sales increased 19.6% to $36.0 million from $30.1 million.
- Gross margin was 41.0% compared to 41.1% for the same period last year.
- Net lossof $37.1 million, compared with net loss of $29.3 million in the first quarter of 2014.
E-commerce represented 7.3% of total sales for the footwear maker in the third quarter, compared with 6.3% in the comparable period in 2014.
“Sales trends were once again strongest in our direct-to-consumer division and we believe that our omnichannel initiatives aimed at elevating the consumer experience, strengthening customer connections and improving service levels continue to yield positive results,” says Angel Martinez, president, CEO and chairman.