Shares of Deckers – maker of the ubiquitous UGG boots – are plummeting after the company reported disappointing earnings.EPS dived to $0.20 from $0.49 last year. Analysts were expecting $0.25.
“Our first quarter performance was mixed versus our expectations,” said CEO Angel Martinez. “Sales growth was driven by the addition of the Sanuk brand combined with increased demand for the UGG brand spring line, partially offset by softness in boots due to the unusually warm weather.”
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