Deckers Outdoors To Cut Employees, Stores Amid Weak Q3 Sales

Shares of Deckers Outdoors fell after hours after the company reported weak third-quarter results, noting that sales fell 9.9% in the U.S. Deckers Outdoor s reported a 9.9% sales decline in the U.S. for its 2017 third quarter, featuring a 5.3% drop in the sale of UGG boots and shoes. Shares fell 22.8% in after-hours trading.

UGG Holiday Sales Pump Deckers Outdoor

Deckers Outdoor is a buy thanks to strong holiday sales from its UGG brand, analysts at Canaccord Genuity wrote today, while maintaining the stock’s “buy” rating and $70 price target. The firm’s checks showed that cold winter weather in late November through December drove a sharp increase in weekly sell-through rates, likely in the 25% range.