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Feb. 2, 2023: Deckers Brands (DECK)
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Earnings: Net income in the third quarter 2023 was $278.7 million, up from $232.9 million in the same time last year.
Sales: Net sales in the third quarter 2023 increased 13.3% to $1.346 billion compared to $1.188 billion the same time last year.
CEO Comments: “Our brands delivered another stellar quarter, led by record results for both Hoka as well as our consolidated direct-to-consumer business,” said Dave Powers, president and CEO. “The consistent strength of Deckers results thus far in fiscal year 2023, despite macroeconomic and currency headwinds, are the result of our brand marketplace management actions and dedication to long-term strategic priorities. We believe Ugg and Hoka are two of the healthiest, well positioned brands in their respective markets, and with the strength of our operating model, Deckers is poised for continued success going forward.”
Outlook: Net sales for the full fiscal year 2023 are now expected to be in the range of $3.50 billion to $3.53 billion.
Feb. 2, 2023: Skechers USA, Inc. (SKX)
Earnings: Net earnings in the fourth quarter were $75.5 million, compared to $402.4 million in the same period last year. Net earnings for the full year 2022 were $373.0 million, compared to $741.5 million in 2021.
Sales: Fourth quarter sales increased 13.5% to $1.88 billion. Full year sales increased 18.0% to $7.4 billion.
CEO Comments: “Starting our fourth decade of business as a $7.4 billion company that grew over $1 billion this past year is a phenomenal achievement and one that leaves me with overwhelming pride for the dedication, creativity and insight of the global Skechers team. With their flexibility and drive, along with the support of both our loyal partners and consumers, we expect to achieve continued success across all areas of the business,” said Robert Greenberg, CEO of Skechers.
Outlook: For the fiscal year 2023, the company believes it will achieve sales between $7.75 billion and $8.0 billion and diluted earnings per share of between $2.80 and $3.00.
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Feb. 2, 2023: Amazon.com, Inc. (AMZN)
Earnings: Net income decreased to $0.3 billion in the fourth quarter, compared with $14.3 billion, in fourth quarter 2021. For the full year 2022, net loss was $2.7 billion in 2022, compared with net income of $33.4 billion in 2021.
Sales: Net sales increased 9% to $149.2 billion in the fourth quarter, compared with $137.4 billion in fourth quarter 2021. For the full year 2022, net sales increased 9% to $514.0 billion in 2022, compared with $469.8 billion in 2021.
CEO Comments: “Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations—and we’re appreciative of all our customers who turned to Amazon this past holiday season,” said Andy Jassy, Amazon CEO. “We’re also encouraged by the continued progress we’re making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon.”
Outlook: For the first quarter of 2023, the company expects net sales between $121.0 billion and $126.0 billion, or to grow between 4% and 8% compared with first quarter 2022.
SOPA Images/LightRocket via Gett
Feb. 2, 2023: Columbia Sportswear Company (COLM)
Earnings: In the fourth quarter of 2022, net income decreased 20% to $125.7 million, compared to net income of $157.0 million the same time last year. For the full year 2022, net income decreased 12% to $311.4 million, compared to net income of $354.1 million in 2021.
Sales: In the fourth quarter of 2022, net sales increased 4% to a record $1,169.6 million, compared to fourth quarter 2021. For the full year 2022, net sales increased 11% to a record $3,464.2 million, compared to 2021.
CEO Comments: “I’m incredibly proud of the financial performance and accomplishments that our global workforce achieved in 2022,” chairman, president and CEO, Tim Boyle, said in a statement. “I’d like to thank our dedicated employees whose tremendous efforts fueled these results and position us for continued success. I believe this financial performance could have been even higher, absent supply chain constraints which severely delayed inventory availability throughout the year.”
Outlook: For the full year 2023, the company is expecting net sales of $3.57 billion to $3.67 billion representing net sales growth of 3% to 6% compared to 2022.
Courtesy of Canada Goose
Feb. 2, 2023: Canada Goose Holdings Inc. (GOOS)
Earnings: Net income in the third quarter of 2023 was CAD$134.9 million (USD$101.2 million based on current exchange rate), down 10.8% from CAD$151.3 million (USD$113.5 million) in the same period last year.
Sales: Revenues in the period were CAD$576.7 million (USD$432.7 million), down 1.6% from CAD$586.1 million (USD$439.7 million) the same time last year.
CEO Comments: “We were pleased with accelerating growth in Mainland China toward the end of the quarter and continue to see promising signs of a strong local rebound to date,” Dani Reiss, chairman and CEO, said in a statement. “However, for most of the third quarter which includes December, our busiest month of the year, our performance was impacted by worse than expected COVID-19 related disruptions in Mainland China. This, combined with recent slowing momentum in North America set against a tough macro-economic backdrop, has led us to revise annual guidance. We believe these challenges are temporary and our brand strength and strategy position us well to drive profitable growth – which we look forward to discussing at our upcoming Investor Day.”
Outlook: For fiscal 2023, the company has lowered its overall guidance ranges from the previous outlook. The company now expects total revenue for the full year of CAD$1.175 billion to CAD$1.195 billion compared to previous guidance of CAD$1.200 billion to CAD$1.300 billion.
Jan. 25, 2023: Boot Barn Holdings, Inc. (BOOT)
Earnings: Net income in the third quarter was $52.8 million, or $1.74 per diluted share, compared to $69.2 million, or $2.27 per diluted share in the prior-year period.
Sales: Net sales increased 5.9% over the prior-year period to $514.6 million.
CEO Comments: “Our growth opportunities remain as strong as ever, with very successful recent store openings combined with a robust new store pipeline,” Jim Conroy, president and CEO of Boot Barn, said in a statement. “We feel good about our level of store inventory with weeks of supply back to pre-pandemic levels and are pleased that our retail store same store sales remain positive on a year-to-date basis. As we head into fiscal 2024, we have multiple levers of earnings growth from same store sales, new store openings, and margin accretion from exclusive brands and lower freight charges.”
Outlook: The company now expects total sales for fiscal 2023 of $1.67 billion to $1.68 billion, representing growth of 12.2% to 12.9% over the prior year. This is up from the company’s previous guidance of total sales of $1.65 billion to $1.67 billion for the year.
Earnings from December 2022
Courtesy of Nike
Dec. 20, 2022: Nike, Inc. (NKE)
Earnings: Net income was $1.3 billion, flat compared to prior year, and diluted earnings per share was $0.85, increasing 2%.
Sales: Second quarter reported revenues were $13.3 billion, up 17% compared to the prior year.
CEO Comments: “Nike’s results this quarter are a testament to our deep connection with consumers,” said John Donahoe, president and CEO of Nike, Inc. “Our growth was broad-based and was driven by our expanding digital leadership and brand strength. These results give us confidence in delivering the year as our competitive advantages continue to fuel our momentum.”
Dec. 8, 2022: Lululemon Athletica Inc. (LULU)
Earnings: Net income in the third quarter was $255.5 million, up from $187.8 million in the same time last year.
Sales: Net revenue increased 28% to $1.9 billion.
CEO Comments: “In the third quarter, we continued to deliver strong and balanced results across the business, demonstrating the significant potential for our brand,” CEO Calvin McDonald said. “Our ongoing momentum is a testament to our innovative products, deep community relationships, and the hard work and dedication of our talented teams around the world. We are pleased with our early holiday season performance and look forward to all that’s ahead for lululemon as we continue to deliver on our Power of Three ×2 growth plan.”
Outlook: For 2022, the company expects net revenue to be in the range of $7.944 billion to $7.994 billion, representing a three-year compound annual growth rate of approximately 26%.
Courtesy of Academy Sports + Outdoors
Dec. 7, 2022: Academy Sports and Outdoors, Inc. (ASO)
Earnings: Net income in the third quarter of 2022 was $131.7 million, down from $161.3 million the same time last year.
Sales: Net sales were $1.49 billion, a decrease of 6.2%, compared to $1.59 billion the same time last year.
CEO Comments: “The third quarter was challenging for Academy; however, we delivered a good profit performance that, while below last year, was in line with our expectations. Our team continues to execute at a high level in an uncertain environment, delivering results well above pre-pandemic levels on all measures,” Ken Hicks, chairman, president and CEO, said. “Our focus is on our long-term growth opportunities in stores and online through consistent operational excellence, strong financial discipline, and executing our store and omnichannel expansion plans.”
Outlook: The company is lowering its guidance for the full fiscal year 2022. The company now expects net sales for the year between $6.43 billion and $6.49 billion, down from its previous guidance of $6.43 billion to $6.63 billion.