Key Developments: Deckers Outdoor Corp (DECK.O)
54.48USD
21 May 2013
$1.73 (+3.28%)
$52.49
$52.70
$54.72
$52.60
798,516
1,374,190
$60.25
$28.53
Latest Key Developments (Source: Significant Developments)
Deckers Outdoor Corp Reaffirms FY 2013 Guidance; Issues Q2 2013 Guidance Below Analysts' Estimates-Conference Call
Deckers Outdoor Corp announced that based on first quarter results and current visibility the Company still expect fiscal 2013 revenues to increase approximately 7% over fiscal 2012 levels and still expect diluted earnings per share (EPS) to increase approximately 5% over fiscal 2012. For the second quarter of 2013 the Company expect revenues to be approximately flat with second quarter 2012 levels and expect a diluted loss per share of approximately $1.10. The Company reported revenue of $1.41 billion and EPS of $3.45 in fiscal 2012; and revenue of $174.44 million in the second quarter of 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.51 billion and EPS of $3.68 for fiscal 2013; and revenue of $184.86 million and EPS of ($0.95) for the second quarter of 2013. Full Article
Deckers Outdoor Corp Issues Q1 2013 Guidance Below Analysts' Estimates, Issues FY 2013 Guidance In Line With Analyst' Estimates
Deckers Outdoor Corp announced that for fiscal 2013, it expects revenues to increase approximately 7% over fiscal 2012 levels, diluted earnings per share to increase approximately 5% over fiscal 2012 levels. For first quarter of 2013, it expects revenues to remain flat as compared to first quarter of 2012 levels and diluted loss per share of approximately $(0.12). The Company reported revenue of $1.414 billion and EPS of $3.45 in fiscal 2012 and revenue of $246 million in first quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.505 billion and EPS of $3.69 for fiscal 2013; revenue of $254 million and EPS of $0.03 for first quarter of 2013. Full Article
Deckers Outdoor Corp Lowers FY, Q4 2012 Guidance
Deckers Outdoor Corp announced that based on third quarter results combined with reduced sales projections, the Company is revising its fiscal 2012 outlook. The Company now expects fiscal 2012 sales to increase approximately 5% over 2011 levels, compared to previous guidance of approximately 14%. The Company also expects fiscal 2012 diluted earnings per share to decrease approximately 33% from fiscal 2011 levels, compared to previous guidance for diluted earnings per share to decrease approximately 9% to 10%. For the fourth quarter of 2012, the Company expects revenue to increase approximately 6% over 2011 levels, compared to its previous guidance of approximately 19% and expects fourth quarter 2012 diluted earnings per share (EPS) to decrease approximately 14% from 2011 levels, compared to its previous guidance for an increase of approximately 22%. The Company reported revenue of $603.85 million and EPS of $3.38 in the fourth quarter of 2011; revenues of $1.377 billion and EPS of $5.07 in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.514 billion and EPS of $3.99 for fiscal 2012; and revenue of $680 million and EPS of $3.38 for the fourth quarter of 2012. Full Article
Faruqi & Faruqi, LLP Files Amended Class Action Complaint Against Deckers Outdoor Corp
Faruqi & Faruqi, LLP announced that it has filed an amended class action complaint in the United States District Court for the District of Delaware, Case No. 1:12-cv-01001-SLR, on behalf of an expanded class of investors that now includes all persons who transacted in Deckers Outdoor Corp securities between October 27, 2011 and April 26, 2012 inclusive (the Class Period) and suffered damages as a result. Deckers, its Chief Executive Officer Angel Martinez, and its Chief Financial Officer Thomas A. George, are charged with violations of Section 10(b) and/or 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that defendants knew or recklessly failed to inform investors that (1) the Company had not taken adequate steps to offset the increased price in sheepskin costs; (2) the Company inventory for its UGG brand was at a maximum, which caused the Company to attempt to sell the products at reduced costs; (3) the unseasonably warm winter weather was impacting the Company's sales, and in particular, the Company's main product, the UGG brand; and (4) as a result of the foregoing, Defendants' statements regarding the Company's operations and earnings were false and misleading and lacked a reasonable basis when made. Full Article
Deckers Outdoor Corp Reiterates FY 2012 Guidance; Issues Q3, Q4 2012 Guidance
Deckers Outdoor Corp reiterated fiscal 2012 and expects revenues to increase approximately 14% over fiscal 2011 levels and diluted earnings per share (EPS) to decrease between 9% and 10%. Fiscal 2012 guidance includes $17 million, or $0.30 per diluted share associated with amortization and accretion expenses related to the Sanuk brand acquisition, up from previous guidance of $13 million, or $0.23 per diluted share. The Company expects third quarter 2012 revenue to increase approximately 1% and diluted EPS to decrease approximately 31% from fiscal 2011 levels. The Company expects fourth quarter 2012 revenue to increase approximately 19% and diluted EPS to increase approximately 22% over fiscal 2011 levels. Full Article
Levi & Korsinsky Announces Class Action Lawsuit Of Deckers Outdoor Corp
Deckers Outdoor Corp announced that Levi & Korsinsky has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of investors who purchased the Company stock between October 27, 2011 and April 26, 2012. Full Article
Morgan & Morgan Announces That Class Action Lawsuit Was Filed On Behalf Of Investors Against Deckers Outdoor Corporation
Morgan & Morgan announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Deckers Outdoor Corporation between October 27, 2011 and April 26, 2012, inclusive (the Class Period). If you purchased shares of Deckers during the Class Period, you may request that the Court appoint you as lead plaintiff by July 31, 2012. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Deckers Outdoor Corporation
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Deckers Outdoor Corporation. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company was unable to mitigate the effects of dramatically increasing prices for sheepskin; (2) the Company was experiencing a substantial reduction in demand due to the unusually warm weather; (3) Deckers' aggressive expansion resulted in the over-supply of the Company's UGG brand; (4) the Company's inventory levels for its UGG brand were increasing rapidly, causing increased mark-downs and close-outs, adversely affecting revenues; and (5) as a result of the foregoing, the Company's gross margin was negatively impacted. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Deckers Outdoor Corporation
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Deckers Outdoor Corporation between October 27, 2011 and April 26, 2012, inclusive (the Class Period). The Complaint alleges that Deckers and certain of its officers and directors violated the federal securities laws. Specifically, defendants concealed the following facts: (i) Deckers was not able to mitigate the effects of dramatically increasing prices for sheepskin; (ii) there was a decline in demand to a much larger extent than represented due to the unusually warm weather; (iii) the Company's extensive expansion resulted in the over-supply of UGG products, which meant that the price increases for those products were ineffective; (iv) Decker's inventory levels for its UGG brand were increasing rapidly, which led to the increased use of mark-downs and close-outs; and (v) as a result, Decker's gross margin was negatively impacted. On April 26, 2012, Deckers announced that it had missed its second quarter 2012 earnings and lowered its full-year 2012 guidance, projecting a decrease in 2012 diluted EPS of 9%-10%, compared to previous guidance for diluted EPS to be flat year-over-year. On this news, Decker stock fell $17.63 to close at $51.83 per share on April 27, 2012. Full Article
Briscoe Law Firm And Powers Taylor, LLP Announce Investigation Of Deckers Outdoor Corporation
Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announced that the firms are investigating legal claims against the officers and Board of Deckers Outdoor Corporation (Company) related to potential securities violations by the Company between October 27, 2011 and April 26, 2012 (the Class Period). The Company and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants` misrepresented and/or failed to disclose that: the Company was not able to mitigate the effects of increasing prices for sheepskin; the Company was seeing a decline in demand to a much larger extent than represented due to the unusually warm weather; the Company`s expansion resulted in the over-supply of UGG products, especially its classic products, meeting and/or exceeding demand, which meant that the Company`s price increases for those products were ineffective; the Company`s inventory levels for its UGG brand were increasing rapidly, which led to the increased use of mark-downs and close-outs as the Company experienced declining same store sales and its new retail stores also suffered; and as a result of the foregoing, the Company`s gross margin was negatively impacted. Full Article
BRIEF-Deckers Outdoor shares up 11.1 percent premarket
NEW YORK, Dec 3 - Deckers Outdoor Corp : * Shares up 11.1 percent premarket
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