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February 28, 2014
10:32 EDTDECK, WWW, SHOODeckers Outdoor tumbles after guidance miss
Shares of footwear maker Deckers Outdoor (DECK) are plunging after the company last night reported stronger than expected fourth quarter results, but provided much lower than expected guidance. WHAT'S NEW: Deckers, which makes the popular "UGG" brand of boots, reported Q4 EPS of $4.04, compared with analysts' consensus estimate of $3.80. Decker's revenue also came in above expectations. However, the footwear maker predicted that it would report a Q1 loss of 16c per share, versus the consensus outlook of a 10c per share profit. The company added that its profit would drop in the first half of fiscal 2014, compared with the same period a year earlier. Deckers indicated that the decline would be caused by costs associated with its opening of 28 new stores in the second half of 2013. ANALYST REACTION: Two research firms had very different reactions to Deckers' results. In a note to investors earlier today, Jefferies analyst Randal Konik downgraded the stock to Hold from Buy. Deckers' "overly aggressive" spending plan for 2014, along with its guidance, caused Konik to recant his previous belief that the company's 2014 earnings would beat expectations. Costs associated with the company's new stores, in tandem with other expenses, will prevent the company from increasing its gross margins this year as the analyst had previously anticipated, he wrote. Taking a much more optimistic view was PiperJaffray analyst Erinn Murphy, who urged investors to buy the stock on today's weakness. Deckers' guidance incorporates a large amount of conservatism, wrote the analyst. She expects the company's same-store sales to remain positive, and notes that the company plans to roll out more than 25 new stores this year, while its year-end backlog was up 25% versus he end of 2012. She thinks the company can report stronger than expected results going forward, and keeps a $96 price target and Outperform rating on the shares. PRICE ACTION: In mid-morning trading, Deckers plunged $13.67, or 16.15%, to $71.01. OTHERS TO WATCH: Other makers and retailers of boots and other footwear include Steven Madden (SHOO) and Wolverine World Wide (WWW).
News For DECK;SHOO;WWW From The Last 14 Days
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July 30, 2015
16:36 EDTDECKDeckers Outdoor sees Q2 EPS $1.05, consensus $1.22
The Company expects second quarter fiscal 2016 constant currency revenues to be up approximately 5.0% over the same period last year and up approximately 1.0% on a reported basis. Consensus is $507.63M.
16:34 EDTDECKDeckers Outdoor sees FY16 EPS $5.15, consensus $5.08
Sees FY16 revenue $1.96B, consensus $1.96B.
16:32 EDTDECKDeckers Outdoor reports Q1 EPS ($1.43), consensus ($1.49)
Reports Q1 revenue $221M on a constant currency basis, consensus $213.5M.
08:09 EDTDECKDeckers Outdoor July weekly volatility increases into Q1 and outlook
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07:11 EDTSHOOSteven Madden sees FY15 EPS $1.85-$1.95, consensus $1.93
For fiscal year 2015, the company continues to expect that net sales will increase 7% to 9% over net sales in 2014.
07:11 EDTSHOOSteven Madden reports Q2 EPS 40c, consensus 39c
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July 21, 2015
09:21 EDTWWWOn The Fly: Pre-market Movers
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06:38 EDTWWWWolverine World Wide sees FY15 adjusted EPS $1.53-$1.60, consensus $1.55
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06:37 EDTWWWWolverine World Wide reports Q2 adjusted EPS 27c, consensus 20c
Reports Q2 revenue $630.1M, consensus $618.76M. Adjusting for the impact of foreign exchange, retail store closures and termination of the Patagonia license agreement, adjusted revenue grew 6.9% versus the prior year.
July 20, 2015
15:01 EDTWWWNotable companies reporting before tomorrow's open
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