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Part One The ChallengesFor those of you who don't know cheap black uggs for sale
the Deckers story, I encourage you to read any of my Deckers articles. Even if you don't know the name Deckers, you probably know, or have at least seen, someone wearing the company's trademark UGG boots. Deckers enjoyed a bit of success coming out of the recession, and shares rallied from about $12 (split adjusted) at their 2009 low to over $115 during the second half of 2011. I started following Deckers in December 2011, when the stock traded above $90, when I called the name a short candidate. Many of the problems I've discussed have continued throughout 2012, and shares have declined to a recent low after earnings of about $28.50. A small rally has put us back up over $33, but this company cheap uggs for sale in canada is still facing some tough challenges. Let's start discussing them.
Deckers' UGG boots are primarily fashionable in the winter and cooler temperatures, so 2011 2012's warmer than average winter did not help. Deckers sales were definitely impacted by the warmer weather, and that was uggs boots on sale at dillards
key in the 2012 forecast. When Deckers reported 2011 results, it guided to 2012 revenue growth of 15%, which was well below the 19.8% growth analysts were expecting. Additionally, the company stated high sheepskin costs would cause earnings to be flat, whereas analysts black friday uggs sale at bloomingdales
were looking for 14% earnings growth.
Deckers has since lowered its forecast a couple of times, womens uggs classic cardy sale and the latest forecast is for just 5% sales growth and a 33% drop in earnings per share this year. Earnings per share will probably return to levels comparable with 2009, when you factor in the company's stock buyback.
Weather is obviously a key, and that fact is summed up by the following quote from CEO Angel Martinez in the company's third quarter conference call:
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