by Christopher Freeburn | April 25, 2014 11:27 am
On Thursday, Deckers Outdoor (DECK) reported a lower-than-expected quarterly loss. DECK shares rose almost 7% in Friday morning trading.
Earlier this year, Deckers Outdoor altered its fiscal year from December 31 to March 31. Thus, the three month period that ended on Mar. 31, 2014 is considered a transition period. DECK shares gained after the apparel and shoe-maker said it recorded a loss of $2.69 million during the three months ending in March. In the prior year, it posted a profit of $1 million during the same period. EPS showed a loss of 8 cents per DECK share, better than the loss of 15 cents that Wall Street had forecast, RTT News notes.
DECK said it generated sales of $294.72 million during the period, up 12% from last year. That also topped analysts’ sales estimates of $281.77 million. Sales in the U.S. increased by 9%, while overseas sales jumped 19%.
On Thursday, DECK stock closed at $78.53 per share.
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