DECK: Deckers Outdoors Stock Surges After Beating Street

by Christopher Freeburn | April 25, 2014 11:27 am

On Thursday, Deckers Outdoor (DECK[1]) reported a lower-than-expected quarterly loss[2]. DECK shares rose almost 7% in Friday morning trading.

deckers outdoor DECK[3]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.

More Stocks on the Move:

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