Consumer Discretionary
Footwear & Accessories
$30.61B
4.8K
Key insights and themes extracted from this filing
The company reported a net sales increase of 20.9% to $2,136.667 million for the six months ended September 30, 2024, compared to $1,767.698 million in the prior period. This growth was fueled by a 20.5% increase in wholesale channel net sales and a 21.7% increase in DTC channel net sales.
Gross margin increased to 56.3% from 52.6% in the prior period. This improvement was primarily attributed to a favorable brand and product mix for the HOKA brand, along with higher margin product driving a higher proportion of growth for both the HOKA and UGG brands.
Net income for the six months ended September 30, 2024, increased by 47.9% to $357.946 million, compared to $242.099 million in the prior period. This increase was driven by higher net sales and operating margins, as well as higher interest income.