Deckers Outdoor Corporation (DECK) Q4 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 19, 2022 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, and thank you for standing by. Welcome to the Deckers Brands' Fourth Quarter Fiscal 2022 Earnings Conference Call. [Operator Instructions]

I would like to remind everyone that this conference call is being recorded. I'll now turn the call over to Erinn Kohler, VP investor Relations and Corporate Planning. Please go ahead.

Erinn Kohler

Hello, and thank you, everyone, for joining us today. On the call is Dave Powers, President and Chief Executive Officer; and Steve Fasching, Chief Financial Officer.

Before we begin, I would like to remind everyone of the company's safe harbor policy. Please note that certain statements made on this call are forward-looking statements within the meaning of the federal securities laws, which are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995.

All statements made on this call today other than statements of historical facts are forward-looking statements, and include statements regarding changes in consumer behavior, strength of our brands and demand for our products; changes to our product allocation, segmentation and distribution strategies; changes to our marketing plans and strategies; changes to our capital allocation strategy; the impact of the COVID-19 pandemic on our business and supply chain; our anticipated revenues, brand performance, product mix, gross margins, expenses, inventory and liquidity position and our potential repurchase of shares. Forward-looking statements made on this call represent management's current expectations and are based on information available at the time such statements are made. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from any results predicted, assumed or implied by the forward-looking statements. The company has explained some of these risks and uncertainties in its SEC filings, including in the Risk Factors section of its annual report on Form 10-K and quarterly reports on Form 10-Q. Except as required by law or the listing rules of the New York Stock Exchange, the company expressly disclaims any intent or obligation to update any forward-looking statements.

With that, I'll now turn it over to Dave.

Dave Powers

Thanks, Erinn. Good afternoon, everyone, and thank you for joining us today.

I'm excited to share our record-breaking fiscal year 2022 results, which include a number of significant achievements. The first time Deckers delivered over $3 billion in annual revenue, and we did so just three years after reaching $2 billion. In total, we delivered fiscal 2022 revenue of $3.15 billion, an increase of 24% over the prior year and nearly 50% above two years ago.