Outdoor Financials: Lacrosse 1Q sales jump 32% on work, military boots; Teva sales slip at Deckers
Lacrosse Footwear 1Q sales jump on military and work boots, and outdoor up as well despite weak winter. Meanwhile, Teva sales slip 1.1 percent for parent company Deckers Outdoor.
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Lacrosse Footwear Inc. (Nasdaq: BOOT) booted the notion that this couldn’t be a good winter for boots.
The Portland-based footwear company reported sales up 32 percent to $33.3 million for the first quarter 2012, largely due to an increase of its work and military boot sales, and its outdoor footwear managed a gain too despite the warm winter.
Lacrosse sales to the outdoor market rose 2 percent to $9.3 million for the first quarter, compared to a year ago. While officials said that the warm winter negatively impacted sales, the company saw a growing demand for its new hiking and lifestyle footwear.
Lacrosse’s work and military boots sales jumped 50 percent to $24 million, “reflecting fulfillment of a previously announced U.S. military order and growing demand from a variety of non-military government and other niche work markets” officials said.
The company swung to a quarterly profit of $600,000 versus a loss of $700,000 a year ago.
Teva sales slip at Deckers on international sales
Teva sales fell 1.1 percent to $49.8 million in the first quarter 2012 on weaker international sales.
The outdoor footwear brand’s results were part of parent company Deckers Outdoor (Nasdaq: DECK) reporting its most recent quarterly sales Thursday. Companywide, Deckers saw its revenue rise 20 percent, largely on its acquisition of the Sanuk brand last July. Minus Sanuk, sales rose about 4 percent for the quarter.
Deckers’ quarterly profit slipped to $8 million versus a profit of $19.8 million a year ago.
Looking ahead, the company pulled back its full year 2012 revenue growth projections slightly from a 15 percent to 14 percent increase. It also predicted that profit would drop about 9 to 10 percent from a year ago versus a previous expectation of unchanged profits from a year ago.
Expect better sales from Teva in the second quarter as its open-toed footwear products should benefit from the continued warm spring throughout much of the United States.