Comprehensive net loss narrowed to $44,343,000 from a loss of $52,310,000 in DECK’s first and least seasonally significant fiscal quarter on a 20% sales gain to $209,717,000 from $174,393,000 benefitting from some wholesale sales pulled forward from Q2. Gross margin contracted 50% to 43.2% on negative foreign exchange effects despite a move towards higher ASPs in product mix. SG&A spending was reduced by $7.9 million to $146.9 million, down 18.6% as a percent of revenue, as part of DECK’s ongoing $100 million profit improvement plan.

The Q1 results won’t do much to calm the activist sharks who regard Deckers as a ... Log in to view full article.