We recently published Jim Cramer’s 12 Fresh Stocks & Quantum Computing Trading Strategy. Deckers Outdoor Corporation is one of the stocks Jim Cramer recently discussed.
Deckers Outdoor Corporation reported its fiscal second-quarter earnings last week. The results disappointed investors as the firm guided $5.35 billion in annual sales while analysts had estimated $5.45 billion. Cramer discussed the earnings report and Deckers Outdoor Corporation’s brands:
“Today’s it’s Deckers. A kind of lukewarm guide and that is enough. I thought this had been punished over and over and over and it would bottom. But no. You got UGG’s not doing that well, you’ve got HOKA’s not doing that well, you have the projections not that great. Enterprise level declines, I mean this is a Truist note that just says elevated competition, broader macro uncertainty. Now the question is, is Nike coming in against HOKA? Well I would say that there is a big scrum right now in sneakers. New Balance has come back. It’s lost its allure. Now, it’s fashion. It’s got a feel kind of like LULU, but LULU’s expensive, and this company’s just alright. I don’t know if I want to sell this ahead of, let’s say you get a really cold winter and UGG’s maybe you get a snap back. But people just hate it, I think it’s overly hated.”
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This article is originally published at Insider Monkey.
