Deckers (DECK) Final UGG Sales Less Worse than Anticipated - Sterne Agee

Sterne Agee's Sam Poser reiterated his Buy rating and $65 price target on Deckers Outdoor (NASDAQ: DECK) mid-day, saying final sales results for UGG less worse than anticipated at most retailers and to buy the stock on weakness.

Poser comments, "Buy DECK on weakness. Our channel checks highlight that UGG sales got materially less worse over the last two weeks of December. The combination of the additional weekend before Christmas, colder weather post Christmas, led to the improving performance. UGG inventory levels at retail are well below last year, which, due to improving product offerings, should lead to increased fall '13 orders, even if sales are planned down."

On deck for DECK is that management will be presenting at the ICR Xchange conference in mid January. "It will be extremely important for management to let everyone know that they are working to reduce inventory levels to sub $240M by the end of 2Q13," the analyst notes.



For an analyst ratings summary and ratings history on Deckers Outdoor click here. For more ratings news on Deckers Outdoor click here.

Shares of Deckers Outdoor closed at $40.26 yesterday.

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