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May 27

Ugg chico

About The UGG Brand Founded in 1978 in California, the UGG brand has built a reputation on luxury and comfort by using only the finest materials in the world, employing the highest standards of craftsmanship, and delivering new and innovative styles. The UGG brand is recognized as a premium lifestyle brand with more than $1 billion in annual sales, offering men’s, women’s and kid’s footwear as well as loungewear, outerwear, home products, cold weather accessories and handbags. The brand’s concept and outlet stores offer the ultimate brand experience with 137 locations worldwide, including New York, San Francisco, Los Angeles, Paris, London, Tokyo

Our third quarter was more challenging than we expected as warm weather and weak store traffic across retail pressured demand,” commented Angel Martinez, Chief Executive Officer and Chair of the Board of Directors. “While we have made significant progress diversifying our brands and product lines and transforming our organization over the past several years, we recognize the need to accelerate elements of our long-term strategy.  To do this, we are streamlining our organization so we can dedicate more resources to our largest market opportunities. We are targeting approximately$35 million in annualized run rate expense savings from office consolidations, realignment of our brand management, and select retail store closings. We plan to invest approximately $10 million of this savings back into the business. We are confident these changes will increase profitability and improve shareholder returns.”

Brand Office Consolidation Deckers is moving the Sanuk® brand’s operations to its global headquarters in Goleta to enhance the brand’s growth prospects and is closing the Sanuk office in Irvine, California. Deckers is also closing the Ahnu® office outside San Francisco as it seeks strategic alternatives aimed at optimizing the value of the Ahnu brand.