Deckers Outdoor Corp. (DECK) 2018年年度报告「NASDAQ」.pdf

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1、2018StockholderLetterDearStockholders,Fiscalyear2018wasaverysuccessfulyearforDeckersBrandsandIamproudoftheorganizationsmanyaccomplishments.Ourbrandsdroverevenuegrowthof6.3%inaretailenvironmentthatremainsturbulentandcontinuestoundergosignificantchange.Alongsidethisrevenuegrowth,wealsoincreasednonGAAP

2、operatingmarginby320basispointsto12.4%andgrewnonGAAPdiluted earningspershareby50%to$5.74.Theseachievementshighlightourcontinuedcommitmenttodrivingourstrongbrandportfolioforward,whiledeliveringimprovedlevelsofprofitability.BUSINESSOVERVIEWEvidencedinourresultsoverthelastyear,ourteamisintentlyfocusedo

3、nexecutingonouroperatingprofitimprovementplanandlongrangetargets,withthegoalof$2billioninsales,anoperatingmarginof13%andROICnorthof20%byfiscalyearend2020.Theresultsproducedfromtheworkputinoverthelastyearhaveexceededmyexpectations,andIamproudoftheprogressthatwehavemade.Ourbrandshaveimprovedgrossmargi

4、ns,andwehaveleveragedpastinvestmentstogainefficienciesinouroperations.Collectively,theseactionshaveputusonthepathtodeliverourlongrangeoutlook.ThispastyeartheCompanyalsounderwentareviewofstrategicalternatives,duringwhichourBoardofDirectorsreviewedavarietyofoptionstoidentifythemostefficientpathwaytore

5、turnvaluetoourstockholders.Amongstalloptionspresented,weconcludedthatourinternalcostsavingsinitiativesandoperatingprofitimprovementplan,coupledwithameaningfulincreaseinoursharerepurchaseauthorization,providedthebestwaytomaximizestockholdervalue.Weareconfidentthatthestrategicdirectionofourbusinessand

6、thestrengthofourfivebrandscandrivesubstantialstockholdergainsoverthelongterm.Lookingtotheyearahead,ourmainstrategicinitiativesarecenteredaround:ExploitingtheopportunitywehavetogrowtheHOKAONEONEbrand,bothdomesticallyandinternationally;ContinuingtogrowawarenessaroundtheUGGMensproductlinebypartneringwi