While these execution errors put a dent in the firm's revenue—management estimated about $9 million to $12 million was left on the table as a result—they're a sign that customers are willing to shell out cash on more than the classic boot that made Ugg a household name.
"Though Ugg sales came in below expectations, we are encouraged by strong full-price selling of casual, weather and specialty boots," Jefferies analyst Randal Konik wrote in a note to investors.
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Ugg sales account for about 93 percent of Deckers' revenue.
In addition to inventory problems, Sterne Agee analyst Sam Poser said that currency pressures dented Deckers' earnings by roughly 14 cents a share, as traffic was down "significantly more" at its tourist-friendly shops, such as in Las Vegas.
"The strong dollar caused currency translation pressure, and hurt store traffic in markets to which foreign tourists flock," Poser said. "Management did a poor job clearly delineating the FX impact to earnings in the quarter."
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Both analysts have a "buy" rating on Deckers; Konik has a price target of $110 on the stock, which was trading near $68 Friday. Poser has a price target of $90.