Deckers Brands, parent company to brands like Ugg, Hoka One One, Teva and Sanuk, announced a review of its strategic alternatives Tuesday.
After a rough third quarter Deckers Brands will explore the possibility of a sale or other transaction, as well as any other means that may help increase stockholder value.
“We have made significant progress in streamlining our cost structure, optimizing our retail store fleet, and realigning our brands, with the goal of improving profitability,” said Dave Powers, Deckers CEO and president. “The management team continues to remain focused on driving improvements in the business through our recently announced $150 million savings program. We are also continuing to explore additional margin enhancing opportunities and plan to further articulate more details on our upcoming year-end earnings call on May 25, 2017.”
However, Deckers warns that the strategic review process may not mean a transaction, and that the brand has not set a timetable for the review process, and does not mean to comment further unless the Board of Directors approves a specific transaction, the review process is complete, or otherwise determined or appropriately required by law.