×
99 196
Fashion Jobs
MICHAEL KORS STORES LLC
Full Time Sales Supervisor, Brookfield Place Nyc
Permanent · Rochester Metropolitan Area
ROSS STORES
Store Protection Specialist
Permanent · Houston
TJ MAXX
lp Detective
Permanent · Homestead
TJ MAXX
70118-Loss Prevention Detective, Newbury st, Boston, ma
Permanent · Boston
HOMEGOODS
lp Detective
Permanent · Frederick
TJ MAXX
70118-Loss Preventon Detective, Downtown Boston, ma
Permanent · Boston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Chattanooga
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Norman
MACY'S
Asset Protection Detective, Bridgewater Commons - Full Time
Permanent · Bridgewater Township
MACY'S
Asset Protection Security Guard, Presidential Markets - Full Time
Permanent · Snellville
MACY'S
Asset Protection Detective, Santa Ana Mainplace - Part Time
Permanent · Santa Ana
MACY'S
Asset Protection Detective, Reno Meadowwood - Full Time
Permanent · Reno
MACY'S
Asset Protection Detective, Topanga - Part Time
Permanent · Los Angeles
BLOOMINGDALE'S
Asset Protection Outlet Supervisor, Outlets at Orange - Full Time
Permanent · Orange
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Roosevelt Field - Part Time
Permanent · Garden City
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Palmdale
KOHLS
Full-Time Loss Prevention Officer
Permanent · Pleasant Hill
KOHLS
Human Resources Generalist - Logistics
Permanent · DeSoto
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · West Des Moines
COTY
sr. Manager, Ecommerce Trade Mkting
Permanent · Los Angeles
COTY
Manager, Ecommerce Trade Mkting
Permanent · Los Angeles
COTY
Manager, Ecommerce Independents
Permanent · Los Angeles
Published
Nov 2, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Deckers Board pleads to shareholders to keep company on track

Published
Nov 2, 2017

Deckers Brands Board of Directors revealed the turmoil the brand is currently going through in a letter it sent to its shareholders urging them to retain the current Board and not replace them with hedge fund nominees.


Deckers


Deckers will hold its Annual Meeting next month where a vote will take place to elect nine members for the Board of Directors. John Gibbons, Chairman of Deckers' Board, wrote the impassioned letter asking for shareholders to trust the strategy Deckers has been implementing to turn its business around.

Deckers explained to its shareholders that the San Francisco-based hedge fund Marcato Capital Managment, which owns 8 percent of Deckers stock, has its own list of nine nominees it would like to see put on the Board. Gibbons wrote that Marcato "is trying to seize control of our Board of Directors"

Deckers explained to its shareholders that Marcato's nominees will lead the company in the wrong direction. It feels Marcato's goals will "disrupt the strong momentum" of Deckers' strategic plan which, Gibbons emphasised, has been working.

The strategic plan positions Deckers for a marketplace transformation. In it, Deckers plans to grow its Ugg brand as well as its $100 million dollar Hoka One One brand. Deckers' strategy also included consolidating operations for Sanuk and Hoka One One to the corporate headquarters. The company intends to create more seasonal assortments and also expand internationally.

Deckers is on track for an operating profit of $100 million by 2020. Gibbons points to closing unprofitable retail stores, including 25 Ugg stores, and streamlining production for all brands as two significant factors that will help it achieve its goals.

According to the shareholder letter, Deckers has outperformed its peer group and shows larger returns than its competitors. The peer group researched includes The Buckle, Carter's, Chico's, Columbia Sportswear Company, Crocs, DSW, Express, Finish Line, Fossil, G-III, Guess, Lululemon, Skechers, Steven Madden, Under Armour and Wolverine World Wide.

Deckers Annual Meeting will take place on December 14th at which time the vote will take place.
 

Copyright © 2021 FashionNetwork.com All rights reserved.