Hoka jogging shoes the stock price of the owning company is rising sharply.
On Friday, the share price of Deckers Outdoor, listed on the technology exchange Nasdaq, rose above 1,000 dollars, or about 920 euros, for the first time. There was a 14 percent increase in the day.
The company said on Thursday its first-quarter results, which sent investors wild. Compared to the previous year, turnover increased by a good 21 percent to approximately 960 million dollars.
The operating profit was approximately 144 million dollars, which was an increase of almost 40 million compared to a year ago.
“In the company there are two very powerful brands that resonate with consumers, Ugg and Hoka,” said the analyst Jessica Ramirez news agency Reuters.
Hoka is known for its sneakers. Ugg’s selection includes other types of slippers and sandals.
Hoka’s net sales grew the most among the group’s products, 34 percent compared to the spring of last year. Its shoes sold more than half a billion dollars this spring, making Hoka the group’s most profitable brand.
The group’s comfort-oriented Sanuk sandals took the biggest hit, sales of which fell rapidly.
With specialized ones shoe brands are doing well now, according to analysts interviewed by Reuters.
For example, Deckers Outdoor’s share price has risen by 35 percent this year, while shoe giant Nike’s share price has fallen by about 15 percent.
According to analysts, Nike and Adidas are lagging behind in innovation, which creates space for new entrants to eat away at their market share.