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Maker of Ugg boots, Teva sandals may put itself up for sale
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Deckers Brands said Tuesday that it is considering alternatives that could include selling the Goleta, California-based company. (Shutterstock/EQRoy)
The maker of Ugg boots, Teva sandals and other footwear may put itself up for sale.
Deckers Brands said Tuesday that it is considering alternatives that could include selling the Goleta, California-based company.
Several hedge funds, including Marcato Capital Management, bought blocks of Deckers stock earlier this year and have been pressuring the company to make changes.
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Deckers CEO Dave Powers says the company has been working to cut $150 million in costs while reducing the number of its retail stores. Nevertheless, Deckers' board has decided to evaluate all options.
The company will provide an update on its plans when it reports its fiscal fourth-quarter earnings on May 25.
Deckers had predicted that its sales would be down 5 percent this fiscal year, and restructuring charges would reduce profits.
