On the heels of a tough spring season for sandals, Deckers Outdoor Corporation is revising its Q2 and full guidance downward, cutting 12 cents to 13 cents from the already dismal EPS guidance ranges for the quarter and the year on a $2 million reduction in sales guidance for the same periods.

DECK now expects diluted EPS between 15 cents and 18 cents for the second quarter on sales in the $38 million to $39 million range. Second quarter earnings last year came in at 43 cents per diluted share on sales of $40.5 million. The downward guidance for Q2 represents a 58% to 65% earnings decrease on a 4% to 6% decline in sales.

For the year, Deckers now sees earnings in the $2.32 to $2.43 per diluted share range on sales between $248 million and $258 million. The revised earnings range is still a 10% to 11% increase over the prior year and the revised sales forecast would represent a 15% to 20% increase versus 2004.


>>> This is just the sandal effect so far…

>>> This is an awful lot of pressure to put on Uggs for the back half