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Deckers stock soars as Hokas keep hitting

The maker of ugly but beloved running shoes can take a victory lap.

10/25/24 11:27AM

Ugly shoe giant Deckers Outdoor — the parent company of UGGs and Teva — jumped by the most since May, after reporting blowout numbers and raising its annual-profit forecast.

Demand is hot, especially for the company’s chunky, orthopedic-looking Hoka running sneakers. Hoka sales were up more than 35% to a record of $571 million during the quarter that ended in September. Company executives spotlighted growing international demand for the brand.

Investors are clearly sold on the story, with the stock handily outpacing the market over the last year as strong earnings have so far justified sky-high earnings expectations.

Deckers can clearly take a victory lap. But, of course, in the hit-based sneaker industry, victory can be fleeting. One need only look at the ongoing travails of Nike — down more than 27% in 2024 — to see that.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.