Sanuk USA LLC’s revenue for the third quarter of its fiscal year 2016 decreased 17% to $17 million compared to $20.5 million in the same period last year, according to parent company Deckers Outdoor Corp. in Goleta.
The sandal maker is closing its Irvine operations and moving to Deckers’ headquarters. The parent company relocated HOKA One One running shoe brand in October and said it plans to do the same with hiking footwear Ahnu’s office outside San Francisco.
Deckers also plans to realign its brands across two groups, fashion lifestyle and performance lifestyle, with Sanuk falling into latter along with Teva and HOKA One One.
Deckers reported $795.9 million in revenue, up 1.4% over same period last year. Its net income was $156.9 million, or $ 4.78 per diluted share. Analysts expected revenue of $831.9 million and $4.75 per share earnings.
Deckers bought Sanuk for $120 million from founder Jeff Kelley in 2011.
