Shares of shoemaker Deckers Outdoor (DECK) begin trading today (Sept. 17) on a six-for-one split-adjusted basis.
Following the split, Deckers’ stock will start trading in New York at $156.28 U.S. per share.
The split comes after the stock has risen nearly 80% in the past year, driven by strong sales of its popular brands that include Hoka running shoes, Ugg boots and Teva sandals.
Deckers last split its stock on a three-for-one basis in 2010.
The stock split was initiated by the company’s new chief executive officer (CEO) Stefano Caroti, who assumed the top role in July following the retirement of previous CEO Dave Powers.
Deckers Outdoor has reported strong financial results over the last two years due largely to robust sales of its Hoka running shoes and Ugg boots.
At the end of July, Deckers Outdoor reported financial results that crushed Wall Street forecasts, with its profit rising 87% from a year earlier and sales growing 22% year over year.
The company also reported that its gross margin during its most recent quarter rose to 56.9% from 51.3% previously.
So far in 2024, the stock of Deckers Outdoor has increased 39%. Over five years, the company’s share price has gained 588%.