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Fly News Breaks for January 4, 2016
DECK
Jan 4, 2016 | 06:29 EDT
B. Riley analyst Mitch Kummetz downgraded Deckers Outdoors to Neutral and lowered his price target to $52 from $75 on shares. Kummetz said the warm weather negatively impacted Q3 results as well as Q4 and FY17 outlook and expects reorders/cancellations to be a net negative, not a net neutral as planned. Additionally, the analyst expects retailers to prebook cold-weather categories very cautiously in 2016, especially UGGs given Deckers unusual promotional activity.
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