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The Company is a designer, producer and brand manager of innovative, high-quality footwear and the category creator in the sport sandal, luxury sheepskin and sustainable footwear segments.
DECK appears to have found support at $40 which was it's prior consolidation point for most of 2010. It has had a rough year due to increased input costs with the rise in the price of sheepskin as well as the problems in Europe. Each of these appear to be temporary problems which will find relief in the near future. Their domestic sales of their primary brand grew in the double digits, Sanuk appears to have been a timely good buy, there direct online sales are finding traction, and Asian markets offer ample growth opportunity. Given their fundamentals they appear cheap at these prices. Further, the 13 day SMA is about to cross the 50 day SMA and the underlying price just crossed above the 50 day SMA in higher volume for the first time since February. On the weekly chart the price just crossed above the 13 week SMA also for the first time since February.
Though I believe in the management team and the underlying strength of the company, this stock pushes my ability to check my emotions at the door to the limit.
According to SEC filings, Carl Icahn has amassed an 11.3 percent stake in the boot maker Deckers Outdoor Corporation (DECK). Icahn hinted that he may initiate communication with DECK’s management team but he did not provide details of his intent. Industry analysts believe Icahn may try to force a sale of the company to a large company like VF Corporation (VFC), which acquired Timberland last year for $2 billion.
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