Activist investor Marcato Capital Management on Tuesday warned Deckers Outdoor that it seeks to shake up management and the board by replacing all directors unless the footwear maker sells itself at an attractive price.
The California-based footwear company, which owns brands such as Uggs and Teva, saw net sales fall 2.4% to $369.5 million in its 4th quarter but surprised investors with higher revenues and an unexpected profit.
Deckers Outdoor Corp said on Tuesday it was exploring strategic alternatives, including a sale of the company, a month after an activist investor urged the apparel and accessories maker to sell itself.
Mick McGuire, founder of activist hedge fund Marcato Capital Management, told CNBC on Monday that Deckers Outdoor Corp had erred by over-investing in physical retail stores but that their Ugg brand has great potential.
Activist hedge fund Marcato Capital Management LP reported a 6 percent stake in Deckers Outdoor Corp , saying it intends to discuss strategy and options for the struggling maker of UGG boots and apparel.
Textile Exchange has received commitments from various apparel brands to the Responsible Wool Standard (RWS), which is a voluntary global standard that addresses the welfare of sheep and of the land they graze on.