Uggs, everyone's favorite comfy boot evolved from a fashion trend to an oversaturated brand, is not having a warm and fuzzy year. Huffington Post reports that parent company Deckers Outdoor Corp. fell 16% Friday to a three-year low just before the holiday season.
The company blames two years of price increases on Uggs for the lack of love, but maybe comsumers have just moved on.
Sam Poser, an analyst at Sterne Agee, said that "the worst is yet to come." Weaker Uggs sales might not just be due to weather, but may indicate that the boots have fallen out of fashion, he said.
One way Deckers will attempt to lure customers back is by rolling back prices on some of the Uggs styles in the U.S.
To read more on Uggs falling sales click here.
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