Deckers shareholders voted to keep the company's Board intact, defeating activist investor Marcato whose Board nominees wanted to make changes to the company that included selling off its Hoka, Teva and Sanuk brands.
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.
Deckers Brands records net sales of $378.6 million and $1.875 billion in Q4 and the full year 2016, respectively. Deckers CEO Angel Martinez announced his retirement and he will be succeeded by President David Powers.