Quarterly Summary of Information (Unaudited)

The Company’s business is seasonal, with the highest percentage of UGG brand net sales occurring in the quarters ending September 30th and December 31st and the highest percentage of Teva and Sanuk brand net sales occurring in the quarters ending March 31st and June 30th of each year. Net sales of Other brands do not have significant seasonal impact on the Company. Due to the size of the UGG brand relative to the Company’s other brands, the Company’s aggregate net sales in the quarters ending September 30th and December 31st have significantly exceeded net sales in the quarters ending March 31st and June 30th. While the Company has taken steps to diversify its product offerings, both by creating more year-round styles and expanding product offerings within its existing brands, and by acquiring and developing new brands, the Company expects this trend to continue for the foreseeable future.

Summarized unaudited quarterly financial data are as follows:



	Fiscal Year 2019
	Quarter Ended
	6/30/2018			9/30/2018		12/31/2018		3/31/2019
Net sales*	$	250,594		$	501,913	$	873,800	$	394,130
Gross profit	114,965			251,887		470,093		203,305
(Loss) income from operations**	(39,414		)	90,412		244,718		31,604
Net (loss) income***	(30,407		)	74,372		196,374		23,969
Net (loss) income per share
Basic	$	(1.00	)	$	2.49	$	6.74	$	0.82
Diluted	$	(1.00	)	$	2.48	$	6.68	$	0.82



	Fiscal Year 2018
	Quarter Ended
	6/30/2017			9/30/2017		12/31/2017		3/31/2018
Net sales*	$	209,717		$	482,460	$	810,478	$	400,684
Gross profit	90,625			225,117		423,471		192,429
(Loss) income from operations**	(56,256		)	67,355		193,191		18,294
Net (loss) income***	(42,121		)	49,559		86,341		20,615
Net (loss) income per share
Basic	$	(1.32	)	$	1.55	$	2.71	$	0.66
Diluted	$	(1.32	)	$	1.54	$	2.69	$	0.66

*Reflects a difference in accounting policy in connection with the adoption of ASU No. 2014-09, Revenue from Contracts with Customers, beginning April 1, 2018. The most significant impact for this change in accounting policy was to net sales recorded for the quarter ended December 31, 2017, which reflects a deferral of in transit net sales of approximately $12,000, primarily in the DTC reportable operating segment, for which the Company did not recognize a deferral for in transit net sales during the quarter ended December 31, 2018. The impact of this change in accounting policy to other quarterly comparative periods presented were immaterial.

**Includes restructuring charges of $295 and $1,667 for the years ended March 31, 2019 and 2018, respectively, primarily incurred during the second quarter of fiscal year 2019 and the first and third quarters of fiscal year 2018. Refer to Note 1, “General,” under the heading “Restructuring” for further information.

***Includes significant impacts to income tax expense for fiscal year 2018 due to the Tax Reform Act. Refer to Note 5, “Income Taxes,” under the heading “Income Tax Expense (Benefit) Reconciliation” for further information.