Business

Market Movers

Ugg maker loses it footing on forecast

Former Celtic Cedric Maxwell attended the opening of the Ugg store on Newbury Street in 2011.
Barry Chin/GLOBE STAFF/File
Former Celtic Cedric Maxwell attended the opening of the Ugg store on Newbury Street in 2011.

Deckers Outdoor Corp. fell after the maker of Ugg footwear surprised investors by forecasting a loss. Deckers said it anticipates a first-quarter loss of about 16 cents per share. Analysts had expected a profit of 11 cents. Deckers cited costs tied with later openings of 28 new stores as part of the lower forecast. The company believes that earnings in the second half of 2014, however, will exceed last year’s. For 2014, Deckers said it foresees about a 9 percent increase in Ugg revenue.

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