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Marcato's McGuire says Deckers has made 'critical missteps': CNBC

Published 02/13/2017, 01:13 PM
Updated 02/13/2017, 01:20 PM
© Reuters.  Marcato's McGuire says Deckers has made 'critical missteps': CNBC
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NEW YORK (Reuters) - Mick McGuire, founder of activist hedge fund Marcato Capital Management, told CNBC on Monday that Deckers Outdoor Corp (N:DECK) had made capital allocation missteps and showed a lack of discipline around costs.

"Deckers is...a business with a great brand, generates a lot of cash flow and actually trades at one of its lowest valuations in its history, but they've made some very critical missteps around capital allocation and really a lack of discipline around costs and returns on capital," McGuire told the cable television network.

Deckers was not immediately available for comment.

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