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Deckers Brands, the maker of UGG and Teva footwear, said on Tuesday that it is considering “strategic alternatives”, including a possible sale.

The decision comes as the company’s board looks to “unlock further value” on top of a previously announced $150m cost-savings scheme and examination of ways to “enhance” its margins.

“We have made significant progress in streamlining our cost structure, optimising our retail store fleet, and realigning our brands, with the goal of improving profitability,” said chief executive Dave Powers.

Shares jumped 6.8 per cent in after-hours trading.

Deckers has hired Moelis & Company as its financial advisor.

Copyright The Financial Times Limited 2017. All rights reserved.

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