Shares of Deckers Brands

DECK, +2.15%

fell in Thursday’s extended session after the footwear company said it will no longer seek a sale after failing to find a potential bidder out of some 90 entities it had contacted. However, the company remains open to considering other strategic alternatives to boost stockholder value, said John Gibbons, chairman of the board, in a statement. Deckers also announced a new stock buyback program of up to $335 million on top of the $65 million remaining in its current plan. It separately reported second-quarter earnings of $1.54 a share on revenue of $482.5 million, ahead of the $1.02 a share in earnings and revenue of $438 million forecast by analysts in a FactSet survey. Shares trimmed losses in late trade to slide 0.6% after being down as much as 6% earlier. [Updated with quarterly earnings data.]

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