Deckers Outdoor

Deckers Brands designs and sells footwear, apparel and accessories. Its two main brands are HOKA, a running and performance shoe brand, and UGG, a lifestyle brand known for sheepskin boots. It also owns Teva. It sells to department stores, specialty stores and other retailers, and directly to consumers through its own stores and websites, in more than 50 countries.

In fiscal 2026, which ended on March 31, 2026, net sales were $5.47 billion: UGG had $2.74 billion and HOKA had $2.59 billion. International net sales were $2.28 billion. The company is based in Goleta, California.

The market prices Deckers for slower growth at both of its brands. HOKA grew 15.9% in fiscal 2026, but the company now expects only high single-digit growth in fiscal 2027. UGG now expects low single-digit growth. On October 22, 2026, Deckers lowered its fiscal 2027 net sales outlook to $5.700 billion to $5.725 billion, from $5.86 billion to $5.91 billion in May.

U.S. net sales fell 0.4% in Q2 fiscal 2027, and comparable direct-to-consumer sales fell 6.4%. The EPS outlook rose only because of tariff refunds of about $0.52 per share. For the gap to close, three things must be true. HOKA must return to the low double-digit growth of the multi-year framework that runs to fiscal 2030.

UGG must hold its full-price sales in the holiday quarter. The operating margin must stay in the low 20% range while the company buys back stock with its free cash flow. The Q3 fiscal 2027 report, expected in late January 2027, and the fiscal 2028 outlook, expected in May 2027, give the next tests. If these checks pass, the gap can close over the next four to six quarters.

The main reason it may not close is weaker U.S. demand and more competition in running shoes, which can keep HOKA growth low.

1. Jan 28, 2027 · est.Pending

   Q3 fiscal 2027 results: UGG holiday seasonUGG growth at or above the low single-digit outlook, HOKA growth near high single digits and a kept fiscal 2027 outlook pass; another cut to the sales outlook or lower gross margin fail.
2. May 2027 · est.Pending

   Fiscal 2027 results and fiscal 2028 outlookA fiscal 2028 outlook with high single-digit sales growth and low double-digit HOKA growth, as in the multi-year framework, passes; an outlook below the framework fails.

Every passed and failed checkpoint across all picks

• October 22, 2026Deckers reported Q2 fiscal 2027 results. Net sales rose 3.5% to a record $1.481 billion. HOKA sales rose 6.8% to $677.2 million, and UGG sales rose 3.5% to $786.4 million. Diluted EPS was $2.31, including a benefit of $0.28 from tariff refunds. The company lowered its fiscal 2027 net sales outlook to $5.700 billion to $5.725 billion and raised its diluted EPS outlook to $7.80 to $7.95, including a benefit of about $0.52 from tariff refunds. It bought back $299.3 million of stock in the quarter.
• August 27, 2026Deckers amended its credit agreement. The unsecured revolving credit facility increased to $500 million, and its maturity moved to August 27, 2031.
• July 23, 2026Deckers reported Q1 fiscal 2027 results. Net sales rose 5.7% to $1.020 billion, the first Q1 above $1 billion. HOKA sales rose 7.7%, and UGG sales rose 4.9%. Diluted EPS was $0.94. The company kept its net sales outlook and raised its fiscal 2027 diluted EPS outlook to $7.35 to $7.50.

Last earnings

October 22, 2026 (8-K on sec.gov)

Next earnings

Expected about January 28, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 29, 2026 · deck-20260930
• 8-KEarnings release and Change of directors or officersFiled October 22, 2026 · deck-20261020
• 8-KShareholder vote resultsFiled September 15, 2026 · deck-20260914
• 8-KNew material agreement and New debt or financial obligationFiled August 31, 2026 · deck-20260827
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 30, 2026 · deck-20260630
• 8-KEarnings releaseFiled July 23, 2026 · deck-20260723
• 10-KAnnual report for the period ended Mar 31, 2026Filed May 22, 2026 · deck-20260331
• 8-KEarnings releaseFiled May 21, 2026 · deck-20260521
• 10-QQuarterly report for the period ended Dec 31, 2025Filed February 3, 2026 · deck-20251231
• 8-KEarnings releaseFiled January 29, 2026 · deck-20260129

Every filing on SEC EDGAR (CIK 910521)

• Growth at HOKA is slowing. The company cut its fiscal 2027 HOKA outlook to high single-digit growth from low double-digit growth. Running shoes are a competitive market, and slower HOKA growth lowers the value of the multi-year plan.
• UGG earns most of its sales in the holiday quarter and depends on cold weather and fashion. A warm winter or a change in fashion can lower full-price sales and margins.
• U.S. consumer demand is weak. U.S. net sales fell 0.4% in Q2 fiscal 2027, and comparable direct-to-consumer sales fell 6.4%. More discounts in the market can lower gross margin.
• Deckers makes most of its products in Asia. New U.S. tariffs can raise costs. The fiscal 2027 outlook does not assume more tariff refunds after the $87.9 million received through October 8, 2026.

Deckers has no debt. Cash and cash equivalents were $1.210 billion at September 30, 2026, down from $1.907 billion at March 31, 2026, because the company bought back $637.5 million of stock in the first half of fiscal 2027 and built inventory for the holiday season. Read more

Deckers Outdoor does not pay a dividend.

Source: company filings and market data, read on October 29, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.