Company Announcements

• First Quarter FY 2026 Revenue Increased 17% to $965 Million
• First Quarter FY 2026 Diluted EPS Increased 24% to $0.93

GOLETA, Calif.--(BUSINESS WIRE)--Jul. 24, 2025-- Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced financial results for the first fiscal quarter ended June 30, 2025. The Company also provided its financial outlook for the second fiscal quarter ending September 30, 2025.

“HOKA and UGG outperformed our first quarter expectations, with robust growth delivering solid results to begin fiscal year 2026,” said Stefano Caroti, President and Chief Executive Officer. “Though uncertainty remains elevated in the global trade environment, our confidence in our brands has not changed, and the long-term opportunities ahead are significant. We will lean on the fundamental strengths of our powerful operating model as we continue executing our strategy.”

First Quarter Fiscal 2026 Financial Review (Compared to the Same Period Last Year)

• Net sales increased 16.9% to $964.5 million compared to $825.3 million. On a constant currency basis, net sales increased 16.3%.
  • Brand
    • HOKA® brand net sales increased 19.8% to $653.1 million compared to $545.2 million.
    • UGG® brand net sales increased 18.9% to $265.1 million compared to $223.0 million.
    • Other brands net sales decreased 19.0% to $46.3 million compared to $57.2 million.
  • Channel
    • Wholesale net sales increased 26.7% to $652.4 million compared to $514.8 million.
    • DTC net sales increased 0.5% to $312.2 million compared to $310.6 million. DTC comparable net sales decreased 2.2%.
  • Geography
    • Domestic net sales decreased 2.8% to $501.3 million compared to $515.9 million.
    • International net sales increased 49.7% to $463.3 million compared to $309.5 million.
• Gross margin was 55.8% compared to 56.9%.
• SG&A expenses were $372.6 million compared to $337.2 million.
• Operating income was $165.3 million compared to $132.8 million.
• Diluted earnings per share was $0.93 compared to $0.75. As previously disclosed, the Company effected a six-for-one forward stock split of its common stock during the second fiscal quarter ended September 30, 2024. The share, per share, and resulting financial amounts in this press release have been adjusted to reflect the effectiveness of the stock split.

Balance Sheet (June 30, 2025 as compared to June 30, 2024)

• Cash and cash equivalents were $1.720 billion compared to $1.438 billion.
• Inventories were $849.4 million compared to $753.3 million.
• The Company had no outstanding borrowings.

Capital Allocation

During the first fiscal quarter, the Company repurchased approximately 1.7 million shares of its common stock for a total of $183.0 million at a weighted average price paid per share of $109.84. As of July 10, 2025, the Company had approximately $2.4 billion remaining under its stock repurchase authorization.

Second Quarter Fiscal 2026 Outlook for the Three Month Period Ending September 30, 2025

Given the continued uncertainty from evolving global trade policy and related macroeconomic pressures, the Company will only be providing second quarter guidance. The following represents management's current outlook.

• Net sales are expected to be in the range of $1.38 billion to $1.42 billion.
• Diluted earnings per share is expected to be in the range of $1.50 to $1.55.
• Diluted earnings per share guidance excludes any impact from additional share repurchases.

The Company’s outlook is forward-looking in nature, reflecting our expectations as of July 24, 2025, and is subject to significant risks and uncertainties that limit our ability to accurately forecast results. This outlook assumes no meaningful changes to the Company’s business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to: changes in macroeconomic conditions, including consumer confidence, discretionary spending, inflationary pressures, and foreign currency fluctuations; changes to global trade policy, including tariffs and trade restrictions; geopolitical tensions; and supply chain disruption.

Non-GAAP Financial Measures

In certain instances the Company may present financial measures that were not prepared in accordance with generally accepted accounting principles in the United States (non-GAAP financial measures), including constant currency. These non-GAAP measures provide information that may assist investors in understanding its financial results and assessing its prospects for future performance. The Company believes these non-GAAP financial measures are important indicators of its operating performance because they exclude items that are unrelated to, and may not be indicative of, its core operating results.

The non-GAAP financial measures presented by the Company may not necessarily be comparable to similarly titled measures of other companies and may not be appropriate measures for comparing the performance of other companies relative to Deckers. For example, to calculate constant currency information, the Company calculates the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period, excluding the effects of foreign currency exchange rate hedges and remeasurements in the condensed consolidated financial statements. Further, the Company reports DTC comparable net sales on a constant currency basis for DTC operations that were open throughout the current and prior reporting periods, and may adjust prior reporting periods to conform to current year accounting policies. These non-GAAP financial measures are not intended to represent, and should not be considered to be more meaningful measures than, or alternatives to, measures of operating performance determined in accordance with GAAP. To the extent the Company utilizes such non-GAAP financial measures in the future, it expects to calculate them using a consistent method from period-to-period.

Conference Call Information

The Company’s conference call to review the results for the first quarter fiscal year 2026 will be broadcast live today, Thursday, July 24, 2025, at 4:30 pm Eastern Time and hosted at ir.deckers.com. You can access the broadcast by clicking on the link within the “Webcast” box at the top of the page. A replay of the broadcast will be available for at least 30 days following the conference call and can be accessed under the “Quarterly Earnings” section of the “Financials” tab at the aforementioned website.

About Deckers Brands

Deckers Brands is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories developed for both everyday casual lifestyle use and high-performance activities. The Company’s portfolio of brands includes UGG®, HOKA®, Teva®, and AHNU®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has over 50 years of history building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information, please visit www.deckers.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding our projected financial results, including net sales, gross margin, SG&A expenses, operating margin, inventories, effective tax rate, and diluted earnings per share; consumer confidence and discretionary spending, including uncertainties associated with the global trade environment; the strength of our brands and demand for our products; our ability to drive future growth and profitability; our ability to execute on our long-term strategies, objectives, and opportunities; and our ability to return value to our stockholders, including potential repurchase of shares. We have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” or “would,” and similar expressions or the negative of these expressions.

Forward-looking statements represent our management’s current expectations and predictions about trends affecting our business and industry and are based on information available as of the time such statements are made. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause our actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, as well as in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable law or the listing rules of the New York Stock Exchange, we expressly disclaim any intent or obligation to update any forward-looking statements, or to update the reasons actual results could differ materially from those expressed or implied by these forward-looking statements, whether to conform such statements to actual results or changes in our expectations, or as a result of the availability of new information.

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Investor Contact:
Erinn Kohler | VP, Investor Relations, Corporate Planning & Business Analytics | Deckers Brands | 805.967.7611

Source: Deckers Brands