Deckers Outdoor Corporation (DECK)

General

We are a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories

developed for both everyday casual lifestyle use and high-performance activities. We market our products primarily

under three proprietary brands: HOKA, UGG, and Teva.

Our brands compete across the fashion and casual lifestyle, performance, running, and outdoor markets. We

believe our products are distinctive and appeal to a broad demographic. Our brands sell our products through

quality domestic and international retailers and international distributors in our wholesale channel, and directly to

global consumers through our Direct-to-Consumer (DTC) channel, which is comprised of an e‑commerce and retail

store presence. We seek to differentiate our brands and products by offering diverse lines that emphasize fashion,

performance, authenticity, functionality, quality, and comfort, and products tailored to a variety of activities, seasons,

and demographic groups. Independent third-party contractors manufacture all of our products (independent

manufacturers).

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Brands

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Financial statements

data from SEC XBRL filings. Values are as-reported; restatements supersede originals. Values reported in .

From 10-Q filed 2026-07-30 (period ending 2026-06-30).

The following discussion of our financial condition and results of operations should be read together with our

condensed consolidated financial statements and the related notes included in Part I, Item 1, “Financial

Statements,” within this Quarterly Report, and the audited consolidated financial statements included in Part II, Item

8, “Financial Statements and Supplementary Data,” of our 2026 Annual Report, filed with the SEC on May 22, 2026,

which is available free of charge on the SEC’s website at www.sec.gov and our website at ir.deckers.com.

Certain statements made in this section constitute “forward-looking statements,” which are subject to numerous

risks and uncertainties. Our actual results of operations may differ materially from those expressed or implied by

these forward-looking statements as a result of many factors, including those set forth in the section titled

“Cautionary Note Regarding Forward-Looking Statements” and Part II, Item 1A, “Risk Factors,” within this Quarterly

Report.

Overview

We are a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories

developed for both everyday casual lifestyle use and high-performance activities. We market our products primarily

under three proprietary brands: HOKA, UGG, and Teva.

Our brands compete across the fashion and casual lifestyle, performance, running, and outdoor markets. We

believe our products are distinctive and appeal to a broad demographic. Our brands sell our products through

quality domestic and international retailers and international distributors in our wholesale channel, and directly to

global consumers through our DTC channel, which is comprised of an e-commerce and retail store presence. We

seek to differentiate our brands and products by offering diverse lines that emphasize fashion, performance,

authenticity, functionality, quality, and comfort, and products tailored to a variety of activities, seasons, and

demographic groups.

Financial Highlights

Consolidated financial performance highlights for the three months ended June 30, 2026, compared to the prior

period, were as follows:

•Net sales increased 5.7% to $1,019,531.

◦Brand

▪HOKA brand net sales increased 7.7% to $703,538.

▪UGG brand net sales increased 4.9% to $278,049.

▪Other brands net sales decreased 18.1% to $37,944.

◦Channel

▪Wholesale channel net sales increased 2.2% to $666,714.

▪DTC channel net sales increased 13.0% to $352,817.

◦Geography

▪Domestic net sales increased 3.2% to $517,428.

▪International net sales increased 8.4% to $502,103.

•Gross margin increased 60 basis points to 56.4%.

•SG&A expenses increased 12.7% to $419,862.

•Income from operations decreased 6.0% to $155,301.

•Income from operations as a percentage of net sales (operating margin) decreased 190 basis

points to 15.2%.

•Diluted earnings per share increased 1.1% to $0.94 per share.

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Trends and Uncertainties Impacting our Business and Industry

Macroeconomic and Geopolitical Factors. We continue to be exposed to risks from evolving trade policies,

including existing and proposed tariffs, and other restrictions, affecting goods imported from certain regions where

we have a concentration of sourcing and manufacturing. There is significant uncertainty regarding the duration and

scope of current and proposed tariff regimes, as well as the amount and timing of receipt of refunds of previously

paid IEEPA tariffs. While we continue to pursue mitigation strategies, we do not expect these efforts to fully offset

the incremental impact of tariffs we expect to incur during the current fiscal year, excluding the impact of any

potential refunds of IEEPA tariffs.

We previously paid an aggregate gross amount of approximately $120,000 in IEEPA tariffs, for which we have

begun filing for refunds. The net effect that any tariff refunds may have on our condensed consolidated financial

statements may be less than the gross amount of IEEPA tariffs as a result of a number of factors, including

accommodations provided under cost-sharing arrangements with our independent manufacturers, income taxes

payable on refunds received, and other relevant factors. As of the date of this Quarterly Report, we have not

recognized any IEEPA tariff refunds or related interest in our condensed consolidated financial statements. If tariff

refunds are ultimately received or otherwise become realizable, such developments may affect our future results of

operations and cash flows and may be considered in connection with future business decisions. Refer to Part I, Item

1, Note 6, “Commitments and Contingencies,” within this Quarterly Report for further information on the IEEPA tariff

refunds.

Other Factors. Our business and industry are subject to several additional important trends and uncertainties,

which have not materially changed from those described in our 2026 Annual Report. Refer to Part II, Item 7,

“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of our 2026 Annual

Report for further discussion. Refer to Part I, Item 1A, “Risk Factors,” of our 2026 Annual Report for detailed

information on the risks and uncertainties that may cause our actual results to differ materially from our

expectations.

Reportable Operating Segments Overview

As of June 30, 2026, our three reportable operating segments include the worldwide operations of the HOKA brand,

UGG brand, and Other brands.

HOKA Brand. The HOKA brand is an authentic premium line of year-round performance footwear, which offers

enhanced cushioning and inherent stability with minimal weight. Originally designed for ultra-runners, the brand now

appeals to world champions, tastemakers, and everyday athletes. Expansion into additional product categories,

elevated marketing campaigns, and investments in brand experiences, coupled with strategic marketplace

presence; have fueled both domestic and international sales growth of the HOKA brand, which has quickly become

a leading brand within run and outdoor specialty wholesale accounts and is growing across its global marketplace.

The HOKA brand’s product line includes running, trail, hiking, fitness, and lifestyle footwear offerings, as well as

apparel and accessories.

UGG Brand. The UGG brand is one of the most iconic and recognized footwear brands in our industry, which

highlights our successful track record of building niche brands into lifestyle and fashion market leaders. Born on the

California coast to warm surfers after they caught and rode the waves, we create iconic products and experiences

that are made for people to feel comfort, softness, warmth, and confidence. With loyal consumers around the world,

innovative products, and elevated storytelling, the UGG brand has proven to be a highly resilient consumer-focused

line of premium footwear, apparel, and accessories that has driven both domestic and international sales growth

with year-round product offerings that appeal to a growing global audience and a broad demographic.

Other Brands. Other brands consist primarily of the Teva brand. The Teva brand’s products are built for a range of

outdoor pursuits and include a variety of footwear options, from classic sandals and shoes to boots.

The Other brands reportable operating segment includes financial results of brands for which standalone operations

have been phased out in the prior fiscal year as described in the section titled “Reportable Operating Segment

Overview,” in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of

Operations,” of our 2026 Annual Report.

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Use of Non-GAAP Financial Measures

We disclose supplemental financial measures calculated and presented in accordance with US GAAP; however,

throughout this Quarterly Report, including within our condensed consolidated financial statements, we provide

certain financial information on a non-GAAP basis (non-GAAP financial measures). We provide non-GAAP financial

measures and information that may assist investors in understanding our results of operations and assessing our

prospects for future performance, which primarily consist of certain constant currency measures and total segment-

level financial information.

We believe presenting certain financial and operating measures on a constant currency basis is important as it

excludes the impact of foreign currency exchange rate fluctuations that are not indicative of our core results of

operations and are largely outside of our control. We calculate our constant currency non-GAAP financial measures

for current period financial information, such as total net sales 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. We also report comparable DTC sales on a

constant currency basis for DTC operations that were open throughout the current and prior reporting periods, and

we may adjust prior reporting periods to conform to current period accounting policies. The information presented

on a constant currency basis, as we present such information, may not necessarily be comparable to similarly titled

information presented by other companies, and may not be appropriate measures for comparing our performance

relative to other companies. Constant currency measures should not be considered in isolation, or as an alternative

to US dollar measures that reflect current period foreign currency exchange rates or to other financial or operating

measures presented in accordance with US GAAP.

We believe presenting certain segment-level operating measures, including total segment income from operations

and total segment SG&A expenses, is important because it allows for an evaluation of operating performance and

cost structure across brands. Our segment-level non-GAAP financial measures represent the results of operations

and expenses for our individual reportable operating segments and differ from our consolidated results because

they exclude certain unallocated enterprise and shared brand expenses. Our segment-level non-GAAP financial

measures should not be considered in isolation, or as an alternative to consolidated financial and operating

measures presented in accordance with US GAAP.

Seasonality

Refer to Note 1, “General,” of our condensed consolidated financial statements in Part I, Item 1 within this Quarterly

Report and to Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of

Operations,” of our 2026 Annual Report for further information regarding the impacts of seasonality on our business.

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Results of Operations

Three Months Ended June 30, 2026, Compared to Three Months Ended June 30, 2025. Results of operations

were as follows:

	Three Months Ended June 30,
	2026		2025		Change
	Amount	% (1)	Amount	% (1)	Amount	%
Net sales	$1,019,531	100.0%	$964,538	100.0%	$54,993	5.7%
Cost of sales	444,368	43.6	426,632	44.2	(17,736)	(4.2)
Gross profit	575,163	56.4	537,906	55.8	37,257	6.9
Selling, general, and administrative expenses	419,862	41.2	372,619	38.7	(47,243)	(12.7)
Income from operations	155,301	15.2	165,287	17.1	(9,986)	(6.0)
Total other income, net	(13,749)	(1.3)	(17,779)	(1.9)	(4,030)	(22.7)
Income before income taxes	169,050	16.6	183,066	19.0	(14,016)	(7.7)
Income tax expense

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Held by

holders ( registered funds via N-PORT, institutional investors via 13F). Showing top by dollar value.

Holder	Type	ETF	MF	Position ($)	% of holder	Δ % of holder	Holder AUM

Next expected filings

~2026-10-30 10-Q expected by 2026-11-06 (in 75 days)
~2027-02-02 10-Q expected by 2027-02-09 (in 170 days)
~2027-05-21 10-K expected by 2027-05-25 (in 278 days)
~2027-07-29 10-Q expected by 2027-08-05 (in 347 days)

Predicted from historical filing cadence; not an SEC commitment.

Recent SEC filings

2026-07-30 10-Q Quarterly Report
2026-07-24 DEF 14A Proxy Statement
2026-07-23 8-K Earnings Release
2026-05-22 10-K Annual Report
2026-05-21 8-K Earnings Release; Financial Statements and Exhibits
2026-02-03 10-Q Quarterly Report
2026-01-29 8-K Earnings Release; Financial Statements and Exhibits
2025-10-31 10-Q Quarterly Report
2025-10-23 8-K Earnings Release; Financial Statements and Exhibits
2025-07-31 10-Q Quarterly Report
2025-07-24 8-K Earnings Release; Regulation FD Disclosure; Financial Statements and Exhibits
2025-05-23 10-K Annual Report
2025-05-22 8-K Earnings Release; Officer/Director Change; Regulation FD Disclosure; Financial Statements and Exhibits
2025-02-03 10-Q Quarterly Report
2025-01-30 8-K Earnings Release; Financial Statements and Exhibits

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