Deckers Brands CFO Steve Fasching reported that fiscal year 2025 was Deckers’ fifth consecutive year of double-digit revenue and earnings per share growth, with respective compound annual growth rates of 19 percent and 32 percent over the five-year period.

“We will remain nimble and disciplined as we navigate near-term uncertainty, while actively investing in our strategic long-term growth opportunities,” he commented in a Thursday, May 22 earnings release. “Importantly, Deckers remains capable of returning compelling value to shareholders, supported by $1.9 billion in cash on hand, sustainable cash flow generation, and our increased share repurchase authorization that now totals $2.5 billion.”

While everything looked solid at the start, the fact the company pulled guidance, and a new Board chair was appointed, and the company’s DTC channel declined in the quarter, may not have been not received well by investors. But the big metric that may have caused some nervousness is the relatively weak growth trend for the Hoka brand, which grew 10 percent in a historically important quarter for the run footwear category.

Shares fell double digits after earnings hit last quarter when the Hoka trend came in with 17 percent growth. This quarter, DECK shares fell more than 15 percent in after-market trading on Thursday after closing the day up 2.2 percent to $126.09 and opened on Friday with shares down more than 20 percent.

Fiscal 2025 Fourth Quarter
Net sales increased 6.5 percent to $1.02 billion in the fiscal fourth quarter ended March 31, 2025, compared to $959.8 million in the prior-year Q4 period. On a constant-currency (cc) basis, net sales increased 7.5 percent year-over-year (y/y).

  • Ugg brand net sales increased 3.6 percent to $374.3 million in Q4, compared to $361.3 million in the prior-year Q4 period.
  • Hoka brand net sales increased 10.0 percent to $586.1 million in Q4, compared to $533.0 million in the prior-year Q4 period. That trend is down from 17.1 percent in Q3,
  • Other brands net sales decreased 6.3 percent to $61.3 million Q4, compared to $65.5 million in the prior-year Q4 period.

During the fourth quarter of fiscal year 2025, the company updated its reportable operating segments to better reflect changes in the way management evaluates performance, makes operating decisions, and allocates resources.

Outlook
Given the macroeconomic uncertainty related to evolving global trade policies, the company said it will not be providing full-year guidance for fiscal year 2026 at this time. While the company does not intend to provide quarterly guidance on a regular basis, the following represents management’s current outlook for the first 20026 fiscal quarter:

  • Net sales are expected to be in the range of $890 million to $910 million.
  • Diluted earnings per share is expected to be in the range of 62 cents to 67 cents per share.
  • 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 May 22, 2025, and is subject to significant risks and uncertainties that limit our ability to accurately forecast results.

Image courtesy Hoka/Deckers Brands

See below for additional SGB Executive coverage of Deckers and details on Hoka and Ugg for the quarter and full year:

EXEC: Deckers Shares Plunge on Weaker Hoka Growth in Q4 and Q1 Guide Miss