Deckers Q2 Sales Rise 3.5% to $1.48 Billion; EPS $2.31; HOKA Outlook Cut as Full-Year Sales Guidance Lowered to About $5.7 Billion
GOLETA — Deckers Outdoor (NYSE: DECK), owner of HOKA and UGG, reported fiscal 2027 second-quarter results (for the quarter ended September 30, 2026) after the close on October 22. According to the company's official earnings release, net sales rose 3.5% to $1.481 billion (up 2.8% in constant currency). Net income was $313.1 million, or $2.31 per diluted share, versus $1.82 a year earlier. Gross margin was 60.5%, versus 56.2% a year earlier; operating income was $389.5 million, versus $326.5 million.
By brand, HOKA net sales rose 6.8% to $677.2 million and UGG rose 3.5% to $786.4 million, while other brands fell 54.3% to $17.0 million on the Koolaburra wind-down. Wholesale net sales rose 5.5% to $1.093 billion; direct-to-consumer net sales fell 1.8% to $387.5 million (comparable DTC down 6.4%). Domestic sales fell 0.4% to $835.8 million; international sales rose 9.0% to $644.7 million. Cash and cash equivalents ended the quarter at $1.210 billion, versus $1.414 billion a year earlier; the company repurchased about 3.2 million shares for $299.3 million during the quarter.
Results included a benefit from IEEPA tariff refunds of $46.0 million plus $3.0 million of interest, lifting gross margin by about 310 basis points and adding about $0.28 per share after tax; excluding it, EPS was about $2.03. The company updated its fiscal 2027 outlook, cutting net sales guidance from $5.86–$5.91 billion to about $5.700–$5.725 billion while raising diluted EPS guidance from $7.35–$7.50 to $7.80–$7.95 (including about $0.52 of tariff-refund benefit); HOKA's full-year growth expectation was cut from a low-double-digit percentage to a high single-digit percentage and UGG's from a mid-single-digit percentage to a low single-digit percentage. Reuters and other outlets reported that quarterly revenue missed the $1.51 billion analyst consensus and that the stock fell about 8% after hours.
CEO Stefano Caroti said in the release: "Deckers delivered another strong performance in the second quarter, with HOKA and UGG growing, margins exceeding expectations, and EPS up more than 30% over the prior year. While we face some headwinds in the U.S., international markets continue to grow at double-digit rates, and we are actively reshaping our portfolio to invest behind our most promising opportunities. Looking ahead, our strongest brands are positioned for long-term growth, and we remain confident in their long-term potential."
Published by GSM · USA (original Chinese edition)
Photo: 图：纽约市HOKA熨斗区门店。照片：Nielsoncaetanosalmeron，CC BY 4.0，经Wikimedia Commons。Photo: The HOKA Flatiron store in New York City. Photo: Nielsoncaetanosalmeron, CC BY 4.0, via Wikimedia Commons.
