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Deckers Lifts Outlook After Record Quarter as Hoka and Ugg Drive Stock Surge

Tariff headwinds looked smaller than feared as pricing and cost actions supported margins.

Overview

  • Deckers posted Q3 fiscal 2026 revenue of $1.96 billion and diluted EPS of $3.33, beating consensus estimates.
  • Ugg sales rose 4.9% to $1.31 billion and Hoka jumped 18.5% to $628.9 million, with high full‑price selling fueling a 59.8% gross margin.
  • Full‑year guidance increased to $5.40–$5.43 billion in sales and $6.80–$6.85 in EPS, with Hoka now guided to mid‑teens growth and Ugg to mid‑single digits.
  • International revenue grew 15% to $756.7 million versus 2.7% domestically, as management highlighted expansion opportunities in Europe and China.
  • Shares climbed roughly 10%–19% after the report, and the company said buybacks total $813.5 million year to date with more than $1 billion expected for the fiscal year, while analysts noted reduced tariff pressure and cautioned on sustaining Hoka’s rapid growth.