Financial Data and Key Metrics Changes - For the third quarter, the company reported revenue of $1.96 billion, a 7% increase compared to the prior year [7][31] - Gross margin for the quarter was 59.8%, better than expected due to lower-than-anticipated tariff impacts and effective pricing actions [32] - Diluted earnings per share reached a record $3.33, representing an 11% increase year-over-year [9][33] Business Line Data and Key Metrics Changes - HOKA revenue increased by 18% to $629 million, driven by strong performance in both DTC and wholesale channels [17][31] - UGG revenue grew by 5% to a record $1.3 billion, benefiting from improved global DTC performance [10][31] - DTC revenue for UGG increased by 5%, while wholesale revenue grew by 4% [12] Market Data and Key Metrics Changes - International markets saw a 15% revenue increase for HOKA and UGG combined, while the U.S. market grew by 5% [8] - HOKA's market share in the U.S. road running category increased significantly, indicating strong brand performance [21] Company Strategy and Development Direction - The company aims for continued international expansion and brand performance, focusing on consumer demand and product development [4][29] - Strategic initiatives include enhancing the DTC channel and maintaining a balanced approach between DTC and wholesale [20][29] - The company is committed to returning value to shareholders through a share repurchase program, with plans to repurchase over $1 billion in total by the end of the fiscal year [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth momentum for both UGG and HOKA, supported by effective marketplace management and innovative products [29][43] - The company anticipates continued growth in FY 2027 for both brands, driven by strong consumer demand [71] Other Important Information - The company has approximately $1.8 billion remaining authorized for share repurchases [34] - The expected net tariff impact for fiscal year 2026 is approximately $25 million, reflecting robust pricing power [38] Q&A Session Summary Question: What has driven the improvement in HOKA's business this quarter? - Management noted that strategic spacing of product launches and better inventory management contributed to the improvement, with confidence in sustainability going forward [48][49] Question: Can you elaborate on the lifestyle segment and its growth potential? - The company sees significant opportunities in the lifestyle category, with positive early reads on new products and a focus on effective market segmentation [52][53] Question: How will the UGG brand be managed across wholesale and DTC channels in FY 2027? - Management indicated a balanced growth strategy across all channels, with continued segmentation and differentiation in the marketplace [58][59] Question: What is the outlook for the U.S. consumer and its impact on growth? - Management remains optimistic about the brands' performance, noting strong consumer demand despite previous caution regarding the economy [82]

Deckers Outdoor Corp. (NYSE:DECK) shares slipped in Thursday's extended trading after the company released its third-quarter earnings report, beating estimates on the top and bottom lines. Here's a look at the key figures from the quarter. DECK stock is moving. Watch the price action here.The Details: Deckers Outdoor reported quarterly earnings of $3.33 per share, which beat the Street estimate of $2.80 by 18.89%, according to Benzinga Pro.Quarterly revenue came in at $1.96 billion, which beat the analyst c ...

Core Insights - The footwear and apparel company reported a 19% increase in Hoka sales, indicating strong demand for this brand [1] - Ugg sales experienced a modest rise of 4.9%, reflecting stable performance in this segment [1] - However, the company's other brands faced a significant decline in sales, dropping by 56%, which raises concerns about their market performance [1]

Exhibit 99.1 DECKERS BRANDS REPORTS THIRD QUARTER FISCAL YEAR 2026 FINANCIAL RESULTS Goleta, California (January 29, 2026) -- Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced financial results for the third fiscal quarter ended December 31, 2025. The Company also provided an update to its financial outlook for the full fiscal year ending March 31, 2026. "Deckers produced record revenue and earnings per share ...

To launch the new Cielo X1 3.0, the Speed of Light campaign celebrates the electricity of momentum and features HOKA product team members, Ari Hendrix-Roach and Brandon Johnson, who contributed to the development of the shoe. Both accomplished athletes and Olympic Trials qualifiers themselves; their inclusion in the campaign reflects HOKA's ethos as a brand built by runners, for runners. To celebrate the launch, run clubs around the world will unite to experience the Speed of Light and the debut of the Ciel ...

Investment Performance - Greenlight Capital's Partnership returned 9.0% (net) in 2025, compared to 17.9% for the S&P 500 index, and 8.5% in Q4 versus 2.7% for the index [1] - Since its inception in May 1996, the Partnership has returned $6.1 billion, net of fees and expenses, to its investors [1] Company Overview: Deckers Outdoor Corporation - Deckers Outdoor Corporation (NYSE:DECK) operates footwear, apparel, and accessories brands, including Hoka and UGG [2][3] - As of January 28, 2026, DECK stock closed at $97.62 per share, with a market capitalization of $14.481 billion [2] Stock Performance and Challenges - Deckers Outdoor Corporation's stock experienced a one-month return of -5.85% and a 52-week decline of 56.25% [2] - The stock decline was attributed to disappointing results early in 2025, influenced by tariff uncertainty, a warehouse transition in Europe, and warm weather affecting UGG sales [3] Future Outlook - Greenlight Capital expects growth to re-accelerate for Deckers as Hoka expands internationally and anticipates the company will utilize its strong balance sheet, with net cash equal to roughly 9% of its market capitalization, to increase stock repurchases [3] - Greenlight Capital acquired DECK shares at an average price of $85.49, with the stock ending the quarter at $103.67 [3] Hedge Fund Interest - Deckers Outdoor Corporation was held by 62 hedge fund portfolios at the end of Q3, an increase from 59 in the previous quarter [4] - Despite acknowledging Deckers' potential, Greenlight Capital suggests that certain AI stocks may offer greater upside potential and less downside risk [4]

Core Viewpoint - Deckers Outdoor Corporation is preparing to release its quarterly earnings on January 29, 2026, with expectations of a slight revenue increase despite a projected decline in earnings per share (EPS) [1][2][3]. Financial Projections - Analysts project Deckers' EPS to be $2.72, while Zacks Investment Research anticipates a slightly higher EPS of $2.77, despite a year-over-year decline of 7.7% [2][6]. - Revenue is expected to reach approximately $1.87 billion, marking a 2.6% increase from the same quarter last year [3][6]. Financial Metrics - Deckers' financial metrics include a price-to-earnings (P/E) ratio of 14.25 and a price-to-sales ratio of 2.76 [4][6]. - The enterprise value to sales ratio is 2.56, and the enterprise value to operating cash flow ratio is 12.57, indicating the company's valuation and profitability [4]. - The company maintains a debt-to-equity ratio of 0.14, reflecting a low level of debt compared to equity, and a current ratio of 3.07, suggesting strong liquidity [5]. Market Sentiment - The downward revision of the consensus EPS estimate by 0.2% over the past 30 days may signal potential investor actions and influence short-term stock performance [3]. - As the earnings report approaches, investors are keen to see if Deckers can exceed expectations and how this will affect its stock price [5].

Core Viewpoint - Analysts expect Deckers (DECK) to report quarterly earnings of $2.77 per share, reflecting a year-over-year decline of 7.7%, with revenues projected at $1.87 billion, an increase of 2.6% from the previous year [1] Earnings Estimates - The consensus EPS estimate has been revised down by 0.2% in the last 30 days, indicating a reassessment by covering analysts [1][2] - Revisions to earnings estimates are significant indicators for predicting investor actions regarding the stock [2] Revenue Projections - Analysts project 'Net Sales by brand- HOKA brand wholesale- Total' to be $587.89 million, representing a year-over-year increase of 10.7% [4] - 'Net Sales by brand- Other brands wholesale- Total' is expected to reach $35.96 million, indicating a change of 28.4% from the prior year [4] - 'Net Sales by brand- UGG brand wholesale- Total' is estimated at $1.26 billion, reflecting a 0.9% increase year-over-year [5] - 'Net Sales by brand- HOKA brand wholesale- Wholesale' is projected at $341.37 million, showing an 11.8% increase [5] - 'Net Sales by brand- UGG brand wholesale- Direct-to-Consumer' is expected to be $752.98 million, indicating a decline of 3% [6] - 'Net Sales by brand- HOKA brand wholesale- Direct-to-Consumer' is projected at $245.11 million, reflecting an 8.6% increase [6] - 'Net Sales by brand- UGG brand wholesale- Wholesale' is estimated at $509.91 million, indicating a 9% increase [7] - 'Net Sales by brand- Other brands wholesale- Direct-to-Consumer' is expected to reach $7.32 million, reflecting a significant increase of 71.5% [7] - 'Net Sales by brand- Other brands wholesale- Wholesale' is projected at $32.17 million, indicating a 35.5% increase [8] - 'Net Sales by location- International' is expected to be $714.45 million, reflecting an 8.6% increase [8] - 'Net Sales by location- Domestic' is projected at $1.17 billion, indicating a slight increase of 0.1% [9] Stock Performance - Over the past month, Deckers shares have declined by 3%, while the Zacks S&P 500 composite has increased by 0.2% [9] - Deckers holds a Zacks Rank 3 (Hold), suggesting that its performance will likely align with the overall market in the upcoming period [9]

Core Viewpoint - Musinsa is in discussions to acquire the local distribution rights for Hoka, indicating a strategic move to enhance its market presence in South Korea [1] Group 1: Musinsa's Interest and Strategy - Musinsa is seeking to handle the import and distribution of Hoka within South Korea, aligning with its broader expansion strategy [1][5] - The company has previously established a presence in the Chinese market through a joint venture with Anta Sports, indicating its ambition for growth in both online and offline retail channels [5] Group 2: Competition for Distribution Rights - Other major fashion companies, including Shinsegae International and LF Corp, are also interested in acquiring the distribution rights for Hoka, highlighting the competitive landscape in the domestic market [2][7] Group 3: Current Distribution Issues - Hoka's current distribution in South Korea, managed by Joyworks & Co, is under scrutiny due to allegations of misconduct by its CEO, which may prompt Deckers to reconsider its local strategy [3][6] Group 4: Demand for Hoka Footwear - There is a growing demand for Hoka's footwear in South Korea, driven by an increase in outdoor activities and running, appealing to both performance-focused consumers and lifestyle shoppers [4][8]

Core Insights - Investors are adopting a bearish stance towards Deckers Outdoor, indicating potential significant market movements ahead [1] - The options activity shows a divided sentiment among investors, with 60% bearish and 20% bullish [2] Options Activity - There has been notable options activity for Deckers Outdoor, with 10 extraordinary options trades identified, including 2 puts totaling $56,200 and 8 calls amounting to $715,116 [2] - The mean open interest for Deckers Outdoor options trades is 458.83, with a total volume of 1,349.00 [4] Price Targets - Major market movers are focusing on a price range between $80.0 and $120.0 for Deckers Outdoor over the last three months [3] - Recent analyst ratings suggest an average target price of $110.5, with varying opinions from different analysts [9] Company Overview - Deckers Outdoor, founded in 1973, specializes in casual and performance footwear, apparel, and accessories, with Ugg and Hoka accounting for 51% and 45% of total sales in fiscal 2025 [8] - The company generates 64% of its sales in the United States and operates e-commerce in over 50 countries [8] Current Market Position - Deckers Outdoor's stock is currently trading at $102.27, down by 1.02%, with an anticipated earnings release in 7 days [10] - Analysts have varied ratings, with one downgrading to Underweight with a target of $85, while another maintains a Buy rating with a target of $130 [10]