Financial Data and Key Metrics Changes - The company reported total revenue of $965 million, a 17% increase compared to the previous year [8][31] - Diluted earnings per share rose 24% to $0.93 from $0.75 in the prior year [8][31] - Gross margin decreased to 55.8%, down 110 basis points from 56.9% last year [31] Business Line Data and Key Metrics Changes - HOKA's global revenue increased 20% to $653 million, with wholesale up 30% and DTC up 3% [10][23] - UGG's global revenue rose 19% to $265 million, with wholesale increasing 30% while DTC decreased by 1% [23][24] Market Data and Key Metrics Changes - International revenue for Deckers increased by 50%, significantly contributing to overall growth [8] - EMEA and China were the largest contributors to international growth for both HOKA and UGG [11][24] Company Strategy and Development Direction - The company focuses on building premium brands through authenticity, innovation, and purpose [9] - HOKA aims to enhance its market presence through strategic retail expansions and improved consumer experiences [15][63] - UGG is leveraging its three sixty-five initiative to drive year-round sales, particularly in men's footwear and sandals [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and emphasized the importance of brand strength [30][42] - The company is cautious about consumer reactions to price increases and tariffs but remains optimistic about brand momentum [42][66] Other Important Information - The company repurchased approximately $183 million worth of shares during the first quarter [35] - The company ended the quarter with $1.7 billion in cash and equivalents, with no outstanding borrowings [35] Q&A Session Summary Question: HOKA's second quarter guidance and inventory status - Management indicated that HOKA is expected to grow 10% in Q2, with improvements in both wholesale and DTC channels [48][50] - Inventory for older models like Bondi Eight and Clifton Nine is largely cleared, with positive performance for Arahi Eight [51] Question: DTC growth and retail strategy - Management confirmed expectations for balanced growth between wholesale and DTC, with improvements anticipated in the U.S. market [60][62] - The company plans to expand its retail footprint, with new stores opening in key international markets [63] Question: Price increase strategy - The company is implementing selective price increases, with some products seeing increases of around $5 [71][75] - Price adjustments will be evaluated based on tariff impacts and consumer response [75] Question: HOKA's international performance and growth drivers - International growth is driven by strong sell-through rates and new distribution partnerships [91] - Management remains optimistic about healthy order books for the upcoming seasons [92] Question: SG&A outlook and spending control - SG&A expenses are expected to increase due to investments in brand building and marketing [94] - The company will manage expenses efficiently while continuing to invest in growth initiatives [96]