Key Takeaways DECK grows HOKA and UGG globally but faces margin pressure from tariffs, freight and higher costs. UAA strengthens margins with premium pricing, supply-chain savings and strong EMEA market growth. DECK navigates softer U.S. DTC sales, while UAA's loyalty program boosts DTC with above 28M active members.Deckers Outdoor Corporation (DECK) and Under Armour, Inc. (UAA) are prominent players in the footwear and athletic apparel industry. While Deckers continues to gain significant traction with g ...

Core Insights - Deckers Outdoor Corporation's performance is primarily driven by strong consumer demand for its flagship brands, HOKA and UGG, with year-over-year sales growth of 10% and 3.6% respectively in Q4 FY25 [1][9] Brand Performance - HOKA's sales reached $2.2 billion in FY25, reflecting a 23.6% year-over-year increase, supported by new product launches and international expansion, particularly in EMEA and China [4][2] - UGG generated $2.5 billion in sales for FY25, marking a 13.1% year-over-year growth, with a focus on expanding its product line beyond cold-weather offerings [4][3] International Growth - HOKA's international revenues grew by 39% year-over-year, now accounting for 34% of total brand sales, while UGG's international revenues increased by 20%, representing 39% of total sales [4][2] Competitive Landscape - Key competitors in brand innovation include Wolverine World Wide, Inc. and Urban Outfitters Inc., with Wolverine's Saucony and Merrell brands showing strong revenue growth [5][6] - Urban Outfitters' brand portfolio also demonstrated positive performance, with notable increases in net sales for its brands [7] Financial Performance and Valuation - Deckers' shares have declined by 50% year-to-date, compared to a 17.6% decline in the industry [8] - The company trades at a forward price-to-earnings ratio of 16.45X, slightly below the industry's average of 17.01X [10] - Zacks Consensus Estimate indicates a projected earnings decline of 4.4% for FY26, with a potential recovery of 9.1% in FY27 [11]

智通财经记者 | 覃思悦 而B1层除了展示越野产品，还有跑团更衣间、会员服务台以及品牌历史陈列墙等体验空间。B1层的最 深处设置有HOKA"飞跑研究所"，提供基础、进阶、巅峰等多维度的运动体测服务，以精准评估不同水 平跑者的运动状况，全面监测跑者的身体成分、足踝功能、跑步模式、肌肉与神经能力以及心肺功能。 这样的功能区设置非常大胆，毕竟对于一家1600平米且位于上海核心商圈的门店来说，高成本要求门店 必须实现极高的营业额才能覆盖开支。此外，大型门店的能耗、人力及维护成本也显著高于中小型门 店。再加上体验区的用户转化需要较长周期，短期内坪效是很大挑战。对于这一点，HOKA中国事业部 总经理吴萧至少表现得不焦虑。 她谈到，比起门店，HOKA内部更愿意用"平台"来称呼这家品牌体验中心，"我们希望让跑者感觉到这 是跑者的平台、社区的平台。B1层的跑者活动每周都不会停，每周都不重样，这是我们给到消费者的 期待。另外我们希望给到一个运动服务的平台，测试你的身体。据我们了解，能够一站式面向消费者开 放的全链路体验，HOKA一定是在前列的。" 智通财经编辑 | 任雪松 跑鞋品牌HOKA ONE ONE（下简称"HOKA"）想 ...

这是新消费智库第 2 6 2 4 期文章 新消费导读 1. 甘源推出两种全新风味坚果 新消费 1. 甘源推出两种全新风味坚果 近日， J immy Choo 与 Malbon 再度推出高尔夫联名限定系列，最新系列巧妙融合 Malbon 在高尔夫休闲服饰领域的经典美学与 J immy Choo 标志性的奢华格调，并在第一代成功合作基础上全新升级 。 （ TOPBRAND ） 2. DQ 推出 0 蔗糖减脂酸奶冰淇淋碗 3. J immy Choo 联手 Malbon 发布高尔夫联名系列 4. HOKA CLIFTON 10 跑鞋正式发布 5. 李子园推出 AD 钙奶 6. 中粮包装今日正式从港交所退市 7. Happy Howl 获得种子轮融资 8. 百合股份拟收购新西兰 Ora 56% 股权 9. 女性健康品牌 Moom Health 获融资 10. Argand Partner s 收购舞蹈服饰品牌 Capez io 母公司 11. BOSS 官宣崔胜哲为全球品牌代言人 12. 24 小时无人健身空间 The Gym Pod 登陆香港 13. 紫燕食品在长沙成立新餐饮公司 14. Blue Bottle C ...