New York, January 30, 2026, 13:11 ET — Regular session
- Shares surged midday as Deckers boosted its full-year forecast after releasing quarterly results.
- Investors zeroed in on Hoka’s growth, strong full-price sales, and a tariff impact that turned out to be less severe than expected.
- Next to watch: if momentum can carry through the March 31 fiscal year-end when retailers adjust their orders.
Shares of Deckers Outdoor (DECK) jumped roughly 16% to $115.54 in early Friday afternoon trading, building on a strong post-earnings surge. The company behind Hoka running shoes and UGG boots climbed after delivering quarterly results and boosting its full-year outlook late Thursday.
This jump is significant as investors seek consumer brands able to maintain full-price sales amid increasingly selective shoppers. Footwear results have been mixed this season, with guidance often swaying stocks more than the actual earnings figures.
Deckers is also caught up in the ongoing tariff debates. These import duties can quickly eat into margins if brands fail to pass on higher costs to consumers.
Deckers has revised its forecast, now estimating the net tariff impact on fiscal 2026 earnings at about $25 million, significantly lower than the previous $55 million to $75 million range, according to Reuters. Dana Telsey of Telsey Advisory Group noted that investors will be watching for “sustained momentum across channels and brands” given ongoing macroeconomic uncertainty. Reuters also reports that Deckers trades at roughly 14.6 times projected earnings over the next 12 months, placing its forward price-to-earnings ratio close to the industry median. 1
Late Thursday, the company boosted its full-year sales forecast to between $5.40 billion and $5.42 billion and raised its earnings forecast to $6.80–$6.85 per share, Reuters reported. Third-quarter sales climbed 7% to $1.96 billion, surpassing analysts’ consensus of $1.87 billion. Earnings hit $3.33 per share, well above the expected $2.76, driven by stronger full-price sales. 2
Deckers reported third-quarter net sales climbed 7.1% to $1.958 billion, led by an 18.5% jump in Hoka revenue to $628.9 million and a 4.9% rise in UGG sales to $1.305 billion. Direct-to-consumer channels, including stores and websites, increased 8.1%, while wholesale grew 6.0%. International revenue surged 15.0%. CEO Stefano Caroti attributed the record revenue and earnings to “significant global demand for UGG and HOKA.” 3
As the stock dropped over the past year, Deckers ramped up buybacks. The company now projects fiscal 2026 share repurchases will top $1.0 billion.
The rally follows a tough run for Deckers. On Thursday, shares closed at $99.90, still down roughly 55% from their 52-week peak of $223.98, per MarketWatch data. Volume surged ahead of the earnings release, with 5.7 million shares traded, well above the 50-day average of around 3 million. 4
The jump isn’t a straightforward win. Gross margin dipped during the quarter, inventories climbed, and increased promotions across the sector might squeeze pricing power just as retailers gear up for spring orders.
Traders are now focused on what comes next: can Deckers maintain steady growth across both wholesale and direct channels? And will tariff calculations hold steady as brands tweak prices and shift sourcing strategies?
