Deckers Brands (NYSE: DECK) reported fourth-quarter fiscal 2026 net sales of $1.119 billion on May 21, a 9.6% year-over-year increase that pushed the Goleta, California-based footwear group to a record full-year revenue of $5.472 billion. The Deckers Brands Q4 2026 earnings beat Wall Street forecasts on both the top and bottom lines, fueled by the largest quarter in Hoka‘s history and continued demand for UGG outside its traditional winter category.
Analysts had projected Q4 net sales between $1.07 billion and $1.11 billion, with earnings per share in a $0.73 to $0.94 range. Deckers delivered $0.96 per diluted share. Full-year net sales rose 9.8% from $4.986 billion in FY2025, according to the company’s official press release.
Hoka Posts Largest Quarter in Brand History
Hoka recorded Q4 net sales of $671.2 million, up 14.5% from $586.1 million in the prior-year quarter. It is the single largest revenue quarter in the brand’s history. For the full fiscal year, Hoka generated $2.587 billion in net sales, a 15.9% increase over FY2025’s $2.233 billion.
The performance running brand has steadily expanded beyond its core endurance audience into lifestyle and fashion segments, with chunky silhouettes such as the Bondi and Clifton now appearing in streetwear contexts that previously belonged to retro runners. Hoka continues to take market share from incumbent athletic footwear brands, mirroring the dynamic seen in On x Loewe LightSpray Cloudmonster launches and other premium performance crossovers. International demand for Hoka was particularly strong, executives said.
UGG Maintains Momentum With 8.2% Full-Year Growth
UGG reported Q4 net sales of $408.6 million, up 9.2% from $374.3 million a year earlier. Full-year UGG net sales reached $2.739 billion, an 8.2% increase from $2.531 billion. Despite Hoka’s faster growth rate, UGG remains Deckers’ largest brand by annual revenue.
The brand has continued to widen its product range, drawing buyers well outside its traditional shearling boot category. Slippers, platform clogs, and warm-weather sandals have helped UGG sustain growth into a non-winter shoulder season — a category extension that aligns with broader shifts seen in 2026’s footwear trend landscape and the the wedge sandal revival.
Direct-to-Consumer and International Sales Accelerate
Channel and geographic data showed acceleration outside the United States and outside wholesale partners. Q4 figures included:
- Direct-to-consumer: $464.4 million, up 13.2% year-over-year
- Wholesale: $654.9 million, up 7.1%
- International: $469.5 million, up 25.5%
- Domestic: $649.8 million, up 0.3%
The 25-percentage-point gap between international and domestic growth highlights how much of Deckers’ upside is now coming from markets outside North America. The DTC acceleration also reduces dependence on third-party retailers, a margin lever the company has pursued for several years.
Smaller Brands Weigh on Portfolio Results
The “other brands” segment, which now houses Teva and remaining smaller labels, posted Q4 net sales of $39.5 million, down 35.6% from $61.3 million. Full-year other brands revenue fell 33.9% to $146.2 million from $221.2 million.
The decline reflects deliberate portfolio actions rather than weakening demand. Deckers has phased out the Koolaburra brand and completed the sale of Sanuk, narrowing its focus to its two billion-dollar performers. The strategy echoes consolidation moves elsewhere in fashion, including Everlane’s acquisition by Shein, as portfolio owners concentrate resources on highest-return assets.
Executive Commentary and FY2027 Guidance
President and CEO Stefano Caroti credited the dual-engine model.
“Fiscal 2026 was another record year for Deckers, with revenue and earnings growth powered by the continued momentum of HOKA and the enduring strength of UGG.” — Stefano Caroti, President and CEO, Deckers Brands
CFO Steve Fasching pointed to margin discipline. “Our fiscal 2026 results reflect another year of exceptional performance, with record revenue, industry-leading operating margins, and double-digit earnings per share growth,” Fasching said. Deckers reported a full-year gross margin of 57.7% and diluted EPS of $7.02, up from $6.33 in FY2025.
For fiscal 2027, Deckers guided to net sales of $5.86 billion to $5.91 billion and diluted EPS of $7.30 to $7.45. The forecast implies mid-single-digit revenue growth and assumes continued Hoka product innovation alongside UGG’s category expansion. The results land in a season of strong fashion-sector reports, with Ralph Lauren posted record $8 billion in FY2026 revenue and Burberry’s return to profit in FY2026 indicating broader premium-segment resilience.
The performance footwear category remains contested. While Hoka and On Holding continue to gain share, Nike has reported softer recent sales, a competitive dynamic also visible in releases like Nike’s athlete sneaker releases and the broader premium-collab market exemplified by the JW Anderson x Diadora sneaker collaboration. Consumer spending data from eBay’s 2026 luxury fashion resale report suggests buyers continue to prioritize differentiated, brand-led product over generic athletic offerings.
Deckers stock trades on the New York Stock Exchange under the ticker DECK. Full historical filings and quarterly reports are available through the company’s investor relations site.
