Deckers Outdoor Corporation (DECK) SEC Filings & Earnings Calls

DTC comparable net sales declined 6.4%, indicating potential consumer demand weakness in direct channel.

“DTC comparable net sales decreased 6.4%.” · word for word

Tariff refund benefit of $0.28/share in Q2 and $0.52/share expected for FY27 is non-recurring; underlying profitability may be lower.

“Includes a $0.28 benefit related to IEEPA tariff net refunds received in the quarter.”

Increased debt capacity could lead to higher leverage if drawn; no material financial obligation created as facility remains undrawn.

“Funds provided under the Amended Credit Agreement will be used for working capital and general corporate purposes.” · word for word

Tariff impact on margins

“partially offset by the net impact of incremental tariffs on domestic goods sold” · word for word

Foreign currency remeasurement losses

“Increased net foreign currency-related remeasurement losses recorded in unallocated enterprise and shared brand expenses of approximately $5,800, primarily due to unfavorable changes in Asian, Canadian, and European foreign currency exchange rates against the US dollar.” · word for word

SG&A expense growth outpacing revenue growth may pressure margins.

“SG&A expenses increased 12.7% to $419.9M vs revenue growth of 5.7%.”

Operating income declined 6% despite revenue growth, indicating cost pressure.

“Operating income $155.3M vs $165.3M year-over-year.”

Koolaburra brand phase-out impacting Other brands and wholesale/domestic segments.

“Net sales declines related to phase-out of Koolaburra brand standalone operations.”

Tariff and trade policy risks cited in outlook assumptions.

“Outlook does not assume collection of refunds for tariffs previously paid; risks include changes to global trade policy.”

Sheepskin Supply Concentration

“Sheepskin is in high demand and sourced primarily from Australia and processed largely by two tanneries in China capable of meeting our quality, volume, and animal welfare standards.”

Geographic Manufacturing Concentration

“During fiscal year 2026 , production of our finished goods was predominantly from Vietnam and Indonesia, while less than 5% was from China or any other individual country.” · word for word

Consumer Preference Shifts

“The footwear, apparel, and accessories industry is subject to rapid changes in consumer preferences and fashion tastes, which makes it difficult to anticipate demand for our products and forecast our results of operations.” · word for word

Tariff and Trade Policy Risk

“Tariffs, duties, or other trade restrictions may be imposed, modified, or expanded with limited notice.” · word for word

Tariff impact on inventory; inventories include incremental tariffs.

“Inventories, including the impact of incremental tariffs, were $487.0 million compared to $495.2 million.” · word for word

Koolaburra phase-out and Sanuk sale impact other brands revenue (-35.6% in Q4).

“Other brands net sales decreased 35.6% to $39.5 million compared to $61.3 million.” · word for word

UGG Brand Seasonality and Demand Decline

“UGG brand net sales decreased 8.0% to $878.0 million for the three months ended December 31, 2025, compared to $954.0 million for the three months ended December 31, 2024.”

Other Brands Portfolio Rationalization

“Other brands net sales decreased 14.5% to $73.0 million for the three months ended December 31, 2025, compared to $85.4 million for the three months ended December 31, 2024.”

Tariff and trade policy risks; foreign currency fluctuations; supply chain disruption

“This outlook assumes no meaningful changes to the Company’s business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to: changes to global trade policy, including tariffs and trade restrictions; geopolitical tensions; and supply chain disruption.” · word for word

Tariff risk

“Gross margin decreased to 56.0% from 56.3% compared to the prior period, primarily due to ... incremental tariffs on US goods impacting the current fiscal quarter.” · word for word

DTC channel pressure

“Comparable DTC channel net sales for the 13 weeks ended September 28, 2025, decreased by 2.9%, compared to the prior period.” · word for word