Deckers Outdoor Corporation (DECK)

In January 2025, DECK shares plunged nearly 20% despite strong earnings, due to investor concerns about demand trends. In February 2025, Citigroup upgraded Deckers Outdoor from Neutral to Buy. In May 2025, Evercore ISI Group, Telsey Advisory Group, and Keybanc downgraded their outlooks. In June 2025, Argus Research initiated coverage with a Hold recommendation, and shares lost 45.4% year-to-date. In July 2025, Goldman Sachs initiated coverage with a Sell recommendation, and the stock price was $101.91, a 29.82% decline over the past year.

Demand for Deckers' products, especially UGG, exhibits seasonality with higher demand during colder months. The company stockpiles inventory ahead of peak seasons. Strong demand for UGG's key styles fueled a 16% year-over-year increase in Q3 FY2025. The diversified brand portfolio, including HOKA and Teva, helps balance seasonal fluctuations, but reliance on fashion-driven products can impact demand.

Deckers Outdoor Corporation, founded in 1973 and based in Goleta, California, designs, markets, and distributes footwear, apparel, and accessories. Its major brands include UGG (51% of fiscal 2025 sales), HOKA (45% of fiscal 2025 sales), Teva, Sanuk, Koolaburra by UGG, and AHNU. Deckers sells its products through retailers, distributors, e-commerce websites, and company-operated retail stores.

Deckers Outdoor Corporation has an international presence in North America, Europe, and Asia-Pacific, with 64% to 67% of revenue generated in the United States. International sales contributed 33.2% to fiscal year 2024 revenue. The company operates retail stores in countries including Austria, Switzerland, Belgium, Canada, China, France, Germany, Hong Kong, Indonesia, Italy, Japan, the Netherlands, the UK, the US, and Vietnam. As of March 31, 2024, Deckers operated e-commerce websites in 56 countries and managed 164 retail stores globally, including 26 HOKA-branded locations.

Deckers Outdoor Corp. maintains a strong brand reputation through innovation, comfort, and brand loyalty, particularly for UGG and HOKA. In fiscal year 2025, Deckers achieved record revenue, with HOKA and UGG showing significant growth. HOKA launched its 2025 Global Brand Campaign, and UGG introduced a new silhouette. Wholesale business growth and sustainability initiatives also positively influenced brand perception.

Deckers Outdoor Corporation has a diverse ownership structure, including institutional, insider, and retail investors. As of July 18, 2025, there are 1,707 institutional owners and shareholders holding 167,712,480 shares. Major institutional owners include Fmr LLC (15.23%), Vanguard Group Inc. (11.88%), BlackRock, Inc. (10.33%), State Street Corp (4.46%), and Geode Capital Management, Llc (2.89%). Individual insider ownership is approximately 0.64%.