# Deckers Brands (DECK) Q1 2026 Financial Results Summary
Goleta, California (July 24, 2025) — Deckers Brands (NYSE: DECK) announced its financial results for the first quarter of fiscal year 2026, which ended on June 30, 2025. Below is a summary of the key financial metrics and changes compared to the same period last year.
## Financial Highlights
– **Net Sales**
– Increased **16.9%** to **$964.5 million** from **$825.3 million**.
– On a constant currency basis, net sales increased **16.3%**.
– **Brand Performance**
– **HOKA® Brand**: Net sales grew **19.8%** to **$653.1 million** from **$545.2 million**.
– **UGG® Brand**: Net sales rose **18.9%** to **$265.1 million** from **$223.0 million**.
– **Other Brands**: Net sales decreased **19.0%** to **$46.3 million** from **$57.2 million**.
– **Sales Channels**
– **Wholesale Net Sales**: Increased **26.7%** to **$652.4 million** from **$514.8 million**.
– **Direct-to-Consumer (DTC) Net Sales**: Increased **0.5%** to **$312.2 million** from **$310.6 million**; however, DTC comparable net sales decreased **2.2%**.
– **Geographic Performance**
– **Domestic Net Sales**: Decreased **2.8%** to **$501.3 million** from **$515.9 million**.
– **International Net Sales**: Increased **49.7%** to **$463.3 million** from **$309.5 million**.
– **Gross Margin**:
– Reported at **55.8%**, a decrease from **56.9%**.
– **Operating Income**:
– Increased to **$165.3 million** from **$132.8 million**.
– **SG&A Expenses**:
– Rose to **$372.6 million** from **$337.2 million**.
– **Diluted Earnings Per Share (EPS)**:
– Increased **24%** to **$0.93** from **$0.75** (adjusted for a six-for-one stock split).
## Balance Sheet Highlights (As of June 30, 2025)
– **Cash and Cash Equivalents**: Increased to **$1.720 billion** from **$1.438 billion**.
– **Inventories**: Increased to **$849.4 million** from **$753.3 million**.
– **Outstanding Borrowings**: The Company had **no outstanding borrowings**.
## Capital Allocation
– The Company repurchased approximately **1.7 million shares** of its common stock for a total of **$183.0 million** at a weighted average price of **$109.84** per share.
– As of July 10, 2025, the Company had approximately **$2.4 billion** remaining under its stock repurchase authorization.
## Second Quarter Fiscal 2026 Outlook
For the upcoming second quarter (ending September 30, 2025), Deckers Brands expects:
– **Net Sales**: Projected to be in the range of **$1.38 billion** to **$1.42 billion**.
– **Diluted EPS**: Expected to be in the range of **$1.50** to **$1.55**.
– Note: The diluted EPS guidance excludes any impact from additional share repurchase.
## Summary
Deckers Brands reported solid financial performance in the first quarter of FY 2026, with notable increases in revenue and EPS, attributed mainly to strong sales from its HOKA and UGG brands. Despite facing challenges in specific areas like domestic sales and overall gross margin, the company remains optimistic about its long-term growth strategies and continues to invest in its stock repurchase program for shareholder value.
Here are the extracted tables from the press release:
### CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
*(dollar and share data amounts in thousands, except per share data)*
| June 30, 2025 | June 30, 2024 | |
|---|---|---|
| Net sales | $ 964,538 | $ 825,347 |
| Cost of sales | $ 426,632 | $ 355,347 |
| Gross profit | $ 537,906 | $ 470,000 |
| Selling, general, and administrative expenses | $ 372,619 | $ 337,193 |
| Income from operations | $ 165,287 | $ 132,807 |
| Total other income, net | $ -17,779 | $ -16,346 |
| Income before income taxes | $ 183,066 | $ 149,153 |
| Income tax expense | $ 43,863 | $ 33,528 |
| Net income | $ 139,203 | $ 115,625 |
| Total other comprehensive loss, net of tax | $ -8,435 | $ -3,800 |
| Comprehensive income | $ 130,768 | $ 111,825 |
| Net income per share | ||
| Basic | $ 0.93 | $ 0.76 |
| Diluted | $ 0.93 | $ 0.75 |
| Weighted-average common shares outstanding | ||
| Basic | 149,344 | 152,867 |
| Diluted | 149,635 | 153,483 |
—
### CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
*(dollar amounts in thousands)*
| June 30, 2025 | March 31, 2025 | |
|---|---|---|
| ASSETS | -AUDITED | |
| Current assets | ||
| Cash and cash equivalents | $ 1,720,416 | $ 1,889,188 |
| Trade accounts receivable, net | $ 376,474 | $ 332,872 |
| Inventories | $ 849,351 | $ 495,226 |
| Other current assets | $ 128,587 | $ 143,189 |
| Total current assets | $ 3,074,828 | $ 2,860,475 |
| Property and equipment, net | $ 332,311 | $ 325,599 |
| Operating lease assets | $ 269,248 | $ 237,352 |
| Other noncurrent assets | $ 162,884 | $ 146,826 |
| Total assets | $ 3,839,271 | $ 3,570,252 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Trade accounts payable | $ 732,881 | $ 417,955 |
| Operating lease liabilities | $ 65,254 | $ 54,453 |
| Other current liabilities | $ 248,861 | $ 297,533 |
| Total current liabilities | $ 1,046,996 | $ 769,941 |
| Long-term operating lease liabilities | $ 246,817 | $ 222,522 |
| Other long-term liabilities | $ 77,979 | $ 64,776 |
| Total long-term liabilities | $ 324,796 | $ 287,298 |
| Total stockholders’ equity | $ 2,467,479 | $ 2,513,013 |
| Total liabilities and stockholders’ equity | $ 3,839,271 | $ 3,570,252 |
