Deckers Outdoor

Q1 FY2027 EarningsQ1 FY27 results marginally exceeded top-line and EPS consensus, with revenue of $1,019.5M vs. $1,018.0M expected and Diluted EPS of $0.94 vs. $0.88 expected. HOKA remains the primary growth engine, up 7.7% YoY, while UGG grew 4.9%. Gross margin of 56.4% significantly beat the 54.4% consensus, driven by DTC channel mix and full-price selling. Although operating margin compressed 190bps YoY due to aggressive IT and HOKA marketing spend, heavy stock repurchases of $338M supported the EPS beat.