Deckers beats profit estimates on direct-to-consumer strength, lifts annual forecast

It earned a quarterly profit of 94 cents per share in the quarter ended June 30, compared with analysts' estimates of 87 cents per share.

Sales for the quarter increased 5.7% to $1.02 billion.

Deckers Outdoor has continued to gain market share in the athletic footwear market, as larger rivals such as Nike NKE.N grapple with softer demand for legacy sneaker lines including Dunk and Air Jordan.

The company expects earnings per share between $7.35 and $7.50 for fiscal year 2027, compared with its previous forecast of $7.30 to $7.45.

Sales at its Hoka brand rose 7.7% during the first quarter, while sales at the UGG brand increased 4.9%.

The company's first-quarter direct-to-consumer net sales increased 8.4% compared to 0.5% last year.

Deckers Outdoor on Thursday beat Wall Street estimates for first-quarter profit and raised its annual earnings forecast, as demand for its Hoka and UGG footwear brands and growth in its higher-margin direct-to-consumer business boosted profitability.