Deckers Brands Reports Record $5.47bn FY26 Sales, Forecasts $5.9bn in FY27
Deckers Brands’ FY26 net sales reached a record $5.47bn, driven by Hoka’s 15.9% surge to $2.59bn and Ugg’s 8.2% gain to $2.74bn, while operating income rose to $1.26bn with EPS of $7.02. The company forecasts FY27 net sales of $5.86bn–$5.91bn and a 21.5% operating margin.
1. Full-Year FY26 Results
Deckers Brands delivered record net sales of $5.47 billion for the fiscal year ended March 31, 2026. Hoka net sales increased 15.9% to $2.59 billion and Ugg rose 8.2% to $2.74 billion, while other brands declined 33.9% to $146.2 million due to the Koolaburra phase-out and Sanuk sale. Operating income climbed to $1.26 billion from $1.18 billion and diluted EPS rose to $7.02 from $6.33. Gross margin was 57.7%, slightly below last year’s 57.9%, and SG&A expenses increased to $1.89 billion from $1.71 billion.
2. Q4 Performance
In Q4 FY26, Deckers Brands’ net sales grew 9.6% to $1.12 billion, with Hoka sales up 14.5% and Ugg sales up 9.2%. Gross margin improved to 57.6% from 56.7% a year earlier. Operating income was $156.7 million, down from $173.9 million, and diluted EPS declined to $0.96 from $1.00.
3. FY27 Guidance and Long-Term Outlook
For fiscal 2027, the company forecasts consolidated net sales of $5.86 billion to $5.91 billion, with Hoka growing in the low-double digits and Ugg in the mid-single digits. It expects a gross margin around 56.5%, SG&A at about 35% of net sales, and an operating margin of 21.5%. Deckers targets high-single-digit annual sales growth and low-double-digit EPS growth through FY30, maintaining a low-20% operating margin and continuing its share repurchase program.