Deckers Outdoor Corp. reported its fourth quarter and full fiscal year 2025 financial results, with net sales reaching $1.02 billion, a 6.5% increase from the previous year. On a constant currency basis, net sales rose by 7.5%. The company's diluted earnings per share were $1.00, up from $0.82 in the prior year. The UGG brand saw a 3.6% increase in net sales to $374.3 million, while the HOKA brand experienced a significant revenue surge of 23.6% for the fiscal year, reaching $2.531 billion. Despite the positive revenue figures, Deckers' stock fell 7% in postmarket trading after the earnings release. The company declined to provide guidance for the upcoming quarter, citing ongoing trade tensions and slowing sales of the HOKA brand. Analysts from Telsey and Evercore cut their price targets on Deckers by over 50%, although most ratings remained at Buy or Hold, indicating mounting bearish pressure. The CEO's retirement and a shortfall in direct-to-consumer (DTC) sales, along with the underperformance of the all-gender speed loafer, added to the concerns. Deckers guided for sales in the range of $890 million to $910 million for the current quarter, which fell short of the $925.3 million that analysts were expecting. This weak forward guidance, combined with concerns over tariffs and the performance of the HOKA brand, led to a significant drop in investor sentiment, with Deckers' stock plunging 18.96% in premarket trading.