DECK Stock Tumbles Overnight: HOKA Maker Sees ‘Measured Growth’ Over Next 2 Quarters As Consumers Seek Discounts

• Deckers CEO Stefano Caroti said consumers are becoming more price-conscious, with many waiting for discounts.
• He cited increased U.S. footwear promotions and shipping disruptions as factors weighing on growth. 
• Deckers reported $1.48 billion in revenue and $2.31 in EPS for Q2 2027. 

Deckers Brands (DECK) stock fell 6% overnight as the HOKA and UGG maker signaled a more cautious growth outlook amid rising consumer price sensitivity and heavier U.S. footwear promotions. 

Although fiscal second-quarter (Q2) 2027 revenue rose 3.5% and earnings beat expectations, weaker direct-to-consumer sales and discount-driven shopping trends weighed on the outlook for the next two quarters. 

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Deckers Brands stock traded over 6% lower overnight Thursday. The stock is down 0.5% so far this week and is on track to snap four weeks of gains. 

Deckers Feels The Pinch From Changing Consumer Spending Patterns

During the Q2 earnings call, Deckers CEO Stefano Caroti said that shoppers are becoming more selective about their purchases. 

“As consumers face increasing economic pressure, our updated fiscal year outlook reflects a more measured approach to growth over the next two quarters,” Caroti said. 

“In the U.S., we saw promotional activity increase throughout the quarter, particularly in athletic footwear, which weighed on our U.S. e-commerce performance as we maintain full price discipline.”  

He added that many consumers are waiting for promotions to get better deals, while others prioritize products that offer immediate value and practical benefits. Caroti highlighted shipping disruptions at a third-party logistics provider that affected the timing of some deliveries. The delays reduced Q2 revenue, adding another challenge to the company's performance.

Deckers’ HOKA Delivers Revenue Growth

HOKA generated $678 million in global sales in Q2, up 7% from Q2 fiscal 2026. Both wholesale and direct sales grew, with most products selling at full price. Wholesale sales rose 9% to $444 million, while direct sales increased 4% to $234 million. 

According to Caroti, Deckers is building its strategy around four priorities: “consumer first, brand-led, innovation forward and globally driven.” 

In Q2, Deckers generated $1.48 billion in sales, with earnings of $2.31 per share. While sales missed the consensus estimate of $1.5 billion, EPS came in above the $1.79 consensus view, according to Fiscal.ai. Deckers repurchased approximately 3.2 million shares for $299.3 million during the quarter.

The company sees 2027 revenue of $5.7 billion to $5.725 billion and diluted earnings per share between $7.80 and $7.95.

DECK Stock: Retail Stance 

On Stocktwits, retail sentiment around the stock jumped to ‘bullish’ from ‘bearish’. 

A user said, “Earnings were actually really good and they always sandbag.  They are managing this environment. Better than almost any company right now. 

Another user said, “Incredibly undervalued.  Easy double.” 

DECK stock has declined 17% year-to-date.

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