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Can UGG & HOKA's Global Growth Drive Deckers' Next Phase?
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Key Takeaways
Deckers' international net sales rose 25.5% y/y in Q4, far ahead of 0.3% domestic growth.
HOKA posted $2.6B in FY26 revenues, gaining share and awareness across global markets.
Deckers plans brand, DTC and retail investments as overseas markets outpace the United States.
Deckers Outdoor Corporation (DECK - Free Report) continues to benefit from accelerating international demand, with UGG and HOKA strengthening their positions across key global markets. In the fourth quarter of fiscal 2026, international net sales increased 25.5% year over year to $469.5 million, outpacing domestic growth of 0.3%, underscoring the company's expanding global footprint.
HOKA remains a major catalyst for international expansion. The performance footwear brand generated $2.6 billion in fiscal 2026 revenues, up 16% year over year, supported by robust global direct-to-consumer growth and ongoing wholesale momentum. HOKA became a top-three performance running brand in France, Italy and the U.K., while growing its premium brand presence in China through strong full-price performance across existing and new retail and partner locations. Brand awareness across international markets averaged approximately 40%, up from roughly 30% a year ago, reflecting growing consumer recognition across regions.
UGG delivered strong international results, with EMEA generating the highest incremental revenue increase among all markets. The brand broadened its appeal through sneakers, sandals and men's offerings, while the Lowmel franchise and Golden collection accounted for more than half of fiscal 2026 growth. The Auto clog delivered strong sell-through across global regions, particularly among new male consumers, contributing to broader consumer engagement across product categories.
To capitalize on this momentum, Deckers plans to continue investing in brand marketing, localized regional content, direct-to-consumer capabilities and selective retail expansion. Management expects international markets to grow faster than the United States over the long term, with HOKA projected to deliver low-double-digit annual growth and UGG anticipated to generate mid-single-digit gains through fiscal 2030.
With growing global branding awareness, expanding product portfolios and continued investments in international markets, UGG and HOKA remain well-positioned to support Deckers' long-term growth ambitions and strengthen the company's presence across the global footwear and lifestyle market.
DECK’s International Performance Compared With TPR & WWW
Tapestry, Inc. (TPR - Free Report) and Wolverine World Wide, Inc. (WWW - Free Report) are the key footwear companies competing with Deckers in the global arena.
Tapestry posted strong international growth in the third quarter of fiscal 2026, with Europe revenues rising 21% year over year and Greater China sales increasing 55% on a constant-currency basis. Growth was supported by strong customer acquisition, market share gains and broad-based demand across channels, while Other Asia revenues increased 16%, led by South Korea and Australia. Tapestry's direct-to-consumer model and targeted regional strategies continue to support efficient global expansion while deepening consumer engagement across key international markets.
Wolverine posted strong international growth in the first quarter of 2026, with international revenues rising 20.1% year over year to $249.6 million, or 12.8% on a constant-currency basis. Merrell and Saucony drove growth across the global markets, benefiting from strong sell-through, product innovation and targeted investments in key cities. Wolverine's diversified distribution network, spanning approximately 170 countries and territories, along with strategic partnerships across EMEA, the Asia-Pacific and Latin America, continues to support efficient global expansion and strengthen brand momentum.
DECK’s Price Performance, Valuation & Estimates
Shares of Deckers have gained 1% over the past three months compared with the industry’s growth of 5.8%.
Image Source: Zacks Investment Research
From a valuation standpoint, DECK trades at a trailing price-to-sales ratio of 2.57X, up from the industry’s average of 1.45X. It has a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Deckers’ fiscal 2027 earnings implies year-over-year growth of 6.1%, whereas the same for fiscal 2028 indicates an uptick of 10.6%. The estimates for fiscal 2027 and 2028 have been revised upward by 3 cents and 5 cents, respectively, over the past 30 days.
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Can UGG & HOKA's Global Growth Drive Deckers' Next Phase?
Key Takeaways
Deckers Outdoor Corporation (DECK - Free Report) continues to benefit from accelerating international demand, with UGG and HOKA strengthening their positions across key global markets. In the fourth quarter of fiscal 2026, international net sales increased 25.5% year over year to $469.5 million, outpacing domestic growth of 0.3%, underscoring the company's expanding global footprint.
HOKA remains a major catalyst for international expansion. The performance footwear brand generated $2.6 billion in fiscal 2026 revenues, up 16% year over year, supported by robust global direct-to-consumer growth and ongoing wholesale momentum. HOKA became a top-three performance running brand in France, Italy and the U.K., while growing its premium brand presence in China through strong full-price performance across existing and new retail and partner locations. Brand awareness across international markets averaged approximately 40%, up from roughly 30% a year ago, reflecting growing consumer recognition across regions.
UGG delivered strong international results, with EMEA generating the highest incremental revenue increase among all markets. The brand broadened its appeal through sneakers, sandals and men's offerings, while the Lowmel franchise and Golden collection accounted for more than half of fiscal 2026 growth. The Auto clog delivered strong sell-through across global regions, particularly among new male consumers, contributing to broader consumer engagement across product categories.
To capitalize on this momentum, Deckers plans to continue investing in brand marketing, localized regional content, direct-to-consumer capabilities and selective retail expansion. Management expects international markets to grow faster than the United States over the long term, with HOKA projected to deliver low-double-digit annual growth and UGG anticipated to generate mid-single-digit gains through fiscal 2030.
With growing global branding awareness, expanding product portfolios and continued investments in international markets, UGG and HOKA remain well-positioned to support Deckers' long-term growth ambitions and strengthen the company's presence across the global footwear and lifestyle market.
DECK’s International Performance Compared With TPR & WWW
Tapestry, Inc. (TPR - Free Report) and Wolverine World Wide, Inc. (WWW - Free Report) are the key footwear companies competing with Deckers in the global arena.
Tapestry posted strong international growth in the third quarter of fiscal 2026, with Europe revenues rising 21% year over year and Greater China sales increasing 55% on a constant-currency basis. Growth was supported by strong customer acquisition, market share gains and broad-based demand across channels, while Other Asia revenues increased 16%, led by South Korea and Australia. Tapestry's direct-to-consumer model and targeted regional strategies continue to support efficient global expansion while deepening consumer engagement across key international markets.
Wolverine posted strong international growth in the first quarter of 2026, with international revenues rising 20.1% year over year to $249.6 million, or 12.8% on a constant-currency basis. Merrell and Saucony drove growth across the global markets, benefiting from strong sell-through, product innovation and targeted investments in key cities. Wolverine's diversified distribution network, spanning approximately 170 countries and territories, along with strategic partnerships across EMEA, the Asia-Pacific and Latin America, continues to support efficient global expansion and strengthen brand momentum.
DECK’s Price Performance, Valuation & Estimates
Shares of Deckers have gained 1% over the past three months compared with the industry’s growth of 5.8%.
Image Source: Zacks Investment Research
From a valuation standpoint, DECK trades at a trailing price-to-sales ratio of 2.57X, up from the industry’s average of 1.45X. It has a Value Score of A.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Deckers’ fiscal 2027 earnings implies year-over-year growth of 6.1%, whereas the same for fiscal 2028 indicates an uptick of 10.6%. The estimates for fiscal 2027 and 2028 have been revised upward by 3 cents and 5 cents, respectively, over the past 30 days.
Image Source: Zacks Investment Research
DECK currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.