Deckers' Wholesale Business Drives Q4 Revenue Growth, HOKA and UGG Lead the Way.

Deckers Outdoor Corporation's wholesale business, driven by strong performances from HOKA and UGG, rose 12.3% YoY to $611.6 million in Q4 FY25. HOKA's growth was fueled by an expanded retail footprint and successful Bondi 9 launch, while UGG's gains were led by demand for seasonal offerings. The company aims for a balanced 50-50 split between wholesale and direct-to-consumer sales, with wholesale expected to continue outpacing DTC in FY26, especially for HOKA.

Deckers Outdoor Corporation (NYSE: DECK) reported a robust 12.3% year-over-year (YoY) growth in its wholesale business during the fourth quarter of fiscal year 2025 (Q4 FY25), reaching $611.6 million. The strong performance was driven by the exceptional growth of its HOKA and UGG brands. HOKA's expansion was fueled by an increased retail footprint and the successful launch of the Bondi 9 model, while UGG's gains were attributed to high demand for seasonal offerings.

According to the company's latest earnings report, HOKA's growth was driven by a significant increase in its retail presence and the positive reception of the Bondi 9 shoe. This model, known for its maximal cushioning, has become a favorite among consumers seeking comfort and support during long walks and runs. Meanwhile, UGG's performance was buoyed by strong demand for its seasonal collections, which continue to attract a wide range of customers.

Deckers Outdoor aims to maintain a balanced 50-50 split between wholesale and direct-to-consumer (DTC) sales. However, the company expects wholesale sales to continue outpacing DTC sales in fiscal year 2026, particularly for the HOKA brand. This strategy underscores the company's commitment to leveraging its strong wholesale partnerships and retail network to drive growth.

In addition to the strong Q4 FY25 performance, Deckers Outdoor has also been the subject of increased institutional investment. NBC Securities Inc. significantly increased its holdings in the company, while other hedge funds such as JPMorgan Chase & Co., Revolve Wealth Partners LLC, and Mirae Asset Global Investments Co. Ltd. also increased their stakes in Deckers Outdoor shares. This trend indicates a growing confidence in the company's future prospects among institutional investors.

Deckers Outdoor's stock has also shown resilience in the market, trading up 0.9% on Friday, June 7th, 2025, reaching $109.29 per share. The company's stock has a market capitalization of $16.33 billion and a price-to-earnings (PE) ratio of 17.72, reflecting its strong financial health and growth potential.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-nbc-securities-inc-grows-stock-position-in-deckers-outdoor-co-nysedeck-2025-06-07/
[2] https://www.forbes.com/sites/forbes-personal-shopper/article/best-hoka-shoe-for-walking/