Deckers Outdoor (DECK) Q2 FY27: Record Quarter, Cut Guidance
Deckers reported record Q2 FY27 revenue of $1.48B (+3.5%) and EPS of $2.31, beating expectations, but cut full-year sales guidance to $5.70-5.725B as HOKA decelerated to +6.8% and U.S. athletic footwear turned promotional. Management chose brand health over chasing revenue: full-price discipline drove underlying gross margin up 120bp to 57.4%. The stock fell ~8% after hours. We cover the HOKA/UGG split, the IEEPA tariff refund benefit, the sharp analyst pushback on the call, the 2027 product pipeline (Bondi 10, Mach Pro, Bondi Ultra X), and the bull vs bear case for the stock near its 52-week…
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