Deckers sinks on cautious full-year outlook that falls below estimates, compounding a miserable year for the Ugg maker

Deckers, the shoe maker behind brands like Ugg and Hoka running sneakers, has dropped about 11% in premarket trading after issuing a cautious outlook for its current fiscal year last night.

While revenue and profit both rose in the second quarter, up 9.1% and 9.7%, respectively, investors focused on the company’s forecast for the full fiscal year, where it expects sales to come in at $5.35 billion, some way short of the $5.46 billion analysts had estimated, per FactSet figures cited by The Wall Street Journal.

The language around the full-year guidance, which is already weaker than anticipated, has also got Deckers investors worried, with the company stating:

“This outlook assumes no meaningful changes to the Company’s business prospects or risks and uncertainties identified by management that could impact future results, which include but are not limited to: changes in macroeconomic conditions, including consumer confidence, discretionary spending, inflationary pressures, and foreign currency fluctuations; changes to global trade policy, including tariffs and trade restrictions; geopolitical tensions; and supply chain disruption.”

The shoe company’s shares are down more than 55% in 2025 at the time of writing.