# Deckers Cuts FY27 Revenue Outlook to $5.7B as HOKA Growth Halves

> Deckers Outdoor cuts full-year revenue forecast to $5.7B after HOKA growth slows, but EPS beats on $88M tariff refund.
- Title: Deckers Cuts FY27 Revenue Outlook to $5.7B as HOKA Growth…
- Summary: Deckers Outdoor cuts full-year revenue forecast to $5.7B after HOKA growth slows, but EPS beats on $88M tariff refund. Deckers Outdoor reduced its FY27…
- Keywords: deckers outdoor, hoka, ugg, stefano caroti, ieepra tariff refunds, revenue outlook, eps, gross margin, full-price selling, bondi 10, mach pro, tariff refund
- Source: BigGo Finance — https://finance.biggo.com/news/US_DECK_2026-10-22
- Author: BigGo Finance
- Published: 2026-10-22T22:54:19+00:00
- Read time: 1 min
- Topics: deckers outdoor, hoka, ugg, stefano caroti, ieepra tariff refunds, revenue outlook, eps, gross margin, full-price selling, bondi 10, mach pro, tariff refund
## Q2 2027 Results
Deckers Outdoor reported second-quarter fiscal 2027 revenue of $1.48 billion, up 3.5% year-over-year but slightly below internal expectations.
## HOKA Growth Slows
HOKA revenue grew 7% to $677 million, a sharp deceleration from its recent trajectory, while UGG rose 4% to $786 million.
## Revenue Miss
The miss was overshadowed by an earnings beat: diluted EPS of $2.31 included a $0.28 benefit from IEEPA tariff refunds.
## Revised Outlook
Management cut its full-year revenue outlook to $5.7, $5.725 billion, with HOKA now expected to grow high single digits and UGG low single digits.
## CEO Statement
CEO Stefano Caroti said Deckers will not 'trade brand equity for short-term revenue,' prioritizing full-price selling and margins over chasing volume.

> Deckers will not 'trade brand equity for short-term revenue'
## Gross Margin Boost
Gross margin expanded 430 basis points to 60.5%, with 310 basis points from IEEPA tariff refunds and 120 basis points from full-price discipline.
## Tariff Refund Impact
The $88M IEEPA tariff refund benefit boosted diluted EPS to $2.31, including a $0.28 benefit from the refund.
## Product Pipeline
Deckers highlighted Bondi 10, Mach Pro, and expanded price architecture for calendar 2027, with strong bookings for Mach Pro.
## Board Update
Rati Sahalevasky joined the board effective December 1st, replacing Lauri Shanahan who retired.
## Q3 Guidance
For Q3, Deckers expects revenue growth in low single digits, with UGG up low single digits and HOKA up low-to-mid single digits.
## Investor Response
Analysts pressed on long-term growth, with Caroti emphasizing that the HOKA deceleration is temporary and brand health remains strong.
## Key takeaway

Deckers Outdoor reduced its FY27 revenue outlook to $5.7B as HOKA growth decelerated to 7%, but diluted EPS of $2.31 exceeded guidance due to $88M IEEPA tariff refunds.