Deckers shares decline as Hoka Maker warns consumers will retreat due to tariffs and higher prices

Shares of Deckers Outdoor (DECK) fell on Friday after the footwear and apparel maker gave a weaker-than-expected outlook, saying it expects a pushback from consumers due to tariffs and higher prices.

The stock is down nearly 14% in recent trading. It has lost more than half its value since the beginning of the year.

The company behind the Ugg and Hoka brands said it now expects full-year sales to reach about $5.35 billion, below the consensus of analysts surveyed by Visible Alpha.

“We expect a more cautious consumer as the full impact of the tariffs and price increases will be felt here in the United States,” CEO Stefano Carotti told investors during the company’s earnings call, according to a transcript provided by AlphaSense. Chief Financial Officer Stephen Fasching said headwinds from the tariffs may be partially offset by the company’s mitigation strategies, which could include promotions to entice shoppers.

The pessimistic outlook was offset by strong quarterly results. Deckers reported earnings per share of $1.82 for its fiscal second quarter on revenue that rose 9.1% year over year to $1.43 billion. Both numbers beat analyst estimates, driven by strong sales of the company’s Ugg and Hoka brands.

Ugg sales rose 10.1% to $759.6 million, and Hoka sales grew 11.1% to $634.1 million. However, sales of other brands fell 26.5% to $57.2 million.