Interprétation IA fondée sur des extraits vérifiés. Les déclarations de l’entreprise et les limites de couverture restent explicites.
Preuves
Reportable operating segment information, with a reconciliation to the consolidated statements of comprehensive income, was as follows: Year Ended March 31, 2026 HOKA UGG Other Brands (3) Total Net sales $2,587,330 $2,738,758 $146,208 $5,472,296 Less: Cost of sales 1,116,395 1,115,588 82,587 2,314,570 Segment gross profit 1,470,935 1,623,170 63,621 3,157,726 Segment gross margin 56.9% 59.3% 43.5% 57.7% Less: Payroll and related costs 130,466 158,290 18,317 307,073 Advertising, marketing, and promotion expenses 263,063 215,403 17,372 495,838 Rent and occupancy 46,173 84,287 111 130,571 Depreciation and other related costs (1) 7,831 12,245 108 20,184 Other segment items (2) 112,422 107,614 11,348 231,384 Segment SG&A expenses 559,955 577,839 47,256 1,185,050 Segment income from operations $910,980 $1,045,331 $16,365 $1,972,676 Segment operating margin 35.2% 38.2% 11.2% 36.0% Year Ended March 31, 2025 HOKA UGG Other Brands (3) Total Net sales $2,233,090 $2,531,351 $221,171 $4,985,612 Less: Cost of sales 949,824 1,023,495 126,630 2,099,949 Segment gross profit 1,283,266 1,507,856 94,541 2,885,663 Segment gross margin 57.5% 59.6% 42.7% 57.9% Table of Contents F-39 DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS For the Fiscal Years Ended March 31, 2026, 2025, and 2024 (amounts in thousands, except per share data) Year Ended March 31, 2025 HOKA UGG Other Brands (3) Total Less: Payroll and related costs 101,056 146,093 18,179 265,328 Advertising, marketing, and promotion expenses 226,238 180,889 25,071 432,198 Rent and occupancy 26,467 75,724 424 102,615 Depreciation and other related costs (1) 5,007 10,026 4,412 19,445 Other segment items (2) 75,993 92,251 11,877 180,121 Segment SG&A expenses 434,761 504,983 59,963 999,707 Segment income from operations $848,505 $1,002,873 $34,578 $1,885,956 Segment operating margin 38.0% 39.6% 15.6% 37.8% Year Ended March 31, 2024 HOKA UGG Other Brands (3) Total Net sales $1,806,740 $2,239,132 $241,891 $4,287,763 Less: Cost of sales 763,673 983,636 154,966 1,902,275 Segment gross profit 1,043,067 1,255,496 86,925 2,385,488 Segment gross margin 57.7% 56.1% 35.9% 55.6% Less: Payroll and related costs 74,991 134,307 17,628 226,926 Advertising, marketing, and promotion expenses 175,756 148,809 24,287 348,852 Rent and occupancy 16,589 75,724 348 92,661 Depreciation and other related costs (1) 3,389 9,295 10,034 22,718 Other segment items (2) 53,295 82,534 10,907 146,736 Segment SG&A expenses 324,020 450,669 63,204 837,893 Segment income from operations $719,047 $804,827 $23,721 $1,547,595 Segment operating margin 39.8% 35.9% 9.8% 36.1% (1) Depreciation and other related costs generally include depreciation of property and equipment, amortization and impairment of intangible assets or other-long lived assets, accretion, loss on disposal of assets, and other miscellaneous costs.
Note 13, reportable operating segment results, fiscal 2024–2026 · Dépôt 22/05/2026
Reportable operating segment information, with a reconciliation to the condensed consolidated statements of comprehensive income, was as follows: Three Months Ended June 30, 2026 HOKA UGG Other Brands Total Net sales $703,538 $278,049 $37,944 $1,019,531 Less: Cost of sales 301,124 125,297 17,947 444,368 Segment gross profit 402,414 152,752 19,997 575,163 Segment gross margin 57.2% 54.9% 52.7% 56.4% Less: Payroll and related costs 36,148 36,096 4,758 77,002 Advertising, marketing, and promotion expenses 62,248 22,810 7,042 92,100 Rent and occupancy 12,919 19,296 4 32,219 Depreciation and other related costs (1) 2,662 3,382 163 6,207 Other segment items (2) 32,969 17,154 1,488 51,611 Segment SG&A expenses 146,946 98,738 13,455 259,139 Segment income from operations $255,468 $54,014 $6,542 $316,024 Segment operating margin (3) 36.3% 19.4% 17.2% 31.0% Three Months Ended June 30, 2025 HOKA UGG Other Brands (4) Total Net sales $653,119 $265,092 $46,327 $964,538 Less: Cost of sales 276,172 125,768 24,692 426,632 Segment gross profit 376,947 139,324 21,635 537,906 Segment gross margin 57.7% 52.6% 46.7% 55.8% Less: Payroll and related costs 28,508 32,865 4,532 65,905 Advertising, marketing, and promotion expenses 55,988 19,568 6,208 81,764 Rent and occupancy 9,046 17,217 38 26,301 Depreciation and other related costs (1) 1,473 2,957 39 4,469 Other segment items (2) 28,404 12,734 3,065 44,203 Segment SG&A expenses 123,419 85,341 13,882 222,642 Segment income from operations $253,528 $53,983 $7,753 $315,264 Segment operating margin (3) 38.8% 20.4% 16.7% 32.7% (1) Depreciation and other related costs generally include depreciation of property and equipment, amortization and impairment of intangible assets or other long-lived assets, accretion, loss on disposal of assets, and other miscellaneous costs.
Reportable operating segment results, three months ended June 30, 2026 and 2025 · Dépôt 30/07/2026
During fiscal year 2024, we experienced alignment on product assortments that resulted in higher full-price sell through.
Management’s Discussion and Analysis, fiscal 2024 full-price sell-through · Dépôt 24/05/2024
This, combined with selective price increases, has benefited our gross margins during fiscal year 2024 across all channels of distribution.
Management’s Discussion and Analysis, fiscal 2024 selective price increases · Dépôt 24/05/2024
Table of Contents 38 Gross Profit. Gross margin decreased to 57.7% from 57.9%, compared to the prior period, primarily due to incremental tariffs on domestic goods and a slightly unfavorable channel mix; partially offset by cost‑sharing arrangements, strategic price increases, and favorable product mix, along with slightly favorable foreign currency exchange rate fluctuations and freight costs.
Management’s Discussion and Analysis, gross profit and realized strategic price increases · Dépôt 22/05/2026
ITEM 1. LEGAL PROCEEDINGS As part of our global policing program to protect our intellectual property rights, from time to time, we file lawsuits in various jurisdictions asserting claims for alleged acts of trademark counterfeiting, trademark infringement, patent infringement, trade dress infringement, and trademark dilution.
Part II, Item 1, intellectual property policing program · Dépôt 30/07/2026
We face intense competition from both established companies and newer entrants into the market, and our failure to compete effectively could cause our market share to decline, which could harm our reputation and have a material adverse effect on our financial condition and results of operations.
Risk factors, established competitors and newer entrants · Dépôt 23/05/2025
In particular, our HOKA brand maintains its competitiveness through continuous product innovation and timely introduction of new features and technologies that align with current and emerging consumer expectations, including our ability to bring such innovations to market ahead of or in line with competitors.
Risk factors, HOKA dependence on continuous innovation · Dépôt 22/05/2026
In addition, if our competitors introduce superior or more cost-effective innovations, we may lose market share or be required to increase promotional activity to remain competitive.
Risk factors, competing innovations and potential promotional pressure · Dépôt 22/05/2026
Drivers of significant net changes in SG&A expenses, compared to the prior period, were as follows: •Increased advertising, marketing, and promotion expenses of approximately $63,600, primarily due to higher promotion expenses for the HOKA brand and UGG brand of approximately $71,300 to drive global brand awareness and market share gains, highlight new product categories, and provide localized marketing; partially offset by lower promotion expenses for the Other brands of approximately $7,700 primarily driven by the phase out of standalone operations of the Koolaburra brand and AHNU brand as well as the sale of the Sanuk brand in the prior period.
Management’s Discussion and Analysis, increased brand advertising and promotion expenses · Dépôt 22/05/2026
In addition, from time to time, we are subject to claims in which opposing parties will raise, either as affirmative defenses or as counterclaims, the invalidity or unenforceability of certain of our intellectual property rights, including allegations that the UGG brand trademark registrations and design patents are invalid or unenforceable.
Part II, Item 1, challenges to intellectual property enforceability · Dépôt 30/07/2026
During the year ended March 31, 2024, the Company recorded an impairment to intangible assets of $8,164 for the Sanuk brand definite- lived trademark.
Segment footnote, fiscal 2024 Sanuk trademark impairment · Dépôt 22/05/2026
(3) The Other brands reportable operating segment for fiscal year 2026, includes financial results for the phase out of the Koolaburra brand and AHNU brand.
Segment footnote, Koolaburra and AHNU phase-outs · Dépôt 22/05/2026
Our general practice, and the general practice in our industry, is to offer customers in our wholesale channel the right to return defective or improperly shipped merchandise, and to accept returns from our consumers in the DTC channel between 30 to 90 days from the point of sale for cash or credit.
Inventory management and product returns, wholesale and DTC return practices · Dépôt 23/05/2025
Gross Profit. Gross margin decreased to 59.8% from 60.3%, compared to the prior period, primarily due to incremental tariffs on US goods net of cost sharing arrangements and higher promotional activity compared to exceptionally low levels in the prior period; partially offset by benefits from strategic price increases, product mix shifts, and lower freight-related costs.
Management’s Discussion and Analysis, gross profit, promotional activity and price increases · Dépôt 03/02/2026
Net Income. The decrease in net income, compared to the prior period, was due to lower operating margins on higher net sales.
Management’s Discussion and Analysis, lower net income and operating margins · Dépôt 30/07/2026
Table of Contents 42 Cash Flows The following table summarizes the major components of our consolidated statements of cash flows for the periods presented: Years Ended March 31, 2026 2025 Change Amount Amount Amount % Net cash provided by operating activities $1,181,955 $1,044,523 $137,432 13.2% Net cash used in investing activities (84,612) (75,003) (9,609) (12.8) Net cash used in financing activities (1,084,044) (581,334) (502,710) (86.5) Effect of foreign currency exchange rates on cash and cash equivalents 4,762 (1,049) 5,811 554.0 Net change in cash and cash equivalents $18,061 $387,137 $(369,076) (95.3)% Operating Activities.
Cash flows, fiscal 2026 and 2025 operating, investing and financing cash flows · Dépôt 22/05/2026
Stock repurchase activity under the Company’s stock repurchase program was as follows: Years Ended March 31, 2026 2025 2024 Total number of shares repurchased (1) 10,496,292 3,800,040 4,289,124 Weighted average price per share $102.43 $149.21 $96.74 Dollar value of shares repurchased (2) (3) $1,075,100 $567,002 $414,931 (1) All share repurchases were made pursuant to the stock repurchase program in open-market transactions.
Note 11, actual fiscal 2024–2026 share repurchases · Dépôt 22/05/2026
Stock repurchase activity under the stock repurchase program was as follows: Three Months Ended June 30, 2026 2025 Total number of shares repurchased (1) 3,258,352 1,665,902 Weighted average price per share $103.79 $109.84 Dollar value of shares repurchased (2) (3) $338,186 $182,991 (1) All share repurchases were made pursuant to the stock repurchase program in open-market transactions.
Stockholders’ equity, actual June 2026 quarter share repurchases · Dépôt 30/07/2026
As of June 30, 2026, and March 31, 2026, our cash and cash equivalents balance is $1,602,589 and $1,907,249, respectively, the majority of which is held in highly rated money market funds and interest-bearing bank deposit accounts with established national and global financial institutions.
Liquidity and capital resources, June 2026 and March 2026 cash balances · Dépôt 30/07/2026
For the three months ended June 30, 2026, and 2025, we generated $47,904 and $36,146, respectively, of cash from operating activities.
Liquidity and capital resources, quarterly operating cash generation · Dépôt 30/07/2026
Basic and Diluted Shares The reconciliation of basic to diluted weighted-average common shares outstanding was as follows: Three Months Ended June 30, 2026 2025 Basic 138,263 149,344 Dilutive effect of equity awards 296 291 Diluted 138,559 149,635 Excluded Time-Based Restricted Stock Units 11 60 Long-Term Incentive Plan Performance-Based Stock Units 253 155 Deferred Non-Employee Director Equity Awards 6 5 Employee Stock Purchase Plan 1 4 Excluded Awards.
Note 9, weighted-average shares and equity award dilution · Dépôt 30/07/2026
• For fiscal year 2026, approximately 60% of the value of the equity awards granted vest based on the achievement of Company performance conditions and the remainder vest over a long-term service period to encourage executive retention.
Compensation discussion, fiscal 2026 equity awards granted and vesting conditions · Dépôt 24/07/2026
Use of long-term performance-based vesting for LTIP awards • The 2026 LTIP PSU vesting is based on the achievement of pre-determined profitability and revenue metrics assessed each year over the three-year performance period.
Compensation discussion, three-year profitability and revenue conditions · Dépôt 24/07/2026
• The vesting of each LTIP award is also subject to positive or negative adjustment based upon the application of a TSR modifier, thereby correlating the vesting of the award to both total and relative stockholder returns.
Compensation discussion, total shareholder return modifier · Dépôt 24/07/2026
2024 LTIP PSU vesting based on strong financial and operating results, and TSR • The 2024 LTIP PSUs, which covered the three-year performance period ended March 31, 2026, were paid out at 200% of target, reflecting strong financial and operational results, as well as strong total stockholder return compared to peers.
Compensation discussion, actual 2024 LTIP payout for period ended March 31, 2026 · Dépôt 24/07/2026
Board of Directors Meetings BOARD OF DIRECTORS Meetings in Fiscal Year 2026: 5 • Each of our directors attended at least 80% of Board meetings and meetings of the Board committees on which he or she served during the period in which he or she served on the Board or on any Board committee.
Governance, fiscal 2026 Board meetings and attendance · Dépôt 24/07/2026
• Time is scheduled for our independent directors to meet in an executive session at every Board meeting.
Governance, independent director executive sessions · Dépôt 24/07/2026
However, the Committee, which is comprised solely of independent directors, thoroughly evaluates and approves all elements of compensation for our NEOs and other executives.
Compensation governance, independent committee approval · Dépôt 24/07/2026
76 Audit & Risk Management Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm In accordance with its policies and procedures, prior to engagement, the Audit & Risk Management Committee pre-approves all independent registered public accounting firm services.
Audit governance, pre-approval of auditor services · Dépôt 24/07/2026
•If the executive is terminated by us without Cause or by the executive for Good Reason within two years of a Change in Control (as defined in the Severance Agreement), then in addition to those benefits provided upon a termination due to death or Total Disability and the health benefits and accelerated vesting of equity awards summarized above, the executive will receive payment of, in the case of the Chief Executive Officer, two and one-half times, or, in the case of any other executive, two times his or her then-effective annual base salary plus the greater of (x) in the case of the Chief Executive Officer, two and one-half times, or, in the case of any other executive, two times the target cash incentive award immediately prior to the time such termination occurs or (y) in the case of the Chief Executive Officer, two and one-half times, or, in the case of any other executive, two times the average actual cash incentive award for the previous three years, subject to such executive signing a release.
June 2026 amended severance agreements, change-in-control payments · Dépôt 24/07/2026
The Company was named as a defendant in two purported consumer class actions relating to alleged tariff-related pricing actions and potential governmental tariff reimbursements.
Commitments and contingencies, alleged tariff-related pricing class actions · Dépôt 30/07/2026
Changes in operating assets and liabilities were primarily due to favorable impacts from (1) improved inventory levels reflecting more disciplined inventory management, including higher beginning inventory levels in the prior fiscal year related to the transition of our European 3PL; and (2) timing of payments on prepaid expenses and other current assets.
Cash flows, inventory management and European 3PL transition · Dépôt 30/07/2026
