DECK · Deckers Brands Q1 FY2027 earnings call record财报电话会记录

“For the first time in Deckers' history, we delivered over $1 billion of revenue in the first quarter, as total company revenue increased 5.7% versus last year, and diluted earnings per share was $0.94, both above our expectations for the quarter.”

“Both HOKA and UGG maintained solid momentum and continued to capture high level of full price consumer demand, driving global DTC revenue growth of 17% and 6% respectively.”

“Underlying consumer demand for our brands remains strong across international markets and domestically.”

“While the consumer backdrop remains pressured, we continue to see people showing up for the brands they love, and we believe the compelling product pipeline for both HOKA and UGG will support continued market share gains throughout this year and beyond.”

“Mafate Speed 2, leading the HOKA brands acquisition of global lifestyle consumers, particularly with the recent XLIM collaboration that was a resounding success in building brand heat and attention to the model more broadly.”

“Gross margin for the quarter was 56.4%, which is up 60 basis points from last year's 55.8%.”

“As compared to last year, first quarter gross margin primarily benefited from favorable channel mix with DTC growing faster than wholesale, favorable product mix and full price selling, favorable foreign currency exchange rates, and unique items in the quarter primarily related to better management of product closeouts with partial offsets from the net headwind of tariffs.”

“In terms of our first quarter performance relative to the expectations we shared in May, favorable gross margin was the primary driver of our $0.07 EPS beat relative to the high end of our guidance, which is incorporated in our updated full year outlook.”

“Moving into our updated outlook for fiscal year 2027, we still expect total company revenue in the range of $5.86 billion-$5.91 billion, reflecting high single-digit growth versus the prior year.”

“Our effective tax rate is still projected to be approximately 23%, and we now expect diluted earnings per share in the range of $7.35-$7.50, which represents a $0.05 increase due to our increased gross margin expectations on the year.”

“This earnings per share guidance still assumes share repurchases with a value equal to approximately 80% of our projected fiscal year 2027 free cash flow.”

“We're already seeing reorders and some customers are already topping up their spring-summer 2027 orders.”