Will DECK’s Soaring International Sales Redefine Its Growth Strategy?

Deckers Outdoor Corporation’s DECK international business continues to outperform, becoming a core growth engine. In the first quarter of fiscal 2026, international sales rallied 49.7% year over year to $463.3 million, far outpacing the U.S. performance and demonstrating the success of the company’s global strategy. Both HOKA and UGG posted strong gains, supporting Deckers’ long-term goal of achieving a geographically balanced revenue mix.

HOKA led the global momentum with international wholesale revenues rising 30% year over year, driven by strong demand in EMEA and APAC. Europe recorded record reorders and continued DTC growth, fueled by customer acquisition and retention. 

In China, volumes of flagship models Bondi and Clifton doubled year over year, while the new Arahi 8 exceeded expectations across regions with strong early sell-through. HOKA launched its global campaign “Together We Fly Higher” to build a deeper brand connection and expanded its owned retail footprint to 48 global stores, including upcoming locations in Berlin and Milan.

UGG also posted solid international results, with growth led by EMEA and China, contributing to the brand’s 19% revenue increase. The brand’s 365 initiative continued to succeed globally, driven by popular styles like the Goldenstar Glide and Lowmel. The new PeakMod clog resonated especially well with international male consumers. UGG’s Iconic Design Campaign helped generate buzz around product launches ahead of peak season.

Deckers expects international growth to continue outpacing that from the United States, supported by premium product offerings, growing retail presence and regional marketing investments. With strong brand momentum and an increasingly global footprint, Deckers is well-positioned to deliver sustainable international expansion through fiscal 2026 and beyond.

Shares of Deckers have lost 42.5% year to date compared with the industry’s decline of 8.2%.

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From a valuation standpoint, DECK trades at a forward price-to-earnings ratio of 18.47X, slightly down from the industry’s average of 18.56X. It has a Value Score of C.

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The Zacks Consensus Estimate for DECK’s fiscal 2026 earnings implies a year-over-year decline of 2.7%, whereas the same for fiscal 2027 indicates an uptick of 8.6%. Estimates for fiscal 2026 and 2027 have been upward in the past seven days.

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