Deckers Outdoor Corporation (DECK) Has Stronger Margins but a Lower Multiple. What Changed for Hoka?

Deckers Outdoor Corporation (NYSE:DECK) is still growing its Hoka and UGG brands, yet its valuation has contracted sharply. The disconnect is not explained by collapsing profitability. In its fiscal first quarter ended June 30, 2026, revenue increased 5.7% to $1.02 billion, gross margin improved and earnings exceeded expectations. Instead, the debate is whether Hoka’s future […]