Deckers stock soars as Hokas keep hitting
The maker of ugly but beloved running shoes can take a victory lap.
Ugly shoe giant Deckers Outdoor — the parent company of UGGs and Teva — jumped by the most since May, after reporting blowout numbers and raising its annual-profit forecast.
Demand is hot, especially for the company’s chunky, orthopedic-looking Hoka running sneakers. Hoka sales were up more than 35% to a record of $571 million during the quarter that ended in September. Company executives spotlighted growing international demand for the brand.
Investors are clearly sold on the story, with the stock handily outpacing the market over the last year as strong earnings have so far justified sky-high earnings expectations.
Deckers can clearly take a victory lap. But, of course, in the hit-based sneaker industry, victory can be fleeting. One need only look at the ongoing travails of Nike — down more than 27% in 2024 — to see that.
