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NYSE: DECK

DECKERS OUTDOOR CORP

CIK 0000910521 · SIC 3021

We are a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories About this business →

10-K Filed May 22, 2026 · Period ending Mar 31, 2026

Deckers growth slows to 9.8% as HOKA leads brand order; tariff headwinds compress margins

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8-K Filed May 21, 2026 · Period ending May 21, 2026

Deckers reports Q4 and FY2026 earnings, issues FY2027 guidance and 3-year outlook to 2030

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10-Q Filed Feb 3, 2026 · Period ending Dec 31, 2025

Summary not yet generated.

8-K Filed Jan 29, 2026 · Period ending Jan 29, 2026

Summary not yet generated.

10-Q Filed Oct 31, 2025 · Period ending Sep 30, 2025

Summary not yet generated.

8-K Filed Oct 23, 2025 · Period ending Oct 23, 2025

Summary not yet generated.

10-K Filed May 23, 2025 · Period ending Mar 31, 2025

Summary not yet generated.

About DECKERS OUTDOOR CORP

Source: Item 1 (Business) from the 10-K filed May 22, 2026. Description as filed by the company with the SEC.

ITEM 1. BUSINESS

General

We are a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories

developed for both everyday casual lifestyle use and high-performance activities. We market our products primarily

under three proprietary brands: HOKA, UGG, and Teva.

Our brands compete across the fashion and casual lifestyle, performance, running, and outdoor markets. We

believe our products are distinctive and appeal to a broad demographic. Our brands sell our products through

quality domestic and international retailers and international distributors in our wholesale channel, and directly to

global consumers through our Direct-to-Consumer (DTC) channel, which is comprised of an e‑commerce and retail

store presence. We seek to differentiate our brands and products by offering diverse lines that emphasize fashion,

performance, authenticity, functionality, quality, and comfort, and products tailored to a variety of activities, seasons,

and demographic groups. Independent third-party contractors manufacture all of our products (independent

manufacturers).

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Brands

The HOKA brand is an authentic premium line of year-

round performance footwear, which offers enhanced

cushioning and inherent stability with minimal weight.

Originally designed for ultra-runners, the brand now

appeals to world champions, tastemakers, and everyday

athletes. Expansion into additional product categories,

elevated marketing campaigns, and investments in brand

Read full description ↓

experiences, coupled with strategic marketplace presence

have fueled both domestic and international sales growth

of the HOKA brand, which has quickly become a leading

brand within run and outdoor specialty wholesale

accounts and is growing across its global marketplace.

The HOKA brand’s product line includes running, trail,

hiking, fitness, and lifestyle footwear offerings, as well as

apparel and accessories.

The UGG brand is one of the most iconic and recognized

brands in our industry, which highlights our successful

track record of building niche brands into consumer-

focused fashion lifestyle market leaders. Born on the

California coast to warm surfers after they caught and

rode the waves, we create iconic products and

experiences that are made for people to feel comfort,

softness, warmth, and confidence. With loyal consumers

around the world, innovative products, and elevated

storytelling, the UGG brand has proven to be a highly

resilient consumer-focused line of premium footwear,

apparel, and accessories that has driven both domestic

and international sales growth with year-round product

offerings that appeal to a growing global audience and a

broad demographic.

Other brands consist primarily of the Teva brand. The

Teva brand’s products are built for a range of outdoor

pursuits and include a variety of footwear options, from

classic sandals and shoes to boots.

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The Other brands reportable operating segment includes financial results of the Koolaburra brand and AHNU brand,

for which the phase out of standalone operations were completed during the third and fourth quarters of fiscal year

2026, as well as financial results for the former Sanuk brand during the prior period through the sale date of August

15, 2024 (Sanuk Brand Sale Date).

Refer to the section titled “Reportable Operating Segments” below for further details about our reportable operating

segments.

Channel Distribution

We operate omnichannel global marketplaces for our brands where consumers can shop and experience our

brands seamlessly across both channels outlined below.

Wholesale. Our wholesale channel sells products to a network of third-party retailers, including partner retailers,

and distributors. This approach enables us to expand market reach and leverage the scale and operational

capabilities of our wholesale partners to serve a broad base of end consumers.

We sell our HOKA brand products primarily through full-service specialty retailers, outdoor and sporting goods

retailers, select online retailers, fashion lifestyle retailers, sports style partners, and higher-end department stores.

We continue to expand our HOKA brand wholesale distribution globally, including through additional mono-branded

locations operated by partner retailers.

We sell our UGG brand products primarily through fashion lifestyle retailers, higher-end department stores,

streetwear and sports style partners, online retailers and partner retailers. As the retail marketplace continues to

evolve to reflect changing consumer preferences, we continually review and evaluate our UGG wholesale

distribution and product segmentation approach.

We sell our Teva brand products primarily through outdoor and sporting goods retailers, fashion lifestyle retailers,

large national retail chains, higher-end department stores, and online retailers.

Direct-to-Consumer. Our DTC channel is comprised of our Company-owned e-commerce websites and retail

stores where products are sold at retail prices. Our e-commerce websites and retail stores are intertwined and

interdependent in an omnichannel marketplace, which engenders brand loyalty while increasing product sales and

improving our inventory productivity. In addition, we believe some of our consumers interact with both before making

purchasing decisions in store and online. For example, consumers may feel or try on products in our retail stores

and then place an order online later, or they may initially research products online and then make a purchase in

store.

E-Commerce Websites. Our global e-commerce websites provide us with an opportunity to directly engage and

connect with our consumers and communicate a consistent message that promotes awareness of our brands’

promises and key initiatives, offers targeted information to specific consumer demographics, and drives consumers

to our retail stores. Our e‑commerce websites provide consumers with access to the broadest selection and

assortment of our products. As of March 31, 2026, we operate Company-owned e-commerce websites in 54

different countries.

Retail Stores. Retail stores enable us to expose consumers to a curated selection of products and directly influence

our consumers’ experience with our brands. We continue to open mono-branded retail stores in key markets to

further grow the UGG brand and HOKA brand presence and appeal to a broader consumer base, while also

prioritizing the revitalization and recalibration of our existing retail store fleet to enhance overall brand impact and

consumer experience. As of March 31, 2026, we have a total of 203 global Company-owned retail stores (including

141 UGG brand retail stores and 62 HOKA brand retail stores), which include 105 concept stores and 98 outlet

stores.

Geographic Distribution

US Distribution. In our wholesale channel, we sell our products in the US through sales representatives, organized

by brand and either geography or account type, as each brand generally has certain strategic customers that expect

a dedicated sales team with specialized knowledge of the brand’s product offerings. In addition to our wholesale

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channel, we sell products directly to consumers through our DTC channel and fulfill online orders through our

warehouses and DCs, and retail stores. We currently distribute products sold in the US through our DCs in Moreno

Valley, California, and Mooresville, Indiana. We also distribute products to our wholesale channel customers through

a DC bypass program.

International Distribution. Collectively, our brands are sold internationally, including in Canada, Europe, Asia, and

Latin America. We sell our products internationally in our wholesale channel through wholly owned subsidiaries and

independent distributors, some of which operate partner retail stores. In addition, in certain countries we sell

products through our DTC channel. For our wholesale and DTC channels, we distribute our products through a

number of warehouses and DCs managed by 3PLs in certain international locations. We are currently transitioning

one of our international 3PLs to a new partner.

Refer to Part I, Item 2, “Properties,” and Note 7, “Leases,” of our consolidated financial statements in Part IV within

this Annual Report for further information on our properties and leases. Refer to Note 2, “Revenue Recognition and

Business Concentrations,” of our consolidated financial statements in Part IV within this Annual Report for further

information regarding geographic areas and concentration of related business risks.

Reportable Operating Segments

As of March 31, 2026, our three reportable operating segments include the worldwide operations of the HOKA

brand, UGG brand, and Other brands (collectively, our reportable operating segments). Other brands consist

primarily of the Teva brand. The Other brands reportable operating segment includes current and historical results of

brands previously sold and brands for which standalone operations have been phased out, as discussed below.

Consistent with our continuous focus on pursuing the most profitable long-term opportunities, we have taken the

following strategic actions to streamline our brand portfolio within the Other brands reportable operating segment:

•During the second quarter of fiscal year 2026, we began phasing out standalone operations for the

AHNU brand. We closed Ahnu.com as of October 1, 2025, and completed the phase out of the

AHNU brand in the wholesale channel during third and fourth quarters of fiscal year 2026. We did

not incur material exit costs or obligations associated with this plan.

•During the third quarter of fiscal year 2025, we began phasing out standalone operations for the

Koolaburra brand. We closed Koolaburra.com as of the end of fiscal year 2025 and completed the

phase out of the Koolaburra brand in the wholesale channel during the third and fourth quarters of

fiscal year 2026. We did not incur material exit costs or obligations associated with this plan.

•The sale of the Sanuk brand was completed during the second quarter of fiscal year 2025. The

financial results for the reportable operating segments present the former Sanuk brand through the

Sanuk Brand Sale Date.

Refer to Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”

the section titled “Basis of Presentation,” in Note 1, “General,” and to Note 13, “Reportable Operating Segments,” of

our consolidated financial statements in Part IV within this Annual Report for further information on our reportable

operating segments.

Product Design and Development

We are committed to designing innovative, functional, and distinctive products that enable consumers to move

through the world with greater comfort, confidence, and performance. Our design and development teams

collaborate to create seasonal product lines that meet consumers where they are and exceed their expectations.

Each brand follows a disciplined product creation path that begins with engaging key consumer segments to gather

insights, conducting in-depth market and trend analysis, and incorporating color and material research. While this

process is consistent across the portfolio, each brand applies it differently based on its unique consumer and design

philosophy. The HOKA brand emphasizes high‑performance innovation informed by biomechanics, athlete

partnerships, and iterative dynamic testing to refine cushioning systems, rocker geometries, and technical

components. The UGG brand focuses on premium materials, sensory comfort, and modern lifestyle aesthetics, with

development centered on tactile experience, durability, and seasonal versatility. The Teva brand product creation

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focuses on offerings to reflect its modern outdoor versatility. These differentiated approaches ensure that each

brand delivers products that reflect its identity and the expectations of its target consumer.

Throughout the creation process, our teams conduct concept and design reviews, develop prototypes assembled by

our independent manufacturers, and complete multiple rounds of sampling for fit, comfort, and performance.

Depending on the brand and product application, this may include athlete testing or specialized laboratory testing

performed by external partners. Our internal research and development specialists collaborate with experts in

engineering, industrial design, chemistry, and materials science to advance new technologies, cushioning systems,

and material innovations that can be leveraged across brands. At every stage, we evaluate raw material availability

and cost, manufacturing capabilities and capacity, and target product pricing. Our multi‑brand portfolio enables us to

share learnings, scale innovations, and drive efficiencies across product lines, supporting both product excellence

and operational performance.

Marketing and Advertising

Our marketing and advertising efforts are designed to strengthen brand awareness, deepen consumer engagement,

and drive purchase intent across our portfolio of brands. We seek to connect with consumers through distinctive

brand storytelling, product innovation, consumer insights, and integrated marketing campaigns that communicate

the unique positioning of each brand and support long-term brand affinity.

We invest in a mix of digital advertising, social media, influencer and ambassador partnerships, experiential

activations, content, public relations, and traditional media to deliver relevant and impactful messaging. These

efforts are intended to attract new consumers, retain and engage existing consumers, and reinforce the authenticity,

relevance and desirability of our brands.

Our campaigns reflect the distinct positioning of each brand. The HOKA brand highlights its premium performance

heritage rooted in enhanced cushioning, inherent stability, and minimal weight, appealing to world champions,

tastemakers, and everyday athletes across running, trail, hiking, fitness, and lifestyle categories for its footwear,

apparel, and accessories. The UGG brand emphasizes its iconic status and year‑round premium footwear, apparel,

and accessories that resonate with a broad global audience, creating iconic products and experiences made for a

growing global demographic to feel comfort, softness, warmth, and confidence. The Teva brand emphasizes modern

outdoor versatility, responsible materials, and elevated design.

We continually evaluate the effectiveness of our marketing investments and adjust our strategies to align with

evolving consumer behaviors and marketplace trends.

Manufacturing and Supply Chain

The production of our finished goods is outsourced to independent manufacturers, the majority of which are in

Southeast Asia. During the year ended March 31, 2026, production of our finished goods was predominantly from

Vietnam and Indonesia, while less than 5% was from China or any other individual country. We continue to diversify

our independent manufacturers and the regions in which they operate.

Production by our independent manufacturers is performed in accordance with our detailed product specifications

and rigorous quality control and operating compliance standards. We maintain a buying office in Hong Kong, as well

as on-site supervisory offices in Vietnam, China, and Indonesia, which collectively serve as a strong link to our

independent manufacturers. We believe our substantial regional presence enhances our manufacturing processes

by providing predictability of material availability and ensuring adherence to quality control standards and final

design specifications.

We generally purchase products from independent manufacturers on the basis of individual purchase orders, rather

than maintaining long-term purchase commitments, which provides us greater flexibility to adapt to changing

consumer preferences, shifts in economic conditions, changes in international trade relations, and evolving

inventory management requirements.

The majority of the raw materials and components used in the production of our products by our independent

manufacturers are purchased from independent suppliers that we designate (designated suppliers), who work with

subcontractors that extract, process, or convert these raw materials.

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Sheepskin used to manufacture a significant portion of our UGG brand products is sourced primarily from Australia

and processed by two tanneries in China. We currently enter into fixed purchasing contracts with designated

suppliers of sheepskin and sugarcane-derived ethylene-vinyl acetate (sugarcane-derived EVA) to manage price

volatility and ensure availability. Excluding sheepskin, UGGplush, UGGpure, sugarcane-derived EVA, and certain

branded components, we believe that substantially all raw materials and components used to manufacture our

products are generally available from multiple sources at competitive prices. While alternative materials may be

available for certain branded components, which may be limited, such alternatives would not include the same

trademarks. We believe current supplies are sufficient to meet our anticipated demand for the next 12 months.

Refer to the subsection titled “Contractual Obligations” under the section “Liquidity” within Part II, Item 7,

“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 8,

“Commitments and Contingencies,” of our consolidated financial statements in Part IV within this Annual Report for

further information on our purchase obligations.

We require our independent manufacturers and designated suppliers to adopt our Ethical Supply Chain Supplier

Code of Conduct (Supplier Code of Conduct), which requires them to comply with all local laws and regulations

governing human rights, working conditions, anti-corruption, restricted substances, and environmental compliance,

including animal welfare and conflict minerals, before we are willing to conduct business with them. Refer to the

section titled “Environmental, Social, and Governance” below for further information.

Inventory Management and Product Returns

We have an extended design and manufacturing process, which involves product designs, the purchase of raw and

other materials, inventory accumulation, the subsequent sale of finished product, and the collection of resulting

accounts receivable. This production cycle results in significant liquidity requirements and working capital

fluctuations throughout our fiscal year. Because the cycle typically involves long lead times, which requires us to

make manufacturing decisions several months in advance of anticipated customer demand, it is challenging for us

to accurately estimate and manage our inventory and working capital requirements.

We manage our inventory levels by considering existing orders, as well as forecasted sales and budgets by brand

for both the wholesale and DTC channels, taking into account customer delivery requirements. Our systems and

processes are designed to improve our product planning and forecasting, inventory control and supply chain

management capabilities, including our Company-owned e-commerce websites. In addition, added discipline

around SKU productivity, product purchasing decisions, lead time reduction, and selling excess inventory through

our liquidation channels, are key areas of focus that have enhanced inventory performance, including higher

inventory turnover, and partially mitigated product cost increases.

We encourage our customers to place a significant portion of orders through pre-season programs, which are

typically placed up to 12 months prior to shipment, while also allowing for in-season replenishment orders. These

pre-season programs enable us to better plan our production schedules, inventory levels, and shipping

requirements.

Our general practice, consistent with industry standards, 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.

Refer to the section titled “Liquidity” within Part II, Item 7, “Management’s Discussion and Analysis of Financial

Condition and Results of Operations,” within this Annual Report for further information on our liquidity.

Environmental, Social, and Governance

As a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, our

worldwide reach and impact is significant. We believe consumers are increasingly buying brands that deliver quality

products while striving for minimal environmental impact by employing sustainable business practices. Our

sustainability policies and strategies are informed by our ongoing efforts with multi-stakeholder initiatives, which

involve our stockholders, employees, suppliers, and customers, as well as other brands and non-governmental

organizations.

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Through our holistic ESG program, we are committed to advancing our sustainable business initiatives. As a result

of our efforts, during fiscal year 2026, we were recognized as a Net Zero Leader by Forbes, by Wall Street Journal

as one of the Best-Managed Companies and by Newsweek as one of America’s Most Responsible Companies, one

of the World’s Greenest Companies and one of America’s Most Charitable Companies.

ESG Oversight. Our Corporate Responsibility, Sustainability & Governance Committee (Corporate Governance

Committee) is comprised of four independent members of our Board of Directors (Board) who oversee our ESG

strategy and have ultimate oversight over all sustainability initiatives, strategies, and programs, including those

related to climate change, human rights, community engagement, charitable giving, and belonging. The Corporate

Governance Committee and Board regularly receive updates on the status of our ESG program. In addition, the

Audit & Risk Management Committee (Audit Committee) of the Board periodically assesses risk management,

including climate-related risks and policies, to ensure a consistent corporate strategy. The Board considers whether

the ESG program adequately identifies material risks in a timely fashion, implements appropriate responsive risk

management strategies, and ensures that management transmits necessary information with respect to material

risks within the organization. Our Chief Administrative and Legal Officer (CALO) is responsible for the day-to-day

management of our ESG program. The program’s execution is driven by our leadership team and various cross-

functional teams including our ethical sourcing, facilities, warehouses and DCs, brands, innovation, materials, and

supply chain teams.

Our ESG program aligns our internal teams with our Sustainable Development Goals (SDGs), which we adopt to

guide our ESG strategy, and establishes policies to encourage our partners and suppliers to employ sustainable

business practices. We annually assess risks related to ESG issues as part of our overall enterprise risk

management approach. In addition, our internal audit team provides periodic targeted reviews of our ESG-related

policies and procedures to the Audit Committee.

Sustainable Development Goals. We work to establish SDGs that we believe are the most relevant to our

business, our operations, our stockholders, and the communities in which we operate. We are a member of the

United Nations Global Compact (UNGC), the world’s largest voluntary corporate sustainability initiative. This

membership requires an annual statement of progress, which is reflected in our Corporate Responsibility and

Sustainability Report (Creating Change Report). Our CALO identifies specific SDGs established by the UNGC,

which we adopt to guide our ESG strategy.

Our annual Creating Change Report for fiscal year 2026, which will be published in calendar year 2026, will provide

more information regarding our fiscal year 2026 ESG achievements with a focus on the SDGs. In addition, during

fiscal year 2026, we adopted a comprehensive Climate Transition Plan, reflecting our commitment to proactive

environmental stewardship.

We recognize that agility and continuous improvement are essential to advancing our global ESG strategy, enabling

us to respond effectively to evolving challenges and opportunities in sustainability. To that end, we have aligned the

reporting standards included in our Climate Transition Plan to the Transition Plan Taskforce and our Creating

Change Report with various frameworks including the Financial Stability Board’s Task Force on Climate-Related

Financial Disclosures (commonly referred to as TCFD), Global Reporting Initiative’s (commonly referred to as GRI)

Core Standards, and Sustainability Accounting Standards Board’s (commonly referred to as SASB), and now part of

the International Finance Reporting Standard (or IFRS) Foundation Consumer Goods Sector Apparel, Accessories

and Footwear Index.

Stakeholder Engagement. We highly value stakeholder input and have consistently demonstrated our commitment

to maintaining open and interactive dialogue on ESG matters with our stakeholders, including non-governmental

organizations, employees, stockholders, suppliers, industry groups, communities, and governments, to ensure their

views are actively considered in executing our ESG program. Our stakeholder outreach program is led by a cross-

functional team that includes members of our investor relations, compliance, sustainability, and legal teams.

Additionally, we actively engage with our employees to obtain valuable feedback and track progress, including

through regular employee engagement surveys.

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Human Capital - Our People and Our Culture

Employees. As of March 31, 2026, we employed approximately 6,000 global employees, reflecting an increase of

9.1%, compared to March 31, 2025. This includes approximately 2,200 employees in our retail stores but excludes

temporary and seasonal employees.

Culture. Our key values, which guide our journey onward together to improve our business and create a better

world around us, and help hold us accountable to deliver on this purpose, are as follows:

Our values define our Company and serve as the driving force behind how we work together and with our

customers, consumers, partners, suppliers, and communities. We also have detailed policies that support our

commitment to ethical behavior and legal compliance across our Company. Through our open-door policy and

culture, employees are encouraged to approach their managers if they believe violations of standards or policies

have occurred and are able to make confidential and anonymous reports using a 24/7 online or telephone hotline

hosted by an independent third-party provider.

At Deckers, we believe our culture makes us unique. We regularly conduct employee surveys to understand our

employees’ experiences on a variety of topics focused on employee engagement. Our latest survey completed in

August 2025 had a participation rate of 92.3%. Of those employees who completed the survey, 88.4% noted they

were proud to work for Deckers.

We believe an inclusive workplace that promotes belonging for everyone brings together those with a unique set of

experiences, opinions, and thoughts on critical issues. In turn, these varied perspectives enhance our business and

drive better outcomes. Our people are at the center of everything we do. Their perspectives and passion for

innovation enable us to build brands and create products that people around the world love. We strive to create an

environment where employees can come as they are and are free to bring their authentic selves to work every day.

We publish workforce metrics in our annual Equal Employment Opportunity filing (EEO-1) which is publicly available

at deckers.com/responsibility/policies. The content of our website, including our annual EEO-1 filing, is not

incorporated by reference into this Annual Report or in any other report or document we file with the SEC.

Charitable Giving and Volunteering. Our charitable contributions, product donations, and employee volunteer

efforts are an essential part of our culture. We annually contribute to our local communities through monetary

donations, volunteer efforts, and in-kind donations. During fiscal year 2026, we donated over $5,400 to various non-

profit organizations around the globe, primarily to organizations focused on uplifting youth, community, belonging,

education, and the environment. We also continued our Art of Kindness events, where employees volunteer during

a week-long event in our local communities. Despite having only one event during fiscal year 2026, our employees

volunteered approximately 10,500 hours. Our strategic giving and community-engagement efforts continued to be

aligned with our SDGs.

Talent Development and Retention. The ability to attract, develop, and retain employees is critical to our long-term

success. We focus on our employees’ growth, creating experiences that align with our strategic priorities and

promote inclusion, performance, connection, and opportunities for development. For example, we offer a week fully

dedicated to employee learning, connection, and development across the globe (Explore Week), and four global

leadership development programs for leaders at varying levels (Voyagers, Trailblazers, Navigator, and Ascent).

Further, our executive leadership team and Board commit substantial time to succession planning, evaluating the

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bench strength of our leadership and supporting their career development while improving organizational

performance. We are proud to offer a wide range of programs intended to support global employee development

and retention.

We have demonstrated a history of investing in our workforce by offering competitive salaries and wages. We

provide tuition reimbursement for eligible US employees up to $5 thousand per calendar year. Further, to foster a

stronger sense of ownership and align the interests of management with stockholders, equity awards are granted to

a substantial proportion of our leadership team. In addition, employees across the US business have the opportunity

to purchase stock at a discounted price through our Employee Stock Purchase Plan. Further, we engage an

independent compensation consultant, FW Cook, which provides us with information to evaluate the effectiveness

of our executive compensation program, including competitive pay practices and trends in our industry, the design

and structure of our executive compensation program, and the formulation of and benchmarking against our peers

within our industry.

Employee Wellness. We strive to be one of the best places to work and recognize our employees are at different

stages of life and have individual needs. We offer affordable, innovative, comprehensive, and competitive benefits

package that range from health insurance, retirement plan, life insurance, disability, accident coverage, paid time

off, paid and unpaid leave including parental leave, mental health benefits, and other voluntary benefits such as

health savings accounts and our solar and electric car reimbursement program.

Employee Health and Safety. The health and safety of our employees is our highest priority. We have

comprehensive safety training programs to help ensure our employees know how to do their jobs safely and in

compliance with laws and regulations. We prioritize the safety of our facilities and work to ensure they are modern

and efficient.

Seasonality

A significant part of the UGG brand’s business has historically been seasonal, with the highest percentage of net

sales occurring in the third fiscal quarter, which has contributed to variation in results of operations from quarter to

quarter. However, as the HOKA brand’s net sales have increased as a percentage of our aggregate net sales, the

impacts of seasonality have been partially mitigated as HOKA brand sales are generally more evenly distributed

throughout the fiscal year, although quarterly results may fluctuate based on the timing of product launches. This

trend is expected to continue. In addition, we have further mitigated the impacts of seasonality by diversifying and

expanding our year-round product offerings across our brands.

Refer to Part I, Item 1A, “Risk Factors,” and Part II, Item 7, “Management’s Discussion and Analysis of Financial

Condition and Results of Operations,” within this Annual Report for further discussion of the impacts of seasonality.

Competition

The industry and markets in which we operate are highly competitive. Our competitors include fashion, casual,

lifestyle, and athletic footwear companies, branded apparel companies, and retailers with their own private labels.

Although the industry is fragmented, some of our competitors are larger and have substantially greater resources,

and several sell products that compete directly with our products. In particular, we face competition from domestic

and international competitors selling products designed to compete directly or indirectly with products similar to

those of our HOKA brand and UGG brand. In addition, access to offshore manufacturing and the growth of e-

commerce have made it easier for new companies to enter the markets in which we compete, further increasing

competition in the footwear, apparel, and accessories industry.

We believe our ability to successfully compete depends on numerous factors, including our ability to predict, assess,

and respond quickly to changing consumer tastes and preferences, produce exceptional and innovative products

that meet expectations for product craft, quality and technical performance, maintain and enhance the image and

strength of our brands, price our products competitively, and manage the impacts of supply chain disruptions. In

addition, we believe our key customers face intense competition from other department stores, sporting goods

stores, retail specialty stores, and online retailers, among others, which could negatively impact the financial stability

of their businesses and their ability to conduct business with us. Refer to Part I, Item 1A, “Risk Factors,” within this

Annual Report for further discussion of the potential impact of competition on our business.

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Trademarks and Patents

We utilize trademarks for virtually all our products, and we believe having distinctive marks that are readily

identifiable is an important factor in establishing and maintaining a market for our products, promoting our brands,

and distinguishing our products from the products of others. We currently hold trademark registrations for “HOKA,”

“UGG,” and “Teva,” and other marks in the US, and for certain of the marks in many other countries, including

Canada, China, the United Kingdom (UK), various countries in the European Union (EU), Japan, and Korea. As of

March 31, 2026, we hold 201 designs and inventions with corresponding design or utility patent registrations, plus

29 designs and inventions which are currently pending registration. These patents expire at various times. Current

figures reflect natural expiration and strategic portfolio rationalization undertaken during the current period. We

regard our proprietary rights as valuable assets and vigorously protect such rights against infringement by third

parties.

Government Regulation

We are subject to a wide range of laws and regulations, including US federal, state, and local laws; the laws of

jurisdictions where we operate or plan to operate; and the laws of jurisdictions from which we source our products.

Based on the information and circumstances known to us at this time, compliance with such applicable laws and

regulations is not expected to have any material effect on our business, results of operations, financial condition, or

competitive position.

Available Information

Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, proxy statements

and information statements (and any amendments or supplements to the foregoing) filed with or furnished to the

SEC pursuant to the Exchange Act are available free of charge on our website at ir.deckers.com. Such documents

and information are available as soon as reasonably practicable after they are filed with or furnished to the SEC. We

also make certain corporate governance and responsibility documents available through our website at

ir.deckers.com/governance, deckers.com/responsibility, and deckers.com/responsibility/policies, respectively,

including Ethical Supply Chain Supplier Code of Conduct, Audit & Risk Management Committee Charter, Talent &

Compensation Committee Charter, Corporate Responsibility, Sustainability, & Governance Committee Charter,

Code of Ethics, Creating Change Report, Climate Transition Plan, Accounting and Finance Code of Ethics, EEO-1

Report, and Corporate Governance Guidelines. The information contained on or accessed through our website

does not constitute part of this Annual Report, and references to our website address within this Annual Report are

inactive textual references only.