Why the Stock Price of the Maker of Hoka and Ugg Footwear Plunged Friday
Key Takeaways
- Deckers Outdoor shares were down nearly 20% Friday afternoon, despite the fact that the shoemaker reported fiscal third-quarter earnings that topped analysts’ expectations late the day before.
- Deckers, which sells Hoka, Ugg, and Teva shoes, is facing questions from some analysts about demand for its footwear.
- Deckers executives said they expect their top shoe brands to remain sought-after, and at least one analyst agreed.
Deckers Outdoor (DECK) shares plunged Friday, despite the shoemaker reporting sales results for the latest quarter that beat analysts’ estimates.
The company, which sells Hoka, Ugg, and Teva footwear, told investors late Thursday that the company doesn’t see demand flagging for its most sought-after…
