Why Deckers Stock Dropped Today
Shares of Deckers Outdoor (NYSE: DECK) dropped on Thursday after an analyst downgraded their outlook for the stock. Coincidentally, the company released a product update with its popular Hoka brand, but it didn't move the needle. As of 10:15 a.m. ET, Deckers stock was down 7%.
Deckers stock has performed incredibly over the last five years, rising over 400%. The success of its Hoka brand is a big part of this. In its fiscal third quarter of 2024 (which ended in December), Hoka sales surpassed $400 million and accounted for nearly 28% of the company's total sales.
This morning, Deckers announced its latest Hoka running shoe line, the Skyward X. It could help the brand keep growing, but that's not what investors are thinking about this morning.
Source Fool.com
