On October 23, 2025, Deckers Brands reported fiscal Q2 2026 results and revised its outlook downward, prompting the stock to plunge by more than 10%. Management lowered sales growth expectations for both Hoka and Ugg, and projected a drop in gross margin from 58% to 56%, raising concerns about slowing demand and profitability[1][2][3]. As of October 31, 2025, DECK is down 56% year-to-date and has suffered its largest pullback in over a decade, now trading at $81.22 pre-market after a week of steep declines. The negative sentiment is driven by the disappointing earnings and guidance, with no new major company-specific news since the Q2 report[1][2].