德克斯户外 2024年度报告

AnnualReport2025 Dear Stockholders, As I reflect on my first year as CEO, I am incredibly proud of the progress made by the outstandingteams across the Deckers organization in fiscal year 2025. Our commitment to our long-term strategy,guided by our consumer-first approach and unique products that blend technology and comfort, droverecord breaking results. In fiscal year 2025, we delivered our highest-ever earnings per share, rising 30% above the prior year,with revenue climbing 16% year-over-year to nearly $5 billion – our fifth consecutive year of double-digitgrowth in both areas. Anchored by the continued strength of HOKA and UGG, our disciplinedmarketplace management produced operating margin of 23.6%, a 200-basis-point improvement overthe prior year. We leveraged our strong balance sheet to repurchase $567 million in Deckers shares infiscal year 2025, and in May 2025 our Board of Directors approved an increase of $2.25 billion to oursharerepurchase program authorization,furthering our ability to continue returning capital tostockholders. HOKA and UGG remain two of the most in-demand and consumer-loved brands in the footwearindustry, and both continued to capture market share as a result of our efforts to build brandawareness, elevate our products, and create meaningful connections with consumers around theworld. •HOKA continued to be our fastest growing brand in fiscal year 2025, with revenue increasing24% versus the prior year to $2.2 billion. Consumers migrating toward active lifestylespresents a tremendous opportunity for HOKA, expanding its total addressable market in theUS and internationally. We are seeing momentum from recent technology upgrades to our topfranchises, reflecting our relentless focus on delivering disruptive innovations that resonatewith consumers.•UGG delivered an outstanding fiscal year 2025, growing revenue by 13% versus the prior yearto $2.5 billion. The UGG brand’s iconic designs and elevated presence across regions,channels, and categories led to significant gains in consumer acquisitions and retention. Weare continuing to lean into our global opportunity to drive year-round wearability, grow theadoption of men’s products, and extend the wins we are seeing with key styles. We are entering fiscal year 2026 with a strong foundation, underpinned by the power of our industry-leadingbrands,best-in-class operating model,and fortified balance sheet.Despite increasedmacroeconomic uncertainty, our Board and leadership team remain confident in Deckers’ long-termgrowthstrategy,leaning on our agile marketplace operations,disciplined cost structure,andpersistent innovation that can help us outpace a constantly evolving consumer landscape. Deckers’ success is made possible by our remarkable employees. Our team’s passion for our brands isevident daily, and I am proud of their dedicated work to build our future. I would also like toacknowledge Cindy Davis, our newly appointed Board Chair. Cindy has contributed tremendous value asa director on our Board over the past seven years, and her leadership will support the Board’soversight of our continued growth and strategic execution. We thank Mike Devine for his more thanfourteen years of service to Deckers, including his incredible leadership as Chair for six years. Deckers is in the early miles of a long-distance run. We are off to an excellent start, and we are wellequipped to continue on our path of growth and value creation. I am excited about the opportunitiesahead to deliver value for our consumers and stockholders over the long-term. Thank you for yourongoing interest in Deckers. Sincerely, Stefano CarotiChief Executive Officer and President UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-K (Mark One)☒Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended March 31, 2025 ☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period fromto Commission File Number: 001-36436 DECKERS OUTDOOR CORPORATION (Exact name of registrant as specified in its charter) Delaware 95-3015862 (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 250 Coromar Drive, Goleta, California 93117(Address of principal executive offices) (805) 967-7611(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon Stock, par value $0.01 per shareDECKNew York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) ofthe Act.Yes☐No☒ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section