Hoka-owner Deckers Outdoor falls after maintaining annual sales forecast
BUZZ-Hoka-owner Deckers Outdoor falls after maintaining annual sales forecast ** Shares of Hoka-owner Deckers Outdoor DECK.N down ~3% at $93.50 premarket
** Co kept its annual sales forecast unchanged on Thursday
** DECK expects full-year profit in the range of $7.35 to $7.50 per share, reflecting a rise of 5 cents vs prior forecast; analysts estimate profit of $7.50 per share - LSEG data
** Co reaffirms forecast for fiscal 2027 sales of $5.86 billion to $5.91 billion
** "Our second-quarter gross margin is expected to be down due to tariffs and rising freight costs," CFO Steven Fasching says
** While DECK's investments are expected to accelerate sales growth over time, they add some near-term cost pressure in a volatile and uncertain consumer environment, Telsey Advisory Group says
** Brokerage maintains "market perform" rating and cuts PT to $105 from $113 citing weaker-than-expected Q2 forecast
** Co posts Q1 sales of $1.02 billion in line with analysts' estimates
** Up to last close, stock down about 7% YTD
(Reporting by Anuja Bharat Mistry in Bengaluru)