Shares for Hoka and Ugg parent company Deckers Brands sank nearly 14 percent in after-market trading on Thursday after the footwear maker issued first quarter guidance below expectations due to uncertainty around Trump’s tariffs.

In the fourth quarter of fiscal 2025, the company reported a net sales increase of 6.5 percent to $1.02 billion compared to $959.76 million the same time last year. Net income for Q4 was $151.41 million, or $1.00 per diluted share, up from $127.55 million, or 82 cents per diluted share, the prior year.

By brand, Hoka led the way in Q4 with net sales of $586.1 million, a 10.0 percent increase compared to $533.0 million the same time last year. At Ugg, net sales increased 3.6 percent to $374.3 million compared to $361.3 million last Q4. Deckers’ “Other” brands division – which includes the Teva, Ahnu, and Koolaburra brands – saw net sales decrease 6.3 percent to $61.3 million compared to $65.5 million.

As for wholesale, Deckers said that net sales in the channel increased 12.3 percent in Q4 to $611.6 million compared to $544.6 million, while the direct-to-consumer channel saw net sales dip 1.2 percent to $410.2 million compared to $415.2 million the same time last year.

For the full fiscal year 2025, net sales increased 16.3 percent to $4.99 billion compared to $4.29 billion in fiscal 2024. Net income for the year was $966.09 million, or $6.33 per diluted share, up from $726.56 million, or $4.86 per diluted share, last year.

By brand, Hoka saw net sales increase 23.6 percent in 2025 to $2.23 billion compared to $1.81 billion last year. At Ugg, net sales increased 13.1 percent to $2.53 billion compared to $2.24 billion. And at the company’s “Other” brands division, net sales decreased 8.6 percent to $221.2 million compared to $241.9 million last year.

By channel, wholesale net sales increased 17.4 percent to $2.86 billion compared to $2.43 billion, while direct-to-consumer net sales increased 14.8 percent to $2.13 billion compared to $1.86 billion in 2025.

Stefano Caroti, president and chief executive officer of Deckers Brands, said in a statement that the company “delivered another exceptional year of results” in fiscal 2025, highlighted by the Hoka and Ugg brands.

 “While the global trade environment has introduced greater near-term uncertainty, we are very confident in the exciting opportunities ahead for Hoka and Ugg,” Caroti said. “We view these brands as industry leaders, each with iconic and innovative products that operate in differentiated marketplaces. Alongside Deckers’ superb balance sheet, this positions us well to manage through the near-term with a focus on the long-term.”

Looking ahead, Deckers Brands said it will not be providing full year guidance for fiscal 2026 “given the macroeconomic uncertainty related to evolving global trade policies.”

The company did, however, issue guidance for the first quarter of fiscal 2026 on Thursday. In Q1, Deckers expects net sales to be between $890 million and $910 million in the period, and earnings per diluted share between 62 cents and 67 cents. This is below analysts’ expectations, which are calling for net sales for Q1 between $880 million and $973 million, according to Yahoo Finance.