Why the Stock Price of the Maker of Hoka and Ugg Footwear Plunged Friday
1. Deckers shares fell 19% despite strong earnings report surpassing estimates. 2. Fiscal Q3 sales hit a record $1.83 billion, up 17% year-over-year. 3. Full-year sales outlook raised to $4.9 billion, up from previous $4.7 billion. 4. Analysts view investor concerns about demand as misplaced; UBS raised price target. 5. Hoka and Ugg brands expected to maintain strong demand and sales growth.