Deckers Outdoor Corp (DECK) shares plummeted 15.14% in a 24-hour period, following the company's release of its fourth-quarter results and first-quarter outlook. Despite reporting strong Q4 performance that beat analysts' expectations, investors were rattled by the company's weaker-than-anticipated guidance for the upcoming quarter and its decision to withhold full-year projections.

For the first quarter, Deckers expects net sales to be in the range of $890 million to $910 million, falling short of the consensus estimate of $925.9 million. The company also forecasts diluted earnings per share between $0.62 and $0.67, significantly below analysts' expectations of $0.79 per share. Adding to investor worries, Deckers announced it would not provide full-year guidance for fiscal year 2026 due to "macroeconomic uncertainty related to evolving global trade policies."

The company cited concerns over potential impacts from tariffs, as it sources approximately 20% of its products from China. Chief Financial Officer Steven Fasching stated that Deckers expects an increase of "up to $150 million" in production costs for fiscal 2026 due to current tariff levels. The lack of long-term visibility, combined with concerns over trade tensions and potential price increases, has prompted a significant sell-off in Deckers' shares as investors reassess the company's risk profile in the current economic landscape.