<SEC-DOCUMENT>0000930413-17-003636.txt : 20171026
<SEC-HEADER>0000930413-17-003636.hdr.sgml : 20171026
<ACCEPTANCE-DATETIME>20171026160516
ACCESSION NUMBER:		0000930413-17-003636
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20171026
DATE AS OF CHANGE:		20171026
EFFECTIVENESS DATE:		20171026

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DECKERS OUTDOOR CORP
		CENTRAL INDEX KEY:			0000910521
		STANDARD INDUSTRIAL CLASSIFICATION:	RUBBER & PLASTICS FOOTWEAR [3021]
		IRS NUMBER:				953015862
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36436
		FILM NUMBER:		171156337

	BUSINESS ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117
		BUSINESS PHONE:		8059677611

	MAIL ADDRESS:	
		STREET 1:		250 COROMAR DRIVE
		CITY:			GOLETA
		STATE:			CA
		ZIP:			93117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DECKERS FOOTWEAR CORP
		DATE OF NAME CHANGE:	19930811
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>c89616_8k.htm
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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">Washington, D.C. 20549<BR>
_____________________<BR>
<BR>
FORM 8-K<BR>
_____________________</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of report (Date of earliest event reported):
<B>October 26, 2017</B></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 10pt 0 6pt; text-align: center">DECKERS OUTDOOR CORPORATION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Exact Name of
Registrant as Specified in its Charter)</FONT><BR>
_____________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DELAWARE</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or Other Jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Incorporation)</P></TD>
    <TD STYLE="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>001-36436</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>95-3015862</B></P>
        <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(I.R.S. Employer Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>250 Coromar Drive</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Goleta, California </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>93117</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Zip Code)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant's telephone number including area
        code: <B>(805) 967-7611</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-align: center"><B>No change since last report</B></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Address, if Changed Since Last
        Report)</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0"><FONT STYLE="font-size: 9pt">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:</FONT><BR>
<BR>
[_] <FONT STYLE="font-size: 9pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT><BR>
<BR>
[X] <FONT STYLE="font-size: 9pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT><BR>
<BR>
[_] <FONT STYLE="font-size: 9pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT><BR>
<BR>
[_] <FONT STYLE="font-size: 9pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 9pt">Emerging growth
company&nbsp;</FONT>[_]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 1.5pt double"><FONT STYLE="font-size: 9pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </FONT>[_]<FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>Section 8 &ndash; Other Events</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.01.</B></TD><TD><B>Other Events.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On October 26, 2017, Deckers
Outdoor Corporation (the &ldquo;Company&rdquo;) issued a press release announcing that the Company&rsquo;s Board of Directors
(the &ldquo;Board&rdquo;) approved a new plan to repurchase up to $335 million of the Company&rsquo;s outstanding stock,
which amount is in addition to the $65 million remaining under the Company&rsquo;s current repurchase authorization. This
results in a total repurchase authority of $400 million. In addition, the Company announced that although the Board remains
open to considering strategic and financial alternatives as part of its ongoing efforts to enhance stockholder value, the
Board will not actively pursue a sale of the entire company at this time. A copy of the press release is filed as Exhibit
99.1 and is incorporated by reference.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>Section 9 &ndash; Financial
Statements and Exhibits</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">99.1</TD><TD><A HREF="c89616_ex99-1.htm" STYLE="-sec-extract: exhibit">Press Release, dated October 26, 2017</A>.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 24pt 0 0 3.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt"><B>DECKERS OUTDOOR CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 37%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 0.5pt solid"><FONT STYLE="font-size: 11pt">/s/ Thomas Garcia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">Thomas Garcia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">General Counsel</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0">Dated:&#9;October 26, 2017</P>


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<P STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

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    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 1.5pt"><FONT STYLE="font-size: 11pt"><U>Exhibit No.</U></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 1.5pt"><FONT STYLE="font-size: 11pt"><U>Exhibit</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 1.5pt"><FONT STYLE="font-size: 11pt">99.1</FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 1.5pt"><FONT STYLE="font-size: 11pt">Press Release, dated October 26, 2017.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Deckers Brands Announces $400 Million Stock
Repurchase Authority </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>and Concludes Review of Potential Sale</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">GOLETA, Calif. &ndash; October 26, 2017 &ndash; Deckers Brands (NYSE:
DECK), a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, announced today that
its Board of Directors has authorized a new $335 million stock repurchase program, in addition to the $65 million remaining under
Deckers&rsquo; current authorization, for a total of $400 million. This represents approximately 20% of the current market capitalization.
Deckers also today announced the completion of its review of a potential sale of the company. The Board remains open to considering
strategic and financial alternatives as part of its ongoing efforts to enhance stockholder value but will not actively pursue a
sale of the entire company at this time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">With the assistance of its advisors, Moelis &amp; Company LLC and
Wilson Sonsini Goodrich &amp; Rosati, Professional Corporation, the Board of Directors undertook a thorough and wide-ranging process
to consider potential interest in an acquisition of Deckers. As part of that process, Deckers and its advisors contacted 90 potential
acquirers, including strategic and financial parties, both domestic and international, but this effort did not result in a transaction.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&ldquo;Beginning in April, our Board of Directors conducted a comprehensive
process to understand the level of interest in an acquisition of the company. Although we are no longer actively pursuing a sale
of Deckers, we remain open to considering strategic alternatives that would drive stockholder value,&rdquo; said John Gibbons,
Chairman of the Board.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Mr. Gibbons added, &ldquo;We are continuing to focus on the execution
of Deckers&rsquo; long-term business optimization plan. We stand fully behind Deckers&rsquo; strategic plan, portfolio of iconic
brands, ongoing cost improvement initiatives, and leadership team. The Board is focused on enhancing stockholder value and approaches
that objective with an open mind. To that end, today we are announcing an increase in our total stock repurchase authorization
to $400 million. This increased authorization is aligned with our long-range profit improvement plan. We expect to complete the
full $400 million of repurchases by year-end fiscal 2020. Further, we are targeting completing approximately $100 million worth
of repurchases prior to the end of March 2018. The strength of our balance sheet and our conviction in our future prospects makes
this an appropriate time to repurchase stock and return capital to stockholders.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As previously announced, Deckers is executing on a focused strategy
to drive enhancements in its business through streamlining its cost structure. The company continues to aggressively move forward
with its $100 million operating profit improvement plan: in fiscal year 2018, Deckers expects to improve profitability by over
$20 million, and is targeting progressive improvements in profitability each year through fiscal year 2020. To achieve this, Deckers
is taking a number of actions to improve its gross profit margins, as well as its corporate overhead expense structure.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Dave Powers, President and Chief Executive Officer, commented, &ldquo;Our
strategic initiatives position us well to achieve the operating profit targets established for fiscal 2018 and longer-term. We
continue to focus on driving improvements in the business through streamlining our cost structure. Our aim is to</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">repurchase stock while continuing to improve our operating profit,
which simultaneously returns capital to stockholders and positions Deckers for long-term growth.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The stock repurchases will be funded through domestic cash flows,
and supplemented by modest incremental leverage.&nbsp; The Board believes that the business can conservatively support a debt to
EBITDA ratio of 1x, while also providing significant flexibility to support Deckers&rsquo; growth initiatives and seasonal working
capital needs. The stock repurchase program will accelerate Deckers&rsquo; EPS growth while the $100 million operating profit improvement
plan is implemented.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The timing of the purchases and the amount of stock repurchased will
depend on market and business conditions, stock price, applicable legal requirements and other factors. Purchases may be affected
through one or more open market transactions, transactions structured through investment banking institutions, or a combination
of the foregoing. Deckers is not obligated under the program to acquire any particular amount of stock and can suspend or terminate
the program at any time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About Deckers Brands</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Deckers Brands is a global leader in designing, marketing and distributing
innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities.
The Company&rsquo;s portfolio of brands includes UGG<SUP>&reg;</SUP>, Koolaburra<SUP>&reg;</SUP>, HOKA ONE ONE<SUP>&reg;</SUP>,
Teva<SUP>&reg;</SUP> and Sanuk<SUP>&reg;</SUP>. Deckers Brands products are sold in more than 50 countries and territories through
select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned
websites. Deckers Brands has a 40-year history of building niche footwear brands into lifestyle market leaders attracting millions
of loyal consumers globally. For more information, please visit <FONT STYLE="color: rgb(53,0,254)"><U>www.deckers.com</U></FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On October 19, 2017, Deckers Outdoor Corporation (&ldquo;Deckers&rdquo;)
filed a revised preliminary proxy statement in connection with its 2017 Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;).
Prior to the Annual Meeting, Deckers will furnish a definitive proxy statement to its stockholders, together with a WHITE proxy
card. STOCKHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Detailed information regarding the
names, affiliations and interests of individuals who are participants in the solicitation of proxies of Deckers&rsquo; stockholders
is available in Decker&rsquo;s revised preliminary proxy statement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Stockholders may obtain, free of charge, Deckers&rsquo; revised
preliminary proxy statement, any amendments or supplements thereto and other relevant documents filed by Deckers with the Securities
and Exchange Commission (the &ldquo;SEC&rdquo;) in connection with the Annual Meeting at the SEC&rsquo;s website (<FONT STYLE="color: rgb(53,0,254)"><U>www.sec.gov</U></FONT>).
Copies of Deckers&rsquo; definitive proxy statement, any amendments and supplements thereto and any other relevant documents filed
by Deckers with the SEC in connection with the Annual Meeting will also be available, free of charge, at Deckers&rsquo; website
(<FONT STYLE="color: rgb(53,0,254)"><U>www.deckers.com</U></FONT>) or by writing to Investor Relations, Deckers Outdoor Corporation,
250 Coromar Drive, Goleta, CA 93117. In addition, copies of these materials may be requested, free of charge, from Deckers&rsquo;
proxy solicitor by writing to Innisfree M&amp;A Incorporated, 501 Madison Avenue, New York, NY 10022, or calling toll-free to
(877) 750-0625.</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This press release contains &ldquo;forward-looking statements&rdquo;
within the meaning of the federal securities laws, which statements are subject to considerable risks and uncertainties. These
forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in this
press release, including statements regarding our cost savings initiatives and timing and other matters related to our stock repurchase
plans. We have attempted to identify forward-looking statements by using words such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo;
&ldquo;could,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo;
&ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; or &ldquo;would,&rdquo; and similar expressions
or the negative of these expressions.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Forward-looking statements represent our management&rsquo;s current
expectations and predictions about trends affecting our business and industry and are based on information available as of the
time such statements are made. Although we do not make forward-looking statements unless we believe that we have a reasonable basis
for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown
risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different
from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the
risks and uncertainties that may cause our actual results to materially differ from those expressed or implied by these forward-looking
statements are described in the section entitled &ldquo;Risk Factors&rdquo; in our Annual Report on Form 10-K for the fiscal year
ended March 31, 2017, as well as in our other filings with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Except as required by applicable law or the listing rules of the
New York Stock Exchange, we expressly disclaim any intent or obligation to update any forward-looking statements, or to update
the reasons actual results could differ materially from those expressed or implied by these forward-looking statements, whether
to conform.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Investor Contact:</B><BR>Deckers Brands<BR>Steve Fasching<BR>VP, Strategy &amp; Investor Relations<BR>805.967.7611</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">or</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Media Contact:</B><BR>Joele Frank, Wilkinson Brimmer Katcher<BR>Eric Brielmann / Amy Feng<BR>415.869.3950</P>


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