Even though the brand is not discounting, Hoka is finally feeling pressure from the promotional activity hitting the athletic shoe market.
According to Stefano Caroti, president and chief executive officer of Hoka parent Deckers Brands, promotional activity increased throughout the second quarter, particularly in athletic footwear. This weighed on the company’s U.S. e-commerce performance as it worked to maintain its full-price selling strategy, the CEO noted.
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“We also observed two shifts in consumer behavior,” Caroti told analysts on the company’s second quarter 2027 earnings call on Thursday. “Consumers increasingly seeking discounts, concentrating traffic around promotional events, and consumers becoming more purposeful in their spending and prioritizing products with immediate relevance and utility.”
Across the business, Hoka’s core franchises performed well, led by Bondi, Caroti noted on the call. The introduction of Clifton Pro, a well-received extension of the Clifton franchise, also contributed to that success.
However, feedback from consumers and wholesale partners indicated that some other franchise updates in calendar year 2026 “did not resonate as well,” the CEO explained.
Asked further by an analyst on Thursday’s call about which styles didn’t meet expectations, Caroti noted that sales for the Transport, Kawana and Solimar styles “didn’t go as planned” in the quarter. Instead, Hoka found success with the Speedgoat 7, Arahi 9 and Stinson 8 models, which are “doing very well across the marketplace,” he said.
“This feedback highlights where we have an opportunity to improve for future seasons, starting with spring 2027,” Caroti added. “I am very encouraged by what Robin [Green, president of Hoka] and team have crafted and created for spring/summer 2027 and fall 2027.”
The company is also looking at diversifying its price points in the future to ensure it can keep to its full-price strategy commitment. The CEO said on the call that it will be expanding Hoka’s price architecture in both directions, up and down, “broadening access while elevating the pinnacle of the brand.”
In the first half of calendar ’27, Caroti noted that Hoka will introduce two “powerful expressions” of this pricing strategy. Its new Fly Pace sneaker will launch in January at $115 and will “welcome a new consumer” into Hoka. Meanwhilte, the Bondi Ultra X will launch in June at $325, and will deliver the brand’s “softest, most cushioned ride for consumers seeking the very best.”