DECKERS OUTDOOR CORP filed this 10-K405 on March 31, 1997 10-K405 5 A recent development in the overall footwear market has been the significant growth of the outdoor segment as well as the growing emphasis on comfort. Outdoor footwear includes shoes, boots and sandals for outdoor recreational activities such as hiking, river rafting, camping and casual wear. Companies engaged in the outdoor footwear market include Nike, Reebok, Timberland, Merrell, Wolverine and Hi-Tec U.S.A. The Company believes that the