3 Reasons I'm Still Not Buying This StockThis was the case Friday following Deckers Outdoor's (Nasdaq: News) fourth quarter results and fiscal 2012 forecast, which can be described only as UGG ly!The Nike Air Jordan 11 Kobe Shoes Black Yellow Redan 1 maker of the popular UGG boots posted a 40% rise in both sales and profits. Its New Nike Tr Fit Shoes Black Red dominant UGG brand grew sales by 38%, while its Teva brand saw sales rise by 46%. International sales provided the Nike 6.0 Mavrk Mid 2 Skate Shoes White Green biggest boost, rising by 82%. These results actually squeaked by Wall Street's expectations. It was the company's 2012 guidance that ripped the soles right out from investors' feet.In the upcoming year, Deckers anticipates that a combination Nike Shox NZ of rising sheepskin prices and higher costs associated with opening new stores will affect its bottom line. In the first quarter, Deckers anticipates EPS of $0.25 and full year EPS of $5.07. Both fall well short of the $0.63 and $5.82, respectively, that analysts had expected.Despite the 13% haircut last week, there are still three visible reasons I see to avoid the New Nike Tr Fit Shoes Blue stock.1. Brand Nike Lunar liabilityThis is an argument you'll see me make a lot, but Deckers is far too reliant on its UGG brand to drive growth. Based on its fourth quarter Nike Air Max results, UGG accounted for 87% of all revenue. Relying on one product to drive growth is great when that product is performing well, but a lack of diversity can also cripple the company when the tide changes.I made a similar argument with regards to Zynga (Nasdaq: News) recently. I understand Deckers and Nike Air Max Zynga are Nike Air Jordan 3 Basketball Shoes Black White Red about as apples and oranges as you can get, but with Zynga relying on Facebook for about 90% of its revenue, it wouldn't take much perhaps a readjusting of its contract or a change in consumer gaming habits to put a serious monkey wrench in its revenue stream.2. Uncontrollable costsThis isn't Deckers' first rodeo when it comes to higher costs cutting into its bottom line. For the last couple of Carbon Grey Blue Salomon S-LAB 5XT Wings years the high cost of expanding into Europe has occasionally sunk its forward guidance. Nike Air Jordan 4 Suede Shoes Navyan 4 Another aspect of Deckers' business is that many of its input costs, like sheepskin, are completely out of its control.Similarly, Crocs (Nasdaq: News) also fell victim to weak first quarter guidance on the same day as Deckers Outdoor predominantly because of its aggressive overseas expansion, but also because of rising expenses. Even though Crocs says it has more than 300 products, its products remain very centralized around the design that made Crocs popular in the first place.Not surprisingly, Nike (NYSE: News) has also had to deal with rising input costs. But because of a wide variety of products and a loyal Nike Air Jordan 3 Basketball Shoes White Blackan 3 customer base, it Cheap 616175-700 Nike LeBron 11 Black Moon Silver Shoes South Beach Custom has had no trouble in passing along price increases to consumers.3. Fickle consumer trendsNo one likes this argument, but I'm going to put Air Jordan Outlet it out there again, nonetheless UGG boots are at risk of becoming a fad. Consumer trends are incredibly difficult to predict. Styles change with the season, and the willingness of consumers to spend their money can practically change overnight. I do, however, feel that Deckers' overreliance on the brand coupled with its aggressive expansion could yield a few more subpar quarters to come. Since making a CAPScall of underperform on Deckers, I am up 42%, and I don't see any reason why this call won't continue to move in that direction.The Motley Fool owns shares of Gap. Motley Fool newsletter services have recommended buying shares of Deckers Outdoor and Nike, as well as creating a diagonal call position in Nike. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse 2015 Nike Free 5.0 range of insights makes us better investors. The Motley Fool has a disclosure policy that always fits just right.