Deckers Outdoor Corporation DECK reported better-than-expected second-quarter fiscal 2023 results, wherein both the top and bottom lines grew year over year. Strength in the HOKA ONE ONE brand contributed to the company’s performance.Let’s Delve DeeperDeckers delivered quarterly earnings of $3.80 per share, which comfortably surpassed the Zacks Consensus Estimate of $3.66. The reported figure increased from the year-ago earnings of $3.66 per share.Net sales of this Goleta, CA-based company rose 21.3% year over year to $875.6 million and outpaced the Zacks Consensus Estimate of $808.3 million. On a constant-currency basis, net sales grew 24.8%. The top-line growth was driven by the UGG, HOKA ONE ONE and Teva brands.We note that the gross margin contracted 270 basis points to 48.2% during the quarter due to unfavorable foreign currency exchange rates and higher promotional activity for UGG.SG&A expenses climbed 23.1% year over year to $294.1 million. As a percentage of net sales, SG&A expenses increased 50 basis points to 33.6%.The company posted an operating income of $127.8 million, marginally down from the $128.2 million reported in the year-ago quarter. The operating margin shrunk 320 basis points to 14.6%.Deckers Outdoor Corporation Price, Consensus and EPS Surprise Deckers Outdoor Corporation price-consensus-eps-surprise-chart | Deckers Outdoor Corporation QuoteBrand-Wise DiscussionHOKA ONE ONE brand net sales surged 58.3% to $333 million. UGG brand net sales grew 6.3% to $476.5 million. Teva brand net sales increased 4.3% to $30.1 million.Net sales for the Sanuk brand declined 25.2% to $7.5 million. Net sales for Other brands, mainly comprising Koolaburra, jumped 17.9% to $28.5 million.Channel & Geography-Wise DiscussionWholesale net sales increased 16.7% year over year to $636.5 million. Direct-to-Consumer (“DTC”) net sales rose 35.3% to $239.1 million, while comparable DTC net sales jumped 38.2%.Domestic net sales increased 20% year over year to $617.7 million, while International net sales rose 24.4% to $257.9 million.Other Financial AspectsCash and cash equivalents stood at $419.3 million as of Sep 30, 2022, compared with $746.2 million as of Sep 30, 2021. The company ended the quarter with total stockholders’ equity of $1,515.8 million. There were no outstanding borrowings.During the quarter, the company repurchased about 173 thousand shares for $50.2 million. As of Sep 30, 2022, the company had $1.5 billion remaining under its share repurchase authorization.A Sneak Peek Into OutlookDeckers continues to envision fiscal 2023 net sales in the range of $3.45 billion-$3.50 billion. This suggests an increase from the $3.150 billion reported in fiscal 2022.The company continues to expect fiscal 2023 earnings in the band of $17.50-$18.35 per share. The current view compares favorably with the earnings of $16.26 per share reported last fiscal.The gross margin is now anticipated at approximately 50.5%. SG&A expenses, as a percentage of sales, are projected at about 33%, with the operating margin expected in the bracket of 17.5-18%.Shares of this Zacks Rank #3 (Hold) company have risen 35.5% in the past six months against the industry’s decline of 23.1%.3 Solid PicksHere we have highlighted three better-ranked stocks, namely Designer Brands DBI, Chico's CHS and Tapestry TPR.Designer Brands designs, manufactures and retails footwear and accessories. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Designer Brands’ current financial-year revenues and EPS suggests growth of 6.9% and 23.5%, respectively, from the year-ago reported figure. DBI has a trailing four-quarter earnings surprise of 55.1%, on average.Chico's, a Florida-based fashion company, sports a Zacks Rank #1. Chico's has a trailing four-quarter earnings surprise of 249%, on average.The Zacks Consensus Estimate for Chico's current financial-year revenues and EPS suggests growth of 19.6% and 112.5%, respectively, from the year-ago reported figure.Tapestry, a provider of luxury accessories and branded lifestyle products, sports a Zacks Rank #1. TPR has an expected EPS growth rate of 12.5% for three to five years.The Zacks Consensus Estimate for Tapestry’s current financial-year sales and EPS suggests growth of 3.5% and 11%, respectively, from the year-ago period. FREE Report: The Metaverse is Exploding! Don’t You Want to Cash In? Rising gas prices. The war in Ukraine. America's recession. Inflation. It's no wonder why the metaverse is so popular and growing every day. 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(TPR): Free Stock Analysis Report Designer Brands Inc. (DBI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research