Deckers Outdoor Corporation DECK reported lower-than-expected second-quarter fiscal 2022 results, thanks to the ongoing supply chain challenges. Nonetheless, this designer, marketer and distributor of footwear, apparel, and accessories registered top and bottom-line growth from the year-ago quarter’s respective tallies. Strength in HOKA ONE ONE and UGG brands as well as growth in direct-to-consumer channels contributed to the company’s performance.Acceleration of omni-channel capabilities, and customer-centric product and marketing strategies have helped the company navigate through challenges. Management also stated that due to lower exposure of factories located in Southern Vietnam coupled with the dual sourcing capabilities enabled Deckers to shift production to alternate locations. These helped mitigate any major production disruption.Let’s Delve DeeperDeckers posted quarterly earnings of $3.66 per share that fell short of the Zacks Consensus Estimate by a couple of cents. Nonetheless, the bottom line showcased an improvement of 2.2% from the year-ago earnings of $3.58 per share. Higher sales fueled the bottom line.Net sales of this Goleta, CA-based company rose 15.8% year over year to $721.9 million during the quarter but missed the Zacks Consensus Estimate of $761.8 million. On a constant currency basis, net sales grew 14.8%. Top-line growth was driven by the HOKA ONE ONE and UGG brands.We note that gross margin contracted 30 basis points to 50.9% during the quarter. SG&A expenses climbed 25.5% year over year to $238.9 million on account of higher marketing expenses, increased compensation costs, and rise in variable expenses associated with increased volume for warehouse logistics and IT.The company posted an operating income of $128.2 million compared with $128.6 million in the year-ago quarter.Deckers Outdoor Corporation Price, Consensus and EPS Surprise Deckers Outdoor Corporation price-consensus-eps-surprise-chart | Deckers Outdoor Corporation QuoteSales by Geography & ChannelDeckers’ domestic net sales climbed 20.4% year over year to $514.6 million during the quarter under review. We note that international net sales advanced 5.7% to $207.3 million from the year-ago period.By channel, wholesale net sales surged 20.7% to $545.2 million. Direct-to-consumer net sales increased 2.8% to $176.7 million, primarily driven by the HOKA ONE ONE brand. Comparable direct-to-consumer net sales inched up 1% over the same period last year.Brand Wise DiscussionUGG brand net sales rose 8% year over year to $448.4 million, while HOKA ONE ONE brand net sales increased 47% to $210.4 million during the reported quarter. Teva brand net sales advanced 4% to $28.8 million.Net sales for the Sanuk brand jumped 6.2% to $10.1 million. Net sales for the Other brands, mainly comprising Koolaburra, fell 14.1% to $24.2 million.Other Financial AspectsCash and cash equivalents stood at $746.2 million as of Sep 30, 2021, compared with $626.4 million as of Sep 30, 2020. The company ended the quarter with total stockholders’ equity of $1,463.7 million. There were no outstanding borrowings.During the quarter, the company repurchased about 133 thousand shares for $53.8 million. As of Sep 30, 2021, the company had $674.7 million remaining under its stock repurchase authorization.A Sneak Peek into OutlookDeckers continues to envision fiscal 2022 net sales in the range of $3.01 billion to $3.06 billion. This suggests a sharp increase of 18-20% from $2.546 billion reported in fiscal 2021.The company now expects fiscal 2022 earnings to be $14.15-$15.15 per share, compared with the prior view of $14.45-$15.10. The current estimate compares favorably with earnings of $13.47 per share reported last fiscal. However, the mid-point — $14.65 — of the current earnings projection is below the Zacks Consensus Estimate of $15.13.Brand wise, management anticipates growth rate of 50% plus for HOKA ONE ONE brand. For UGG, the metric is likely to grow in the high single-digit versus the prior forecast of high single-digit to low double-digit range. The trimmed guidance reflects the impact of shipment disruption. Teva brand revenues are expected to grow in the high teens range. Koolaburra and Sanuk brand revenues are likely to remain flat year over year.Gross margin is now anticipated to be approximately 51.5%. Higher costs related to ocean containers and greater utilization of air freight are likely to exert pressure on gross margin. SG&A expenses, as a percentage of sales, are now projected to be about 34%, with operating margin expected between 17% and 18%.Shares of this Zacks Rank #4 (Sell) company have gained 12.4% in the past six months, compared with the industry’s growth of 21.5%.Pick These 3 StocksHibbett HIBB has a long-term earnings growth rate of 22.4%. It presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Boot Barn Holdings BOOT has a trailing four-quarter earnings surprise of 35.3%, on average. It currently carries a Zacks Rank #2 (Buy).Abercrombie & Fitch ANF has a long-term earnings growth rate of 18%. It presently carries a Zacks Rank #2. 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