Deckers Outdoor Corporation (DECK -Analyst Report) is bucking the negative retail trends as its strong brands powered it to record sales in the 2015 fiscal first quarter. This Zacks Rank #1 (Strong Buy) also raised guidance.

Deckers is a footwear, apparel and accessories company best known for its flagship brand UGG. But it also owns Teva, Sanuk, TSUBO, Ahnu, MOZO and HOKA ONE ONE. Its products are sold in more than 40 countries in department and specialty stores. It also operates 126 Company-owned retail stores and its own web sites.

Big Beat in the Fiscal First Quarter

On July 24, Deckers reported its fiscal first quarter 2015 results and blew by the Zacks Consensus by 18.3%. Earnings were a loss of $1.07 versus the Zacks Consensus of a loss of $1.31.

It saw double digit sales growth across its three largest brands as net sales rose 24.3% to a record $211.5 million.

UGG, its largest brand, saw sales jump 22.8% to $123.3 million due to gains across all channels, including wholesale and international distributor sales, new retail stores and E-Ccommerce. The only weakness was a decrease in same-store sales.

Teva saw sales jump 25.7% to $39.3 million and also saw gains across all channels, including global E-Commerce sales.

The story was much the same for Sanuk, which had a sales gain of 19.6% to $36 million on gains across all channels.

Direct-to-consumer had the strongest sales trends as E-Commerce sales rose 43.7% to $15.4 million from $10.7 million in the year ago quarter.

Raised Revenue Guidance for Q2

Deckers expects the momentum from the first fiscal quarter to continue into the second quarter and the full year. It raised fiscal 2015 revenue guidance to a gain of 14% from its prior guidance of 13%.

It also raised earnings per share for the year. It expects EPS to increase about 14.5% versus its previous guidance of a gain of 13.5%.

It also raised sales guidance on its three main brands: UGG, Teva and Sanuk.

Estimates Jumped Higher

Not surprisingly, given how bullish the first quarter was, the analysts all jumped on board.

9 estimates have been raised for fiscal 2015 in the last 60 days, pushing up the Zacks Consensus Estimate to $4.74 from $4.66. That is earnings growth of 13.5%.

They are also bullish about fiscal 2016. Analysts expect another year of double digit earnings growth, with earnings jumping another 18.2%.

Great Earnings Surprise History

Deckers has a great track record of beating the Zacks Consensus Estimate over the last 5 years. It has only missed on the estimate one time.

Shares have also rebounded dramatically from their previous sell off in 2011 and 2012 when there were concerns about rising inventories and slowing sales.

Deckers isn't cheap. It has a forward P/E of 20 but the brands have done a turnaround in the last two years and the growth is there.

For investors looking for a retail stock with a positive earnings outlook, Deckers is one to keep on your short list.