Buckle Inc. Q2 Profit Misses View, But Sales Top

In Industry News, Reports, What's New by Accessories Staff

buckleKearney, NE—Buckle Inc. has booked a drop in earnings in the second quarter.

In the three months to August 2, net income was $24.47 million or 51 cents a share, edging down from $25.14 million, or 52 cents a share in the prior-year quarter. That missed analysts’ average estimate for 53 cents a share.

Net sales, however, increased 1.4% to $235.7 million from sales of $232.5 million in the year ago period, beating analysts’ consensus for $235.13 million in sales.

Comparable store net sales dropped 0.5%. Online sales increased 1.7% to $17.1 million.

Online sales, which are not included in comparable store sales, increased 1.7% to $17.1 million from $16.8 million in the year-ago quarter.

Income from operations decreased to $38.77 million from $39.40 million in the prior-year quarter, while total operating expenses were $56.15 million, up from $55.08 million in the year-ago quarter.

Gross profit for the second quarter edged up to $94.93 million from $94.49 million in the same quarter last year.