KEARNEY, Neb. (AP) -- The Buckle Inc. said Thursday that a key measure of sales rose at its stores during the month of October, better than the drop analysts expected.
The teen clothing retailer said that sales in stores open at least a year rose 2.6 percent for the 4-week period that ended Nov. 2. The measure is considered an important indicator of financial performance because it strips away the impact of recently opened and closed stores, and measures growth at ongoing locations.
Analysts expected a 1.7 percent decline, according to Thomson Reuters.
Buckle said that total revenue for the period rose 2.8 percent to $86.6 million.
For the quarter ended Nov. 2, revenue in stores open at least one year fell 0.5 percent and total revenue rose 0.9 percent to $286.8 million. Analysts expected revenue of $289.7 million, according to FactSet.
For the year to date, sales at stores open at least a year increased 1.9 percent. Total revenue increased 3.4 percent to $789 million.
Buckle, headquartered in Kearney, Neb., operates 452 retail stores in 43 states.
Shares rose 94 cents, or 2 percent, to $49.43 in morning trading. The stock is up about 9 percent since the start of the year.
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