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Buckle's sales, earnings fall below expectations

Tomi Kilgore

Buckle Inc. reported Friday fiscal fourth-quarter sales that fell below expectations, as earnings also missed. The shoes and apparel retailer's stock was still inactive in premarket trade. Net income for the quarter to Feb. 2 declined to $41.1 million, or 84 cents a share, from $42.0 million, or 87 cents a share, in the same period a year ago. The FactSet EPS consensus was 85 cents. Sales fell 6% to $264.4 million, below the FactSet consensus of $265.5 million, while online sales grew 1.3% to $33.9 million. Same-store sales were down 0.6%, matching the average estimate of two analysts surveyed by FactSet. The stock has lost 4.8% over the past three months, while the SPDR S&P Retail ETF has climbed 5.9% and the S&P 500 has rallied 8.0%.