Buckle fiscal 2Q net income rises 8 percent
Buckle 2nd-quarter income and sales rise; sales at stores open at least a year miss estimates
KEARNEY, Neb. (AP) -- Teen clothing company The Buckle said Thursday its net income rose 8 percent in the second quarter on improves sales in stores and online.
The Buckle Inc. said sales at stores open at least a year grew 3.2 percent, which fell short of Wall Street estimates.
Buckle earned $25.1 million, or 52 cents per share, over the three months ended Aug. 3. It reported a profit of $23.2 million, or 49 cents per share, a year ago. Its revenue grew 8 percent, to $232.5 million from $215.5 million. Online sales rose 5.3 percent.
Analysts expected income of 52 cents per share on $230.7 million in revenue, according to FactSet. They expected sales at stores open at least a year to grow 3.4 percent.
Those sales are considered an important measurement of retailer health because they exclude results from stores that have opened or closed in the last 12 months.
Buckle has 452 stores in 43 states. In morning trading, shares fell 3.3 percent, or $1.77, to $51.26.
