Buckle Q2: Earnings Beat, 3% Topline Decline, Comps Down & More

Buckle, Inc. BKE reported a second-quarter FY23 sales decrease of 3.2% year-on-year to $292.43 million, beating the analyst consensus of $290.36 million.

Comparable store net sales decreased by 3.3%. Online sales fell 5.6%.

Gross profit fell 4.8% Y/Y to $138.41 million, with a margin of 47.3%.

Operating income for the quarter decreased 13.6% to $56.76 million.

As of quarter end, the company held $299.3 million in cash and equivalents.

Net income for the second quarter of fiscal 2023 was $45.6 million, lower than $50.1 million a year ago.

EPS of $0.92 beat the analyst consensus of $0.81. 

Price Action: BKE shares closed lower by 0.46% at $36.44 on Thursday.