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.
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