Why Fashion Retailer Buckle Shares Are Gaining Today

Specialty retailer Buckle Inc BKE reported a third-quarter FY23 sales decline of 8.7% year-on-year to $303.46 million, missing the analyst consensus estimate of $316.70 million.

Comparable store net sales for the quarter decreased 9.2%. Online sales decreased 16.2% to $46.1 million.

Operating expenses fell 3.3% to $83.2 million.

Gross profit declined 11% to $147.2 million, and the gross margin contracted 120 basis points to 48.5%.

The operating income dropped 19.3% to $64.1 million, with an operating margin of 21.1%.

The company held cash and equivalents of $335.1 million as of October 28, 2023.

EPS of $1.04 beat the consensus estimate of $0.98.

The company recently reported that comparable store net sales for the four weeks ending October 28, 2023, decreased 11.9%.

Price Action: BKE shares are trading higher by 8.65% at $37.93 on the last check Friday.

Photo Via Company

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsEquitiesNewsSmall CapMarketsMoversGeneralBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!