Zinger Key Points
- Buckle's Q2 EPS missed estimates at 78 cents, while revenue of $282.4M exceeded expectations but showed a 3.4% decline Y/Y.
- Comparable store net sales fell 6.6% and online sales dropped 15.2% to $37.0M, with net income declining to $39.3M.
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Buckle, Inc. BKE shares are trading higher on Friday.
The company reported second-quarter earnings per share of 78 cents, missing the street view of 80 cents. Quarterly decreased 3.4% to $282.4 million, beating the analyst consensus of $272.4 million.
Comparable store net sales decreased 6.6%. Online sales decreased 15.2% to $37.0 million. Net income for the second quarter was $39.3 million, compared with $45.6 million a year ago.
Quarterly gross profit fell to $132.534 million, lower than $138.412 million. Operating income totaled $48.26 million, lower than $56.76 million a year ago.
Buckle exited the quarter with cash and equivalents worth $309.12 million. Inventory at the end of the second quarter was $131.418 million.
According to Benzinga Pro, BKE stock has gained 22% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF ONLN and The Acquirers Fund ZIG.
Price Action: BKE shares are trading higher by 7.37% to $44.74 at last check Friday.
Photo via Wikimedia Commons
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