Buckle Q3 Earnings Beat Estimates

Buckle Inc BKE reported third-quarter FY21 sales growth of 27.3% year-on-year, to $319.43 million, beating the analyst consensus of $299.12 million. Comparable store net sales increased 27.3%.

• Online sales rose 9% Y/Y to $50.5 million.
• EPS of $1.26 beat the analyst consensus of $0.92.
• Gross profit rose 37.7% Y/Y to $161.1 million, with the margin of expanding 380 basis points to 50.4%.
• Operating expenses increased 25.5% Y/Y to $78.8 million.
• The operating margin was 25.7%, and operating income for the quarter rose 51.8% to $82.2 million.
• The company held $480 million in cash and equivalents as of October 30, 2021.
• Price Action: BKE shares traded lower by 4.42% at $51.37 on the last check Friday.