Buckle Turns To Profit In Q1, Beats View - Quick Facts

Buckle, Inc. (BKE), an apparel, accessories, and footwear retailer, reported Friday that its first-quarter net income was $57.27 million or $1.16 per share, compared to prior year's net loss of $11.78 million or $0.24 per share.

On average, analysts polled by Thomson Reuters expected earnings of $0.43 per share. Analysts' estimates typically exclude special items.

Net sales for the 13-week fiscal quarter increased 159.2 percent to $299.13 million from net sales of $115.41 million in the prior year.

Compared to the same 13-week period in fiscal 2019, net sales increased 48.6 percent.

The company reported total net sales compared to the past two years as the prior year results were hurt by the closure of all brick and mortar stores due to the COVID-19 pandemic beginning March 18, 2020. The company also said it does not plan to separately report comparable store sales for the periods most affected by the store closures.

Online sales in the first quarter were $53.7 million, up 67.3 percent from $32.1 million in 2020 and up 120 percent from net sales of $24.4 million in 2019.

In pre-market activity on the NYSE, Buckle shares were gaining around 10 percent to trade at $43.80.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Luxury electric car maker Tesla Inc. has produced more than 3 million vehicles, of which 1 million in Shanghai Gigafactory, according to its founder and Chief Executive Officer Elon Musk. In a tweet on Sunday, Musk said, "Congrats Giga Shanghai on making millionth car! Total Teslas made now over 3M." King's Hawaiian is recalling its Pretzel Slider Buns, Pretzel Hamburger Buns and Pretzel Bites products as they contain one ingredient already recalled by Lyons Magnus, the U.S. Food And Drug Administration said. The Pretzel recall was initiated out of an abundance of caution after one of its supplier Lyons Magnus recently called back various nutritional and beverage products. German consumer goods maker Henkel AG & Co. reported Monday weak profit in its first half amid increasing costs, despite growth in sales. Further, the company maintained its adjusted earnings forecast for fiscal 2022, but raised outlook for organic sales growth.For fiscal 2022, the company continues to expect adjusted earnings per preferred share to decline in the range of 15 percent to 35 percent
Follow RTT