Retailer The Buckle, Inc. (BKE) Thursday said first-quarter profit fell marginally from last year, while sales rose over 2 percent.
Net income slid to $37.55 million or $0.78 per share from $37.81 million or $0.79 per share for the first quarter of fiscal 2012. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the 13-week fiscal quarter ended May 4, 2013 increased 2.3 percent to $269.71 million from $263.76 million in the prior year. Analysts expected revenues of $272.48 million.
Comparable store net sales rose 1.2 percent. Online sales, which are not included in comparable store sales, increased 6.0 percent to $20.9 million, compared to net sales of $19.7 million for the prior year period.
Due to the 53rd week in fiscal 2012, comparable store net sales for the quarter are compared to the 13-week period ended May 5, 2012.
Other income in the quarter was $350 thousand, compared to $1.81 million last year.
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