Buckle Bests Views With 9.4% Rise in 4Q Net; Same-Store Sales Flat

By RetailFOXBusiness

Apparel maker Buckle (NYSE:BKE) beat the Street on Thursday by posting a 9.4% jump in fiscal fourth-quarter net income despite the company suffering stagnant same-store sales.

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Buckle said it earned $61.4 million, or $1.28 a share, last quarter, compared with a profit of $56.1 million, or $1.18 a share, a year earlier. Analysts had called for EPS of $1.25.

Revenue rose 7% to $360.6 million, narrowly topping the Street’s view of $357 million. Gross margins grew to 48% from 47.4%.

Buckle said its same-store sales were unchanged in the fourth quarter, but online sales jumped 5.4% to $29.1 million.

Shares of Kearney, Neb.-based Buckle slipped 0.57% to $47.00 early Thursday. The stock has gained about 6% so far this year but remains off nearly 5% over the past 12 months.

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