Tuesday, 26 March 2019 05:57 GMT
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Buckle Stumbles on Financial Figures



(MENAFN - Baystreet.ca)

Buckle Inc (NYSE:BKE) saw its shares fall on the release of quarterly and full-year financial numbers Friday.

The company, based out of Kearney, Nebraska, announced today that net income for the fiscal quarter ended February 2, 2019 was $41.1 million, or $0.85 per share ($0.84 per share on a diluted basis). Net income for the fiscal year ended February 2, 2019 was $95.6 million, or $1.97 per share ($1.97 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended February 2, 2019 decreased 6% to $264.4 million from net sales of $281.2 million for the prior year 14-week fiscal quarter ended February 3, 2018.

Comparable store net sales for the 13-week period ended February 2, 2019 decreased 0.6% from comparable store net sales for the prior year 13-week period ended February 3, 2018.

Online sales increased 1.3% to $33.9 million for the 13-week period ended February 2, 2019, compared to net sales of $33.5 million for the 14-week period ended February 3, 2018.

"Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear," concludes the Friday news release, "Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company's exclusive brand, BKE."

Buckle currently operates 450 retail stores in 42 states.

The shares, also trading under the symbol BKE, decreased in price 74 cents, or 4.1%, to $17.35.

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Buckle Stumbles on Financial Figures

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