UPDATE: Buckle Q2 Profit Misses Street View
The Buckle (NYSE: BKE) reported a weaker-than-expected profit for the second quarter.
The Kearney, Nebraska-based company posted quarterly net income of $24.5 million, or $0.51 per share, down from $25.1 million, or $0.53 per share, in the year-ago period. The company's diluted earnings per share came in at $0.51 per share, versus $0.52 per share in the year-ago period.
Its net sales rose 1.4% to $235.7 million from $232.5 million. However, analysts were expecting earnings of $0.53 per share on revenue of $235.45 million.
Buckle's comparable store net sales dropped 0.5%, while online sales rose 1.7% to $17.1 million from $16.8 million.
For the 26-week fiscal period ended August 2, 2014, Buckle posted net income of $61.8 million, or $1.29 per share on sales of $507.4 million.
Buckle shares closed at $47.08 yesterday.
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