Buckle Q1 Profit Misses Expectations

reported downbeat results for the fiscal first quarter on Thursday. The Kearney, Nebraska-based company posted a quarterly profit of $33.6 million, or $0.70 per share, versus $37.3 million, or $0.78 per share, in the year-ago quarter. Its revenue slipped 1 percent to $271.3 million from $271.7 million. However, analysts were expecting a profit of $0.70 per share on revenue of $273.51 million. The average estimate among 3 Estimize users was for earnings of $1.09 per share and revenue of $325.86 million. Its comparable store net sales for the quarter dropped 2.2 percent. Online sales rose 12.9 percent to $24.2 million, from $21.4 million in the year-ago quarter. Buckle shares fell 0.34 percent to close at $44.10 yesterday.