Buckle Q3 Profit Misses Estimates

reported weaker-than-expected earnings for the third quarter on Thursday. The Kearney, Nebraska-based company reported quarterly net income of $35.9 million, or $0.74 per share, versus $40.6 million, or $0.84 per share, in the year-ago quarter. Its revenue declined 4.1 percent year-over-year to $280.2 million. However, analysts were expecting earnings of $0.78 per share on revenue of $281.43 million. The average estimate among 8 Estimize users was for earnings of $0.48 per share and revenue of $236.43 million. Comparable store net sales slipped 5.2 percent in the quarter. Online sales rose 13.6 percent to $25.9 million. Buckle shares fell 0.33 percent to close at $30.44 yesterday.