Fashion Retailer Buckle's Q4 Sales Slide 5%, Surpasses EPS Estimates

Buckle Inc BKE reported a fourth-quarter FY23 sales decline of 4.8% year-on-year to $382.4 million, missing the analyst consensus estimate of $383.634 million.

Comparable store net sales decreased 9.6%. Online sales declined 12.4% to $65.5 million.

Gross profit for the quarter fell 6.1% to $200 million with a gross margin of 52.4%.

Operating expenses for the quarter increased 0.5% to $103.7 million.

Operating income decreased 12.2% to $96.5 million with an operating margin of 25.2%.

EPS of $1.59 beat the analyst consensus estimate of $1.44.

Buckle held $290.4 million in cash and equivalents as of February 3, 2024.

Price Action: BKE shares closed lower by 1.28% at $37.66 on Thursday.

Photo via Wikimedia Commons