The Buckle Inc. (NYSE:BKE) stock traded higher Friday after the apparel retailer reported fiscal second-quarter results that beat Wall Street expectations for both earnings and sales.
Buckle reported diluted earnings of 87 cents per share, beating the 81-cent analyst estimate. Net sales rose 4.6% year over year to $319.8 million, topping the $314.6 million consensus estimate. Net income was $44.4 million, down slightly from $45 million a year earlier.
Comparable Sales Rise, Women’s Business Shines
Comparable-store sales increased 2.1%, while online sales rose 2.3% to $44.6 million. Average unit retail increased about 4.5%, while average transaction value climbed roughly 3.5%.
Women’s sales jumped 9.5% and accounted for 50% of quarterly sales, up from 47.5% a year earlier. Women’s denim sales increased 11%, while alternative pants sales surged nearly 50%. Women’s tops rose about 10.5%.
