Buckle, Inc. (NYSE:BKE) shares are trading lower in the premarket session on Friday after the company reported first-quarter results.
Buckle reported earnings per share of 70 cents, beating the analyst consensus estimate of 69 cents.
Quarterly sales of $272.12 million (up 3.7% year over year) outpaced the Street view of $268.06 million.
Comparable store net sales for the quarter ended May 3 increased 3% year over year. Online sales increased 4.5% to $46.4 million.
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Net income in the quarter under review was $35.2 million, compared with net income of $34.8 million in the year-ago period.
Quarterly gross profit increased to $126.976 million, compared with $120.697 million a year ago. Gross margin in the quarter under review stood at 46.7%, compared with 45.9% a year ago.
Buckle exited the first quarter with cash and equivalents worth $268.884 million.
Inventory at the end of the quarter was $132.395 million.
At the end of the quarter, income from operations was $43.546 million, compared with $42.396 million a year ago.
According to Benzinga Pro, Buckle stock has gained over 13% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:ONLN) and First Trust SMID Capital Strength ETF (NASDAQ:FSCS).
BKE Price Action: Buckle shares are trading lower by 3.70% to $39.87 at publication on Friday.
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