Shares of The Buckle, Inc. (NYSE:BKE) surged 5.31% in pre-market trading on Friday following the release of the company's impressive first-quarter financial results. The specialty retailer of casual apparel, footwear, and accessories reported earnings that surpassed analyst expectations, demonstrating resilience in a challenging retail environment.
Buckle announced quarterly earnings of $0.70 per share, beating the analyst consensus estimate of $0.69 by 1.45%. This represents a slight increase from the same period last year when the company reported earnings of $0.69 per share. The company's quarterly sales also exceeded expectations, coming in at $272.12 million, a 1.51% beat over the analyst consensus estimate of $268.06 million. This marks a 3.67% increase in sales compared to the same quarter last year.
The strong performance was underpinned by solid growth across various metrics. Comparable store net sales increased by 3.0%, while online sales grew by 4.5% to $46.4 million. The company's net income for the quarter stood at $35.2 million, slightly up from $34.8 million in the previous year. These results demonstrate Buckle's ability to navigate the current retail landscape effectively and continue delivering value to its shareholders. As the market digests this positive news, investors will be watching closely to see if the stock's momentum carries into the regular trading session.
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