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.
Also Read: Intuit, Booz Allen Hamilton And 3 Stocks To Watch Heading Into Friday
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.
Check This Out:
Photo: melissamn via Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.