Buckle IncBKE
▼ NegativeCapitalrelevance
Net income declined despite sales growth due to higher expenses.
Impact on stocks 1
Consumer Discretionary
Buckle IncBuckle reported second-quarter net income of $44.4 million, or $0.87 per diluted share, down from $45 million, or $0.89 per diluted share, a year earlier, as higher expenses offset sales and gross-margin gains. Net sales rose 4.6% to $319.8 million, with comparable-store sales up 2.1% and online sales up 2.3% to $44.6 million. Women's merchandise sales increased 9.5%, led by denim, alternative pants and tops, while men's sales were flat. The retailer ended the quarter with 446 stores and plans five additional openings and four more remodels for the rest of the year. Inventory increased 13.3% year over year, while cash and investments totaled $322.9 million.
Buckle IncNet income declined despite sales growth due to higher expenses.