Buckle Inc. and Stein Mart Inc. both posted stronger than expected first-quarter earnings and saw stock gains in midday trading today. Ross Stores Inc. met previously improved expectations and raised guidance for the year, but saw its stock drop.
At Buckle, net income rose 13 percent to $37.8, or 79 cents a diluted share, from $33.5 million, or 71 cents, a year earlier. Earnings per share came in 3 cents ahead of the 76 cents analysts expected. Sales gained 9.9 percent to $263.8 million from $240.1 million with a 7.4 percent comparable-store sales rise. The company’s stock rose 5.5 percent to $43.35.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"