Shares of The Buckle Inc. fell 5.1 percent in early trading on Wall Street after the company’s first-quarter earnings came in below expectations.
Net profits slipped 0.7 percent to $37.6 million, or 78 cents a diluted share, from $37.8 million, or 79 cents, a year earlier. Earnings came in 4 cents below the 82 cents projected by analysts’ consensus estimates.
As of 11 a.m. in New York, shares were down $2.89 cents to $54.25.
Sales for the three months ended May 4 increased 2.3 percent to $269.7 million from $263.8 million as comparable-store sales inched up 1.2 percent.