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Buckle Misses Q1 Estimates

Shares of the specialty chain drop as earnings lag Wall Street projections.

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.

 

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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.