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The Buckle Inc shares bounce after beating Wall Street's fiscal 2Q estimates on strength of online sales

Published: 08:01 24 Aug 2018 EDT

Clothing
The Buckle's shares are trading 5% higher in the pre-market session

The Buckle Inc (NYSE:BKE) shares popped in pre-market trade Friday as the fashion retailer exceeded Wall Street’s estimates for its fiscal second quarter on the strength of its online sales.

The company reported net income of US$15.7mln or US$0.32 per share, up from US$11.5mln or US$0.24 per share in the year-ago period. Its sales, meanwhile, came in at US$201.1mln, up from US$195.7mln.

The results zipped past the market estimate of US$0.28 on sales of US$196.44 mln.

Buckle shares jumped 5% in the pre-market session to US$29.20 in response.

One weak spot was the slippage in The Buckle’s same-store net sales for the 26 week period ended August 4 by 0.9%, compared to the comparable year-ago period.

Its online sales remained buoyant, however, and jumped 8.6 percent to $21.2mln for the 13-week period ended August 4, compared to net sales of $19.5 million in the comparable period last year.

Headquartered in Kearney, Nebraska, Buckle, which specializes in denim jeans as well as a wider range of apparel and footwear, operates 455 stores in 43 states.

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