Fashion Retailer Buckle's Q4 Sales Slide 5%, Surpasses EPS Estimates
Portfolio Pulse from Shivani Kumaresan
Buckle Inc (NYSE:BKE) reported a Q4 FY23 sales decline of 4.8% year-on-year to $382.4 million, missing analyst estimates. Comparable store sales and online sales also saw declines. Despite this, EPS of $1.59 surpassed expectations. Operating income and gross profit decreased, while operating expenses slightly increased. Buckle held $290.4 million in cash and equivalents by February 3, 2024. BKE shares closed lower by 1.28% at $37.66.
March 15, 2024 | 12:59 pm
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Buckle Inc reported a Q4 FY23 sales decline but surpassed EPS estimates. Sales, comparable store sales, and online sales declined, while operating income and gross profit also decreased. Despite this, EPS beat expectations.
While Buckle Inc reported a decline in sales and operating income, the surpassing of EPS estimates could indicate better-than-expected profitability and cost management. This mixed result could lead to neutral short-term stock price movement as investors weigh the sales decline against the EPS beat.
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