Why Is Fashion Retailer Buckle Stock Falling Today?
Portfolio Pulse from Shivani Kumaresan
Buckle Inc. (NYSE:BKE) reported a 7.2% decline in first-quarter FY24 sales, missing analyst estimates. Comparable store net sales decreased by 9%, and online sales fell by 13.4%. Gross profit dropped by 9.4%, and EPS of $0.69 missed the consensus estimate of $0.74. BKE shares fell by 5.24% premarket.
May 24, 2024 | 12:29 pm
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NEGATIVE IMPACT
Buckle Inc. reported a 7.2% decline in Q1 FY24 sales, missing analyst estimates. Comparable store net sales and online sales also fell significantly. Gross profit and EPS missed expectations, leading to a 5.24% drop in premarket trading.
The decline in sales, missed earnings estimates, and significant drops in comparable store and online sales are likely to negatively impact investor sentiment. The premarket drop of 5.24% reflects this negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100