By
Reuters
Published
Aug 20, 2009
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Buckle second quarter profit rises, beats market estimates

By
Reuters
Published
Aug 20, 2009

Aug 20 (Reuters) - Buckle Inc (BKE.N) posted a 12 percent jump in quarterly earnings that beat market expectations, as better sales offset rising costs at the apparel and footwear retailer.


Buckle.com

Unlike most of its peers, the Kearney, Nebraska-based company has been posting positive comparable sales for over 12 months now, though its July sales fell short of market expectations.

For the quarter ended Aug 1, the company earned $25.0 million, or 54 cents a share, up from the $22.3 million, or 48 cents per share it had earned in the year-ago quarter.

Revenue rose 14 percent to $192.9 million, led by a 39 percent rise in online sales.

Analysts were expecting the company to earn 52 cents a share, on revenue of $195.2 million.

Comparable sales at the company, which caters to young adults, rose 8.6 percent during the quarter.

Selling, general and administrative expenses rose to $44.2 million from $36.9 million in the same quarter a year ago.

Shares of the company had closed at $27.93 Wednesday 19 August on the New York Stock Exchange.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Jarshad Kakkrakandy)

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