Why Is Fashion Retailer Buckle Stock Gaining Today?

Benzinga08-23

Buckle, Inc. (NYSE:BKE) shares are trading higher on Friday.

The company reported second-quarter earnings per share of 78 cents, missing the street view of 80 cents. Quarterly decreased 3.4% to $282.4 million, beating the analyst consensus of $272.4 million.

Comparable store net sales decreased 6.6%. Online sales decreased 15.2% to $37.0 million. Net income for the second quarter was $39.3 million, compared with $45.6 million a year ago.

Also Read: Palantir Snags Former GOP Leader Mike Gallagher As Defense Chief, Sparking New Debate Over US Tech Security: Report

Quarterly gross profit fell to $132.534 million, lower than $138.412 million. Operating income totaled $48.26 million, lower than $56.76 million a year ago.

Buckle exited the quarter with cash and equivalents worth $309.12 million. Inventory at the end of the second quarter was $131.418 million.

According to Benzinga Pro, BKE stock has gained 22% in the past year. Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:ONLN) and The Acquirers Fund (NYSE:ZIG).

Price Action: BKE shares are trading higher by 7.37% to $44.74 at last check Friday.

Photo via Wikimedia Commons

Read Next:

Palantir Technologies Soared 400% And Why Breaking The $30 Barrier Could Signal Even Greater Gains

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