Buckle distinction misses as sales fall
May 21, 2015 - fall Denim
Buckle Inc. on Thursday reported weaker-than-expected distinction for a initial entertain as a retailer’s sales and margins both fell.
Shares fell 2.6% in premarket trading.
Buckle, that sells brands including Diesel and Guess, has seen a sales expansion delayed in new years as a margins have also faced pressure. The retailer, that typically gets scarcely half of a sales from jeans, has also concurred that a flourishing recognition of yoga pants has cut into a women’s denim sales.
Overall, for a entertain finished May 2, Buckle reported a distinction of $33.6 million, or 70 cents a share, contra $37.3 million, or 78 cents a share, a year ago.
Analysts polled by Thomson Reuters foresee gain of 78 cents a share.
Gross domain narrowed to 41.9% from 43.1% a year earlier.
Buckle reported progressing this month net sales edged down 0.1% to $271.3 million for a period.
The association also pronounced a same-store sales, that includes stores open during slightest a year, fell 2.2% in a initial quarter, with a 3.8% diminution in a metric in April.
The declines followed a 1.1% uptick in same-store sales in a holiday quarter, Buckle’s initial quarterly boost in a metric given 2013.
Write to Chelsey Dulaney during Chelsey.Dulaney@wsj.com
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