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The Buckle is a retailer of casual apparel, footwear, and accessories for young men and women in the United States. The companys casual apparel products include denims, bottoms, tops, sportswear, and outerwear.
Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the companys exclusive brand, BKE.
Headquartered in Kearney, Nebraska, Buckle currently operates 393 retail stores in 40 states, including the recent opening of 3 new stores in Savannah, Georgia; Newport News, Virginia; and Pineville, North Carolina. BKE also closed one store in fiscal April. The Company operated 374 stores in 39 states as of May 7, 2008.
The company recently posted sales results for the month of June. Comparable store net sales were up 9.6% on a year-over-year basis. Net sales jumped 14.4% to $70.8 million.
The Buckle declared a dividend of 20 cents in early June, noting that it is payable on July 27 to shareholders of record at the close of business on July 15. The retailer offers an industry-leading dividend yield of 3%.
Current full-year earnings forecasts to $2.65 per share are above the 3 months-ago level of $2.53. For the following year, analysts boosted projections to $2.76 per share, versus the 3 months-ago level of $2.57.
The Buckles earnings came in, on average, 8.55% ahead of analysts expectation over the past 4 consecutive quarter.
Solid Earnings in the First Quarter
The Zacks #1 Rank (Strong Buy) play posted first-quarter earnings of 58 cents per share, surpassing the previous years 41 cents and topping the consensus estimate by 18%.
Results for the second quarter are scheduled for release on August 20.
The Buckle boasts a strong balance sheet with no debt. The companys return on average (ROE) of 32% more than triples the industry average of 9%. Its net profit margin of 13.5% sits high above the industry average of 2%.
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