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Buckle's (BKE) Q1 Earnings Beat Estimates, Sales Rise Y/Y

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The Buckle, Inc. (BKE - Free Report) delivered mixed results in first-quarter fiscal 2022 wherein the top line missed the Zacks Consensus Estimate but the bottom line surpassed the same. Also, sales improved year over year on increased online sales and comparable store net sales.

This Kearney, NE-based player delivered earnings of $1.12 a share, which surpassed the Zacks Consensus Estimate of $1.10. The bottom line fell 3.4% from the last fiscal year quarter’s tally.

Buckle generated net sales of $309.1 million that rose 3.3% from the year-ago figure but missed the Zacks Consensus Estimate of $339 million. Comparable store net sales for the 13-week period ended Apr 30, 2022, grew 3.7% year over year. Additionally, online sales inched up 1.1% to $54.3 million in the reported quarter.

Buckle, Inc. The Price, Consensus and EPS Surprise

Buckle, Inc. The Price, Consensus and EPS Surprise

Buckle, Inc. The price-consensus-eps-surprise-chart | Buckle, Inc. The Quote

Let’s Delve Deeper

Gross profit increased to $152.2 million from $147.6 million in the year-earlier quarter. Also, gross margin dipped 10 basis points from the year-ago quarter’s tally to 49.2%.

Further, selling expenses rose to $67.2 million from $60 million recorded in the year-earlier quarter. Also, general and administrative expenses increased to $11.9 million from $11.8 million reported in the same quarter of fiscal 2021.

BKE reported an operating income of $73.1 million, down from the operating income of $75.8 million recorded in the year-ago quarter.

Buckle ended the quarter with cash and cash equivalents of $250.1 million and a total stockholders’ equity of $353.6 million. Further, inventory increased 36.2% to $121.2 million.

BKE presently operated 440 retail outlets across 42 states. This includes opening a new store this week in Spanish Fork, UT. At the end of the fiscal first quarter, Buckle operated 439 stores across 42 states compared with 442 stores in 42 states at the end of the earlier fiscal year’s comparable quarter.

Shares of this currently Zacks Rank #3 (Hold) player have gained 2.3% in the past six months against the industry’s 14.5% decline.

3 Top Retail Stocks for You

We highlighted three better-ranked stocks in the Retail - Wholesale sector, namely Tecnoglass (TGLS - Free Report) , Boot Barn Holdings (BOOT - Free Report) and Fastenal (FAST - Free Report) .

Tecnoglass engages in manufacturing and selling architectural glass and windows, and aluminum products for the residential and commercial construction industries. TGLS currently sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Tecnoglass’ current financial-year sales and earnings per share suggests growth of 21.3% and 28.7%, respectively, from the corresponding year-ago period's reported figures. TGLS has a trailing four-quarter earnings surprise of 28.3%, on average.

Boot Barn, a lifestyle retail chain devoted to western and work-related footwear, apparel and accessories, currently flaunts a Zacks Rank of 1. BOOT has a trailing four-quarter earnings surprise of 25.2%, on average.

The Zacks Consensus Estimate for Boot Barn’s current financial-year sales and earnings per share suggests growth of 17% and 4.4%, respectively, from the corresponding year-ago period’s reported figures. BOOT has an expected EPS growth rate of 20% for three-five years.

Fastenal, a national wholesale distributor of industrial and construction supplies, currently has a Zacks Rank #2 (Buy). FAST has a trailing four-quarter earnings surprise of 5%, on average.

The Zacks Consensus Estimate for Fastenal's current financial-year sales and earnings per share suggests growth of 15.4% and 16.3%, respectively, from the corresponding year-ago period’s actuals. FAST has an expected EPS growth rate of 9% for three-five years.