Buckle Q2 profit falls 17%, misses Street
Kearney, Neb. The Buckle reported Thursday that net income for the quarter ended July 31 declined 17% on higher costs and weaker sales.
The teen retailer earned $20.7 million, compared with about $25 million in the same quarter a year ago.
Revenue fell 2% to $188.6 million, from $192.9 million a year earlier. Analysts expected revenue of $192.4 million.
Same-store sales fell 7.3% in the quarter.
Teen merchants were among the hardest hit in the second-quarter as consumers began to pull back on spending.