The Buckle Inc. (NYSE: BKE) published its earnings report for the fiscal fourth quarter on Friday that topped analysts’ estimates for sales and profit, despite the ongoing Coronavirus pandemic that has so far infected a little under 30 million people in the United States and caused over half a million deaths.
Buckle shares tanked roughly 1% on market open on Friday, but recovered the entire intraday loss later on. Including the price action, the stock is now exchanging hands at £29.22 per share. In comparison, it had started the year 2021 at a much lower £20.59 per share. The price action should come in handy if you are interested in investing in the stock market.
Buckle’s Q4 financial results versus analysts’ estimates
Buckle said that its net income in the fourth quarter came in at £47.12 million that translates to 96 pence per share. In the comparable quarter of last year, its net income was capped at a lower £33.76 million, or 68.96 pence per share. Experts, on the other hand, had anticipated 91 pence of earnings per share for the fashion retailer in Q4.
As per Buckle, it generated £229 million of net sales in the recent quarter that represents a 17.7% year over year growth. The U.S. company’s quarterly net sales were marginally higher than what analysts had predicted.
In the thirteen weeks that concluded on 30th January, same-store sales, the Kearney-based company added, posted an annualised increase of 18%. At £47.55 million, Buckle’s digital sales jumped 81.5% in the fourth quarter.
In separate news from the United States, mountain resort company, Vail Resorts, published its financial results for the fiscal fourth quarter on Thursday.
Buckle’s results for the full financial year
For the full financial year, the NYSE-listed company reported £647.42 million of net sales and £93.45 million of net income. Buckle Inc. now has a presence in 42 states, where it operates 442 retail stores. At the end of 2019, it operated 448 stores instead.
Buckle’s financial update comes a day after the American chain of beauty stores, Ulta Beauty, reported weaker than expected quarterly results.
The Buckle Inc. performed slightly upbeat in the stock market last year with an annual gain of more than 10%. At the time of writing, the American fashion retailer is valued at £1.44 billion and has a price to earnings ratio of 17.85.
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Wajeeh Khan
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