Buckle Beats Ests, But Shares Still Drop

[Stocks-to-Watch]

Shares of teen retailer Buckle (BKE) got walloped this morning, falling more than 4% after the opening bell despite posting quarterly earnings that bested expectations.

At $39.98 a share, Buckle fell $1.86 a share or 4.4%.

The company reported this morning that strong demand for its jeans and footwear offset rising costs. Net income for the quarter that ended on Oct. 29 totaled $38.3 million, or 81 cents per share, up from $34.4 million, or 73 cents per share, in the previous period.

Sales climbed 12% to $273.4 million from $243.3 million a year ago, buoyed by a 25.4% jump in online sales. Revenue at stores open at least a year rose 9.1%.

Analysts expected earnings of 80 cents per share on revenue of $272.1 million.



Original Article Source by Barrons.com