BKE - Buckle dips despite Q3 upbeat

Buckle (BKE -5.5%) reports net sales growth of 27.3% to $319.44M for the quarter, smashing the consensus mark of $269.22M. Comparable store net sales increased 27.3% Y/Y. Online sales increased 9% Y/Y to $50.5M. Gross margin expanded 380 bps Y/Y to 50.4%, driven by leverage from high sales and a consumer shift to fashion items from casual items as the economy re-opens. Over the last four quarters, the company has surpassed consensus EPS estimates four times. As of the end of 3Q21, the company operated 441 stores in 42 states compared with 446 stores in 42 states at the end of 3Q20.

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Buckle dips despite Q3 upbeat