BKE - The Buckle falls short of Q1 estimates as comparable sales crash

2023-05-26 07:01:33 ET

The Buckle ( NYSE: BKE ) shares wavered in premarket trading after the company noted a steep decline in comparable sales year over year.

The Nebraska-based retailer reported Q1 GAAP EPS of $0.86, short of the $0.92 consensus estimate. Meanwhile, an 8.5% decline in revenue as compared to the prior year quarter was a steeper decline than the Street had anticipated.

Comparable store net sales for the quarter slid 9.2%, sharply contrasting with the 3.7% rise in Q1 2022. E-commerce sales slid 5.6% in the quarter as compared to the April-ended quarter of 2022.

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