Buckle 1Q profit dips as operating expenses rise

Associated Press

KEARNEY, Neb. (AP) -- Buckle's net income fell slightly for the first quarter as operating expenses rose.

The retailer, known for denim, posted earnings of $37.6 million, or 78 cents per share. That compares with $37.8 million, or 79 cents per share, a year ago.

Analysts predicted earnings of 82 cents per share, according to a FactSet poll.

Total operating expenses rose to $57.8 million from $56.2 million.

Revenue climbed 2 percent to $269.7 million from $263.8 million. Wall Street expected $271.8 million in revenue.

Revenue at comparable stores rose 1.2 percent and the company said online sales rose 6 percent to $209 million.

The Buckle Inc., based in Kearney, Neb., had 443 stores in 43 states at the first quarter's end.

Shares hit an all-time high Wednesday of $57.22