The Buckle (NYSE:BKE) earnings for the fashion retail company’s second quarter of 2020 have BKE stock heading higher on Friday. That’s due to its diluted earnings per share of 71 cents stomping Wall Street’s estimate of 5 cents. Its revenue of $216.03 million also handily beats analysts’ estimate of $170.83 million.
Now, let’s take a look at some additional highlights from The Buckle’s most recent earnings report.
- Diluted per-share earnings are up 108.8% from 34 cents during the same time last year.
- Revenue for the quarter comes in 6% higher than the $203.82 million reported in Q2 2019.
- BKE notes that it saw online sales increase 99% to $46 million during the quarter.
- Operating income of $45.53 million is a 132.3% increase year-over-year from $19.6 million.
- The Buckle earnings report also has net income coming in at $34.68 million.
- That’s a 111.9% jump from the company’s net income of $16.37 million in the same period of the year prior.
The Buckle provides this update on its business in its earnings report.
“As of August 1, 2020, 431 of Buckle’s 446 stores were open. Of the 15 stores which were closed, 2 have not yet reopened due to damage sustained during the closure period. The remaining 13 stores are located in California and had previously reopened but were subsequently closed again during July in accordance with state guidelines.”
The Buckle doesn’t discuss guidance in its current earnings report. That makes sense with the novel coronavirus still plaguing the U.S. Many other retailers are withholding guidance during the pandemic.
BKE stock was up 16.5% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.