BUCKLE Reports FY2024 Q2 Earnings Results for July 31, 2023
August 29, 2023
🌥️Earnings Overview
On August 18 2023, BUCKLE ($NYSE:BKE) reported their earnings results for the second quarter of FY2024, which ended on July 31 2023. The company saw a 3.2% decrease in total revenue to USD 292.4 million as compared to the same quarter in the preceding year. Moreover, net income fell 9.0% year over year to USD 45.6 million.
Stock Price
On Friday, BUCKLE, a leading fashion retailer, reported its fiscal 2024 second quarter earnings results for July 31, 2023. The company saw its stock open at $36.1 and close at $37.4, representing a 2.5% increase from its last closing price of 36.4. The strong performance was largely attributed to BUCKLE’s focus on providing comfortable and stylish clothing to its customers. Strong earnings results showed that BUCKLE is well-positioned to capitalize on the ongoing shift in consumer preference for comfort-focused fashion.
With their growing presence in the online retail space, BUCKLE is well-positioned to benefit from the increased demand for e-commerce. With continued focus on providing value to customers and driving sales, BUCKLE is optimistic about its future prospects as it continues to invest in its online presence and expand into new markets. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Buckle. More…
| Total Revenues | Net Income | Net Margin |
| 1.31k | 237.8 | 18.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Buckle. More…
| Operations | Investing | Financing |
| 254.17 | -41.4 | -202.88 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Buckle. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 861.55 | 425.01 | 8.65 |
Key Ratios Snapshot
Some of the financial key ratios for Buckle are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.6% | 34.8% | 22.9% |
| FCF Margin | ROE | ROA |
| 16.9% | 44.5% | 21.8% |
Analysis
GoodWhale conducted an analysis of BUCKLE‘s wellbeing and classified it as ‘rhino’ according to its Star Chart. This type of company typically has achieved moderate revenue or earnings growth, making them an attractive investment option for investors who value stability and reliability. BUCKLE demonstrated strong performance in dividend and profitability, and medium performance in asset and growth. Furthermore, BUCKLE has scored a health score of 10/10 with regard to its cashflows and debt, indicating that the company is capable of sustaining future operations in times of crisis. All these metrics combined make BUCKLE an appealing option for investors looking for a dependable long-term investment. More…
Peers
Buckle Inc. is an American fashion retailer that specializes in selling apparel, footwear, and accessories for men and women. The company operates through two segments: Retail and Direct. The Retail segment consists of the company’s stores, e-commerce, and catalog businesses. The Direct segment includes the company’s credit card business. Buckle Inc. competes with Citi Trends Inc, Vedant Fashions Ltd, Gfoot Co Ltd, and other retailers who sell similar products.
– Citi Trends Inc ($NASDAQ:CTRN)
Citi Trends Inc is a specialty retailer of urban lifestyle apparel and accessories for men, women, and children. The company has a market cap of 183.43M and a ROE of 27.52%. Citi Trends operates over 700 stores in 33 states, primarily in the southeastern United States. The company offers a variety of apparel, including t-shirts, hoodies, jeans, and dresses, as well as accessories such as jewelry, belts, and handbags. Citi Trends’ mission is to provide affordable, trendy apparel and accessories for its customers.
– Vedant Fashions Ltd ($BSE:543463)
Vedant Fashions Ltd is an Indian clothing company with a market cap of 347.93B as of 2022. The company has a Return on Equity of 38.43%. Vedant Fashions Ltd is a leading manufacturer and retailer of clothing in India. The company designs, manufactures, and markets a wide range of clothing products for men, women, and children. Vedant Fashions Ltd has a wide network of retail outlets across India. The company also has an online presence through its website and mobile app.
– Gfoot Co Ltd ($TSE:2686)
Gfoot Co Ltd is a company that manufactures and sells footwear. It has a market cap of 12.42B as of 2022 and a Return on Equity of -375.46%. The company’s products are sold in over 100 countries and it has over 30,000 employees.
Summary
Investors considering an investment in BUCKLE should be aware that the company reported lower total revenue and net income in its second quarter of FY2024 compared to the same period last year. Total revenue decreased by 3.2% to USD 292.4 million, while net income was down 9.0% to USD 45.6 million. It is important to note that BUCKLE has a history of cyclical earnings due to seasonality factors, so investors should keep an eye on future performance as the year progresses.
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