Buckle reports 80% decline in sales for month ending May 2
Apparel retailer Buckle Inc. said Thursday that sales for the fiscal month ending May 2 totaled $11.4 million, falling 80.8% from the previous month. For the first quarter ending on that day, sales were $115.4 million, down $201.3 million from the previous year. The FactSet consensus wass for $138.0 million. Online sales for the quarter rose 31.5% to $32.1 million. During the week of April 26, Buckle began to reopen stores with 37 back in operation. Another 100 stores will reopen during the week of May 3. Due to the store closures, the company doesn't plan to report same-store sales. First-quarter earnings are scheduled for May 22. Buckle stock is down 27.1% over the past year while the S&P 500 index has slipped 1.2% for the period.
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