Buckle, Inc. (BKE) reported a great first quarter as sales, earnings, and forecasts are all on the rise.
Company Description
Buckle offers casual apparel for young men and women. The company’s stores are located in malls across the U.S., but clothing and accessories can also be purchased through its web site.
Net Income Up 44%
Buckle released earnings results for the first quarter on May 2 that included a 25% increase in sales. Net sales for the quarter were just under $200 million, up from $160 in the same period last year.
Higher sales drove earnings to $27 million, or $0.58 per share which is a 44% year-over-year increase. The consensus heading into the announcement was just 49 cents, making it an 18% surprise.
Buckle is no stranger to beating estimates, in fact this was the company’s 11th consecutive surprise.
Estimates on the Rise
Since the press release all 10 of the covering analysts have raised their full-year estimates. The consensus is now $2.66, up from $2.49. Estimates for next year are now averaging $2.75, up from $2.52.
Analysts are projecting growth rates of 19% for 2009 and another 4% next year.
The Chart
The multi-colored lines below represent the consensus estimate for each full-year. As you can see, estimates are jumping off the charts.
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