The Buckle, Inc. (BKE) has reported 29.49 percent fall in profit for the quarter ended Apr. 29, 2017. The company has earned $16.28 million, or $0.34 a share in the quarter, compared with $23.10 million, or $0.48 a share for the same period last year. Revenue during the quarter dropped 12.85 percent to $212.25 million from $243.54 million in the previous year period. Gross margin for the quarter contracted 40 basis points over the previous year period to 38.50 percent. Total expenses were 88.20 percent of quarterly revenues, up from 85.04 percent for the same period last year. That has resulted in a contraction of 316 basis points in operating margin to 11.80 percent.
Operating income for the quarter was $25.04 million, compared with $36.43 million in the previous year period.
Dennis H. Nelson, president and chief executive officer, commented "I join with all Buckle teammates in thanking Karen for her 33 years of commitment and dedication to Buckle. We appreciate Karen’s passion for the Company, her teamwork across all departments, and her leadership in developing such an outstanding finance team."
Working capital increases
The Buckle, Inc. has recorded an increase in the working capital over the last year. It stood at $299.89 million as at Apr. 29, 2017, up 10.25 percent or $27.89 million from $272 million on Apr. 30, 2016. Current ratio was at 4.11 as on Apr. 29, 2017, down from 4.18 on Apr. 30, 2016. Cash conversion cycle (CCC) has decreased to 22 days for the quarter from 71 days for the last year period. Days sales outstanding were almost stable at 4 days for the quarter, when compared with the last year period.
Days inventory outstanding has decreased to 42 days for the quarter compared with 88 days for the previous year period. At the same time, days payable outstanding went up to 23 days for the quarter from 20 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
