Buckle Inc. (The) (BKE) released its first quarter results on Friday, May 21, 2021. The company reported net earnings of $1.16 per share for the first quarter ending April 30, 2021. Earnings for this past quarter were up 580 percent compared to the same period a year ago.
The Buckle, Inc. was incorporated in 1948 and is headquartered in Kearney, Nebraska. The Buckle, Inc. operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Departwest, Reclaim, Salvage, Nova Industries, and Veece.
Buckle's revenue increased 33 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 49.33% for the first quarter compared to the same period in the previous year, and operating margins increased to 25.34% over the same period. Net earnings for past trailing twelve months were $199.19 million, up 157% from the prior year.
Moving on to the balance sheet, Buckle's cash levels jumped 112% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 12.0% this past year. The current ratio for Buckle now stands at 2.16. The company increased shares outstanding by 0.77%.
Shares of BKE are currently trading around $40.32. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 9.95 and price to book ratio of 4.52.