The apparel retailer reported earnings of $0.92 per share, up 31% year-over-year, driven by a litigation settlement benefit.
Buckle posted first-quarter net income of $46.9 million, or $0.92 per diluted share, up from $35.2 million, or $0.70 per share, a year earlier. The gain reflected a 6.1% increase in net sales to $288.7 million and a $19.1 million litigation settlement reducing expenses.
Comparable-store sales rose 5.1%, while online sales grew 2.8% to $47.7 million. Gross margin declined 50 basis points to 46.2% due to higher occupancy costs, though selling and administrative expenses fell to 25.6% of sales from 30.7%.
The company attributed the expense reduction to the $19.1 million interchange fee litigation settlement, which offset margin pressures.