US retailer Buckle reports drop in Q1 sales, profit

US fashion retailer Buckle has reported an 8.5 percent drop in sales in the first quarter of the year as its profits narrowed.

The Nebraska-based company made net sales of 282.8 million dollars in the three months ended April 29, down from 309.1 million dollars a year earlier.

Comparable store net sales were down 9.2 percent, while online sales fell 5.6 percent to 51.3 million dollars.

That came as the company’s net profit narrowed to 42.9 million dollars, or 0.87 dollars per share, from 55.3 million dollars, or 1.12 dollars per share, the prior year.