Buckle (BKE), the retailer of casual apparel, footwear, and accessories, has recorded a 2.67 percent fall in profit for the quarter ended Aug. 02, 2014, due to higher costs and operating expenses.

The company earned $24.47 million or $0.51 a share in the second-quarter compared with $25.14 million or $0.52 a share a year ago. Analysts on average had predicted net income of $0.53 a share.

Revenue during the second-quarter went up marginally 1.37 percent to $235.72 million from $232.53 million in the last year period.

Gross margin contracted by 37 basis points over the previous year period to 40.27 percent. Total expenses as a percentage of revenues increased to 83.55 percent from 83.05 percent in the same period last year. That has resulted in contraction of 50 basis points in operating margins to 16.45 percent.

The company disclosed operating income of $38.77 million, compared with $39.40 million in the last year period.

Cash Position

As on Aug. 02, 2014, the company's cash balance stood at $169.46 million, up 64.44 percent or $66.41 million from Aug. 03, 2013.

Working Capital

Buckle has witnessed an increase in the working capital over the last one year. The company's working capital stood at $258.22 million as at Aug. 02, 2014, up $66.98 million or 35.03 percent from $191.23 million on Aug. 03, 2013. It registered an increase in current ratio to 3.59 as at Aug. 02, 2014 from 2.81 on Aug. 03, 2013.

Shares of the company declined $0.21 or 0.45 percent to trade at $46.87 on Thursday (9:42AM).