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To: Scrumpy who wrote (54815)	8/6/1999 12:07:00 AM
From: kendall harmon	Respond to of 120523

BKE-from the omaha world herald Published Friday August 06, 1999 Buckle Stock Buckles BY JIM RASMUSSEN WORLD-HERALD STAFF WRITER Buckle Inc.'s stock price plummeted 35.3 percent Thursday after the Kearney, Neb.-based retailer warned that its fiscal second-quarter earnings would fall short of analyst estimates. Buckle stock fell $9.94 a share for the day, finishing at $18.25. More than 1.2 million shares changed hands, almost 14 times the stock's average trading volume over the past three months. The company, which sells clothing designed for teen-agers and young adults, estimated it would report earnings of 27 to 28 cents a share in the quarter that ended Sunday. That's below the 31-cent average estimate from stock analysts that follow the company. Buckle, which reported earnings of 26 cents a share in fiscal 1998's second quarter, will report its actual results next Thursday. The company's same-store sales fell 4.5 percent from year-earlier levels in the four weeks that ended Saturday. Over the past 26 weeks, same-store sales were up 3.8 percent. The comparisons are for stores open at least a year. Ryan Sailer, an analyst who follows Buckle for the Omaha-based Kirkpatrick Pettis investment firm, said Thursday's selloff was an overreaction to bad news. He said the Buckle is going against difficult comparisons with last year, when the company posted exceptionally strong sales growth. "We don't see any long-term problems with the company," said Sailer, who rates the stock a "buy." "They still have tough comparisons for another month or two, but they have a good track record. They'll be able to get back on track." Kyle Kavanaugh, an analyst with Pennsylvania Merchant Group in West Conshohocken, Pa., cut his rating on Buckle from "buy" to "hold" Thursday. He said he believes the company will report another same-stores sales decline in August. "There's now a cloud over the stock," Kavanaugh said. The plunge in Buckle's stock price was the largest percentage loss Thursday on the New York Stock Exchange. The company, which operates 238 stores in 32 states, said its overall sales rose 6.8 percent, to $28.4 million, in the four-week July period.