02:57 PM EDT, 03/18/2024 (MT Newswires) -- Buckle's (BKE) earnings probably will remain under pressure in fiscal 2024 because of weak sales, UBS Securities said Monday in a report.

Based on the company's Q4 comparable store sales figures and February revenue trends, challenges will persist, and fiscal-year earnings per share may fall 13% from a year earlier.

"We think underperformance on women's categories, along with no replacement for Heydude volumes, should lead to ongoing negative y/y comp sales," UBS said.

Fixed costs are likely to continue pressuring fiscal 2024 margins, UBS said.

UBS reiterated its sell rating on the company's stock with a price target of $34.

Buckle shares fell 4.4% in recent trading Monday.

Price: 37.12, Change: -1.71, Percent Change: -4.40