• Q3 profit up 9.3% to $41.9m
  • Sales increased 3.9% to $284.1m
  • Online sales rose 3.8% to $19.6m

Denim specialist The Buckle has today (15 November) posted a 9.3% increase in third-quarter profit on the back of sales growth.

The retailer, which operates 440 stores, said net income reached US$41.9m for the 13-weeks to 27 October compared to $38.3m last year. Income from operations increased 9.6% to $66.2m.

Sales rose 3.9% to $284.1m, while comparable store sales climbed 2.4%. Online sales increased 3.8% to $19.6m.

Show the press release

 

The Buckle, Inc. Reports Third Quarter Net Income

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended October 27, 2012 was $41.9 million, or $0.89 per share ($0.88 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 27, 2012 increased 3.9 percent to $284.1 million from net sales of $273.4 million for the prior year 13-week fiscal quarter ended October 29, 2011. Comparable store net sales for the 13-week period ended October 27, 2012 increased 2.4 percent from comparable store net sales for the prior year 13-week period ended October 29, 2011. Online sales (which are not included in comparable store sales) increased 3.8 percent to $19.6 million for the 13-week period ended October 27, 2012, compared to net sales of $18.9 million for the 13-week period ended October 29, 2011.

Net sales for the 39-week fiscal period ended October 27, 2012 increased 5.2 percent to $763.4 million from net sales of $725.9 million for the prior year 39-week fiscal period ended October 29, 2011. Comparable store net sales year-to-date for the 39-week period ended October 27, 2012 increased 3.2 percent from comparable store net sales for the 39-week period ended October 29, 2011. Online sales (which are not included in comparable store sales) increased 10.0 percent to $55.4 million for the 39-week period ended October 27, 2012, compared to net sales of $50.3 million for the 39-week period ended October 29, 2011.

Net income for the third quarter of fiscal 2012 was $41.9 million, or $0.89 per share ($0.88 per share on a diluted basis), compared with $38.3 million, or $0.82 per share ($0.81 per share on a diluted basis) for the third quarter of fiscal 2011.

Net income for the 39-week fiscal period ended October 27, 2012 was $102.9 million, or $2.18 per share ($2.16 per share on a diluted basis), compared with $95.4 million, or $2.04 per share ($2.02 per share on a diluted basis) for the 39-week fiscal period ended October 29, 2011.

Management will hold a conference call at 10:00 a.m. EST today to discuss results for the quarter. To participate in the call, please call (800) 762-7308 and reference the conference code 270010. A replay of the call will be available for a two–week period beginning November 15, 2012 at 12:00 p.m. EST by calling (800) 475–6701 and entering the conference code 270010.

About Buckle

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 441 retail stores in 43 states. As of the end of the fiscal quarter, it operated 440 stores in 43 states compared with 429 stores in 43 states at the end of the third quarter of fiscal 2011.

 

Original source: http://www.businesswire.com/news/home/20121115005211/en/Buckle-Reports-Quarter-Net-Income