• Q4 profit down 3.4% to US$59.3m 
  • Net sales fall 6% to $339m
  • Comparable store sales drop 2.8%

Lower sales contributed to a 3.4% decline in fourth-quarter profit at teen fashion retailer The Buckle.

The company, which operates 450 stores, today (14 March) said net profit stood at $59.3m for the 13 weeks to 1 February, compared to $61.4m in the same period of the prior year. Net sales fell 6% to $339m from $360.6m the previous year. 

During the 52 weeks to 1 February, net profit slipped 1% to $162.6m over $164.3m last year, while net sales reached $1.13bn, up 0.4% from $1.12bn in the prior year.

Show the press release

 

The Buckle, Inc. Reports Fourth Quarter and Fiscal Year 2013 Net Income

 

March 14, 2014 07:00 AM Eastern Daylight Time

KEARNEY, Neb.--(BUSINESS WIRE)--The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended February 1, 2014 was $59.3 million, or $1.24 per share ($1.23 per share on a diluted basis). Net income for the fiscal year February 1, 2014 was $162.6 million, or $3.41 per share ($3.39 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended February 1, 2014 decreased 6.0 percent to $339.0 million from net sales of $360.6 million for the prior year 14-week fiscal quarter ended February 2, 2013. Comparable store net sales for the 13-week period ended February 1, 2014 decreased 2.8 percent from comparable store net sales for the prior year 13-week period ended February 2, 2013. Online sales (which are not included in comparable store sales) increased 0.4 percent to $29.3 million for the 13-week period ended February 1, 2014, compared to net sales of $29.1 million for the 14-week period ended February 2, 2013.

Net sales for the 52-week fiscal year ended February 1, 2014 increased 0.4 percent to $1.128 billion from net sales of $1.124 billion for the 53-week fiscal year ended February 2, 2013. Comparable store net sales for the 52-week period ended February 1, 2014 were flat in comparison to the prior year 52-week period ended February 2, 2013. Online sales (which are not included in comparable store sales) increased 5.3 percent to $89.0 million for the 52-week period ended February 1, 2014, compared to net sales of $84.5 million for the 53-week period ended February 2, 2013.

The fourth quarter of fiscal 2013 was a 13-week fiscal period, ending The Buckle, Inc.’s 52-week fiscal year. The fourth quarter of fiscal 2012 was a 14-week fiscal period, ending a 53-week fiscal year. Comparable store net sales for the quarter and year-to-date periods are compared to the 13-week and 52-week periods ended February 2, 2013.

Net income for the fourth quarter of fiscal 2013 was $59.3 million, or $1.24 per share ($1.23 per share on a diluted basis), compared with $61.4 million, or $1.29 per share ($1.28 per share on a diluted basis) for the fourth quarter of fiscal 2012.

Net income for the fiscal year ended February 1, 2014 was $162.6 million, or $3.41 per share ($3.39 per share on a diluted basis), compared with $164.3 million, or $3.47 per share ($3.44 per share on a diluted basis) for the fiscal year ended February 2, 2013.

Management will hold a conference call at 10:00 a.m. EDT today to discuss fourth quarter results. To participate in the call, please call (888) 276-0005 and reference the conference code 321394. A replay of the call will be available for a two-week period beginning March 14, 2014 at 12:00 p.m. EDT by calling (800) 475-6701 and entering the conference code 321394.

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 450 retail stores in 43 states. As of the end of the fiscal year, it operated 450 stores in 43 states compared with 440 stores in 43 states at the end of fiscal 2012.

Original source: http://www.businesswire.com/news/home/20140314005065/en/Buckle-Reports-Fourth-Quarter-Fiscal-Year-2013#.UyMb1j9_uSo