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Net income slips 2.5% at garment retailer Buckle in Q2FY15

August 26, 2014 (United States Of America)

Net income slipped 2.5 percent, from the prior year quarter at NYSE-listed clothing retailer – The Buckle in the second fiscal quarter ended August 2, 2014.

Net income for the second quarter of 2014 touched $24.5 million or $0.51 per share, down from $25.1 million or $0.53 per share for the second quarter of 2013.

Net sales for the 13-week fiscal quarter ended August 2, 2014 rose 1.4 percent to $235.7 million from net sales of $232.5 million for the prior year 13-week fiscal quarter ended August 3, 2013, while, comparable store net sales declined 0.5 percent.

Online sales, which are not included in comparable store sales went up 1.7 percent to $17.1 million in the second quarter of 2014, compared to $16.8 million, the retailer posted in the year earlier period.

Net sales for the 26-week fiscal period ended August 2, 2014 increased 1.0 percent to $507.4 million from net sales of $502.2 million for the prior year 26-week fiscal period ended August 3, 2013. Comparable store net sales were down 0.7 percent.

Online sales in the first half of fiscal 2014 increased 2.1 percent to $38.6 million from $37.7 million in first half of fiscal 2013.

Net income for the 26-week fiscal period ended August 2, 2014 reached $61.8 million, or $1.29 per share, compared with $62.7 million, or $1.31 per share against same period of 2013.

The Buckle currently operates 456 retail stores in 44 states.


Fibre2fashion News Desk - India
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