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The Buckle posts 12.2% rise in Q3 sales

28
Nov '11
The Buckle Inc. announced that net income for the fiscal quarter ended October 29, 2011 was $38.3 million, or $0.82 per share ($0.81 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 29, 2011 increased 12.4 percent to $273.4 million from net sales of $243.3 million for the prior year 13-week fiscal quarter ended October 30, 2010. Comparable store net sales for the 13-week period ended October 29, 2011 increased 9.1 percent from comparable store net sales for the prior year 13-week period ended October 30, 2010.

Online sales (which are not included in comparable store sales) increased 25.4 percent to $18.9 million for the 13-week period ended October 29, 2011, compared to net sales of $15.1 million for the 13-week period ended October 30, 2010.

Net sales for the 39-week fiscal period ended October 29, 2011 increased 12.2 percent to $725.9 million from net sales of $646.8 million for the prior year 39-week fiscal period ended October 30, 2010. Comparable store net sales year-to-date for the 39-week period ended October 29, 2011 increased 8.7 percent from comparable store net sales for the 39-week period ended October 30, 2010.

Online sales (which are not included in comparable store sales) increased 22.0 percent to $50.3 million for the 39-week period ended October 29, 2011, compared to net sales of $41.2 million for the 39-week period ended October 30, 2010.

Net income for the third quarter of fiscal 2011 was $38.3 million, or $0.82 per share ($0.81 per share on a diluted basis), compared with $34.4 million, or $0.75 per share ($0.73 per share on a diluted basis) for the third quarter of fiscal 2010.

Net income for the 39-week fiscal period ended October 29, 2011 was $95.4 million, or $2.04 per share ($2.02 per share on a diluted basis), compared with $85.2 million, or $1.85 per share ($1.81 per share on a diluted basis) for the 39-week fiscal period ended October 30, 2010.

During the fiscal quarter ended October 29, 2011, the Company paid a special one-time cash dividend of $2.25 per share, which was paid with the regular quarterly dividend on October 27, 2011.

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 431 retail stores in 43 states. As of the end of the fiscal quarter, it operated 429 stores in 43 states compared with 421 stores in 41 states at the end of the third quarter of fiscal 2010.

The Buckle Inc


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