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US fashion retailer Buckle's net sales at $282.8 mn in Q1 FY23
30 May 23 1 min read
Insights
- American fashion retailer Buckle's net sales dropped 8.5 per cent year-on-year (YoY) to $282.8 million in Q1 FY23.
- The company's comparable store sales were down 9.2 per cent, while online sales also fell by 5.6 per cent.
- Net income stood at $42.9 million in Q1 FY23, a drop from $55.3 million in the corresponding period of the previous fiscal.
Notably, comparable store net sales for Q1 FY23 decreased 9.2 per cent from the same period last year. The retailer also experienced a downturn in its online sales, which decreased 5.6 per cent to $51.3 million. This is compared to net sales of $54.3 million for the equivalent period in 2022, the company said in a media release.
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Buckle's net income for Q1 FY23 was reported at $42.9 million, or $0.87 per share ($0.86 per share on a diluted basis). This is a significant decrease compared to the first quarter of fiscal 2022, where the company reported net income of $55.3 million, or $1.12 per share.
Fibre2Fashion News Desk (DP)
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