Press Release:
KEARNEY, Neb.–(BUSINESS WIRE)– The Buckle, Inc. (NYSE:BKE – News) announced today that net income for the fiscal quarter ended July 30, 2011 was $23.6 million, or $0.50 per share ($0.50 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended July 30, 2011 increased 12.6 percent to $212.4 million from net sales of $188.6 million for the prior year 13-week fiscal quarter ended July 31, 2010. Comparable store net sales for the 13-week period ended July 30, 2011 increased 8.9 percent from comparable store net sales for the prior year 13-week period ended July 31, 2010.
Online sales (which are not included in comparable store sales) increased 21.8 percent to $14.3 million for the 13-week period ended July 30, 2011, compared to net sales of $11.7 million for the 13-week period ended July 31, 2010.
Net sales for the 26-week fiscal period ended July 30, 2011 increased 12.2 percent to $452.5 million from net sales of $403.4 million for the prior year 26-week fiscal period ended July 31, 2010. Comparable store net sales year-to-date for the 26-week period ended July 30, 2011 increased 8.5 percent from comparable store net sales for the 26-week period ended July 31, 2010.
Online sales (which are not included in comparable store sales) increased 20.1 percent to $31.4 million for the 26-week period ended July 30, 2011, compared to net sales of $26.2 million for the 26-week period ended July 31, 2010.
Net income for the second quarter of fiscal 2011 was $23.6 million, or $0.50 per share ($0.50 per share on a diluted basis), compared with $20.7 million, or $0.45 per share ($0.44 per share on a diluted basis) for the second quarter of fiscal 2010.
Net income for the 26-week fiscal period ended July 30, 2011 was $57.0 million, or $1.22 per share ($1.21 per share on a diluted basis), compared with $50.9 million, or $1.10 per share ($1.08 per share on a diluted basis) for the 26-week fiscal period ended July 31, 2010.
The Buckle, Inc. also announced that Karen B. Rhoads will not step down from her position with the Company effective February 1, 2012 and plans to remain with the Company as Vice President of Finance and Chief Financial Officer.
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 428 retail stores in 42 states, which includes the opening of a new store in Providence, Rhode Island earlier this week (the Company’s first store in the state of Rhode Island). As of the end of the fiscal quarter, it operated 427 stores in 41 states compared with 419 stores in 41 states at the end of the second quarter of fiscal 2010. www.buckle.com
