THE BUCKLE, INC. REPORTS SECOND QUARTER NET INCOME
KEARNEY, NE — The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended August 4, 2018 was $15.7 million, or $0.32 per share ($0.32 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended August 4, 2018 increased 2.8 percent to $201.1 million from net sales of $195.7 million for the prior year 13-week fiscal quarter ended July 29, 2017. Comparable store net sales for the 13-week period ended August 4, 2018 increased 1.4 percent from comparable store net sales for the prior year 13-week period ended August 5, 2017. Online sales increased 8.6 percent to $21.2 million for the 13-week period ended August 4, 2018, compared to net sales of $19.5 million for the 13-week period ended July 29, 2017.
Net sales for the 26-week fiscal period ended August 4, 2018 decreased 0.5 percent to $406.0 million from net sales of $407.9 million for the prior year 26-week fiscal period ended July 29, 2017. Comparable store net sales for the 26-week period ended August 4, 2018 decreased 0.9 percent from comparable store net sales for the prior year 26-week period ended August 5, 2017. Online sales increased 7.3 percent to $44.3 million for the 26-week period ended August 4, 2018, compared to net sales of $41.3 million for the 26-week period ended July 29, 2017.
Due to the 53rd week in fiscal 2017, comparable store net sales for the quarter and year-to-date periods are compared to the 13- week and 26-week periods ended August 5, 2017.
Net income for the second quarter of fiscal 2018 was $15.7 million, or $0.32 per share ($0.32 per share on a diluted basis), compared with $11.5 million, or $0.24 per share ($0.24 per share on a diluted basis) for the second quarter of fiscal 2017.
Net income for the 26-week fiscal period ended August 4, 2018 was $34.0 million, or $0.70 per share ($0.70 per share on a diluted basis), compared with $27.8 million, or $0.58 per share ($0.57 per share on a diluted basis) for the 26-week period ended July 29, 2017.
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 455 retail stores in 43 states. As of the end of the fiscal quarter, it operated 455 stores in 43 states compared with 463 stores in 44 states at the end of the second quarter of fiscal 2017.
