KEARNEY, NE — The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended July 29, 2017 was $11.5 million, or $0.24 per share ($0.24 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended July 29, 2017 decreased 7.8 percent to $195.7 million from net sales of $212.2 million for the prior year 13-week fiscal quarter ended July 30, 2016.
Comparable store net sales for the 13-week period ended July 29, 2017 decreased 7.7 percent from comparable store net sales for the prior year 13-week period ended July 30, 2016. Online sales decreased 4.5 percent to $19.5 million for the 13-week period ended July 29, 2017, compared to net sales of $20.4 million for the 13-week period ended July 30, 2016.
Net sales for the 26-week fiscal period ended July 29, 2017 decreased 10.5 percent to $407.9 million from net sales of $455.7 million for the prior year 26-week fiscal period ended July 30, 2016. Comparable store net sales for the 26-week period ended July 29, 2017 decreased 10.3 percent from comparable store net sales for the prior year 26-week period ended July 30, 2016.
Online sales decreased 6.0 percent to $41.3 million for the 26-week period ended July 29, 2017, compared to net sales of $43.9 million for the 26-week period ended July 30, 2016.
Net income for the second quarter of fiscal 2017 was $11.5 million, or $0.24 per share ($0.24 per share on a diluted basis), compared with $15.5 million, or $0.32 per share ($0.32 per share on a diluted basis) for the second quarter of fiscal 2016.
Net income for the 26-week fiscal period ended July 29, 2017 was $27.8 million, or $0.58 per share ($0.57 per share on a diluted basis), compared with $38.6 million, or $0.80 per share ($0.80 per share on a diluted basis) for the 26-week period ended July 30, 2016.
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 463 retail stores in 44 states. As of the end of the fiscal quarter, it operated 463 stores in 44 states compared with 470 stores in 44 states at the end of the second quarter of fiscal 2016.
