In-Store and Online Net Sales Decline at Buckle in Second Quarter
Specialty retailer and industry customer The Buckle reported lower year-over-year net sales in its results for the quarter ending Aug. 3.
Net sales for the 13-week quarter ending Aug. 3 were down by 3.4% year-over-year to $282.4 million compared to $292.4 million for the same quarter last year.
Comparable store net sales for that period decreased 6.6% from the previous year. Online sales at Buckle were also down by 15.2% to $37 million, compared to net sales of $43.6 million in last year’s quarter.
For the 26-week period ending Aug. 3, net sales were down by 5.3% to $544.9 million from net sales of $575.3 million for the prior year 26-week fiscal period ending July 29, 2023. Comparable store net sales for that period decreased 7.7%, while online sales decreased 14.2% to $81.4 million.
Because of the 53rd week in fiscal 2023, 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, 2023.
Net income for the 13-week quarter of fiscal 2024 was $39.3 million, or $0.79 per share. Net income for the 26-week fiscal period ended August 3, 2024 was $74.1 million, or $1.49 per share, compared with net income of $88.6 million, or $1.79 per share for the 26-week period ended July 29, 2023.
Headquartered in Kearney, Nebraska, Buckle operates 440 retail stores in 42 states.
