The Buckle, Inc. reported net sales for the 13-week fiscal quarter ended November 2 (Q3) decreased 3.2 percent to $293.6 million from net sales of $303.5 million for the prior-year 13-week fiscal quarter ended October 28, 2023 (prior-year third quarter).
Comparable store net sales for Q3 decreased 0.7 percent year-over-year, compared to comparable store net sales for the prior-year third quarter. Online sales increased 1.1 percent to $46.6 million for 2024 Q3, compared to net sales of $46.1 million for the prior-year third quarter.
Net income for the third quarter of fiscal 2024 was $44.2 million, or 88 cents per diluted share, compared with net income of $51.8 million, or $1.04 per diluted share in the prior-year third quarter.
Net sales for the 39-week fiscal period ended November 2 (2024 YTD period) decreased 4.6 percent to $838.5 million from net sales of $878.7 million for the prior year 39-week fiscal period ended October 28, 2023 (prior-year YTD period).
Comparable store net sales for the 2024 YTD period decreased 5.4 percent from comparable store net sales for the prior-year YTD period. Online sales decreased 9.2 percent to $128.0 million for the 2024 YTD period, compared to net sales of $141.0 million for the prior-year YTD period.
Net income for the 2024 YTD period was $118.3 million, or $2.35 per diluted share, compared with net income of $140.3 million, or $2.81 per diluted share, in the prior-year YTD period.
Due to 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 39-week periods ended November 4, 2023.
Image courtesy The Buckle, Inc.
