The Buckle, Inc. reported earnings rose 13.3 percent to $56.1 million, or $1.18 per share, from $49.5 million, or $1.05, a year ago. Net sales for the 13-week fiscal quarter ended Jan. 28
increased 11.2 percent to $337.1 million while comparable store sales increased 8.0 percent.
Online sales (which
are not included in comparable store sales) increased 30.9 percent to
$27.6 million for the 13-week period ended January 28, 2012, compared to
the 13-week period ended January 29, 2011.
Net sales for the year increased 11.9 percent to $1.063 billion from net sales of $949.8 million for the 52-week fiscal year ended January 29, 2011. Comparable store net sales for the 52-week period ended January 28, 2012 increased 8.4 percent from comparable store net sales for the prior year. Online sales (which are not included in comparable store sales) increased 25.0 percent to $78.0 million.
Net income for the fiscal year was $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis), compared with $134.7 million, or $2.92 per share ($2.86 per share on a diluted basis) a year ago.
| THE BUCKLE, INC. | ||||||||||||||||
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| STATEMENTS OF INCOME | ||||||||||||||||
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Thirteen Weeks Ended |
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Fifty-two Weeks Ended | ||||||||||
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January 28, |
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January 29, |
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January 28, |
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January 29, | ||||
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2012 |
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2011 |
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2012 |
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2011 | ||||
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SALES, Net of returns and allowances |
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$ |
337,076 |
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$ |
303,056 |
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$ |
1,062,946 |
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$ |
949,838 |
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COST OF SALES (Including buying, |
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distribution, and occupancy costs) |
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177,175 |
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158,708 |
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594,291 |
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530,709 | ||||
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Gross profit |
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159,901 |
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144,348 |
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468,655 |
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419,129 | ||||
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OPERATING EXPENSES: |
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Selling |
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59,991 |
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57,060 |
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195,294 |
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177,610 |
General and administrative |
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12,094 |
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9,583 |
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37,041 |
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30,752 | ||||
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72,085 |
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66,643 |
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232,335 |
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208,362 | ||||
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INCOME FROM OPERATIONS |
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87,816 |
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77,705 |
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236,320 |
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210,767 |
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OTHER INCOME, Net |
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1,730 |
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1,042 |
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4,161 |
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3,911 | ||||
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INCOME BEFORE INCOME TAXES |
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89,546 |
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78,747 |
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240,481 |
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214,678 |
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PROVISION FOR INCOME TAXES |
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33,466 |
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29,293 |
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89,025 |
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79,996 | ||||
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NET INCOME |
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$ | 56,080 |
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$ | 49,454 |
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$ | 151,456 |
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$ | 134,682 |
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