The Buckle's net income for the third quarter inched up 3.3% to $34.4 million, or 73 cents per share, from $33.3 million, or 73 cents, a year ago. Sales climbed 5.2% to $243.3 million from $231.2 million.
Comparable store net sales for the 13-week period ended Oct. 30, 2010 increased 0.5% from comparable store net sales for the prior year 13-week period ended Oct. 31, 2009. Online sales (which are not included in comparable store sales) increased 20.8% to $15.1 million.
Net sales for the 39-week fiscal period increased 3.7% to $646.8 million from net sales of $623.8 million. Comparable store net sales year-to-date decreased 1.0%. Online sales (which are not included in comparable store sales) increased 20.4%.
Net income for the 39-week fiscal period was $85.2 million, $1.81 per share on a diluted basis, compared with $85.2 million, or $1.83, a year ago.
The Buckle also announced that at a meeting of the board of directors, held on Nov. 17, the board authorized a $2.50 per share special one-time cash dividend to be paid to shareholders of record at the close of business on Dec. 3, 2010, with a payment date of Dec. 21, 2010.
|THE BUCKLE, INC.|
|STATEMENTS OF INCOME|
|(Amounts in Thousands Except Per Share Amounts)|
|Thirteen Weeks Ended||Thirty-nine Weeks Ended|
|October 30,||October 31,||October 30,||October 31,|
|SALES, Net of returns and allowances||$||243,346||$||231,238||$||646,782||$||623,841|
|COST OF SALES (Including buying,|
|distribution, and occupancy costs)||137,404||129,121||372,001||352,743|
|General and administrative||7,530||7,427||21,169||21,452|
|INCOME FROM OPERATIONS||54,349||51,673||133,062||131,525|
|OTHER INCOME, Net||470||1,192||2,869||3,651|
|INCOME BEFORE INCOME TAXES||54,819||52,865||135,931||135,176|
|PROVISION FOR INCOME TAXES||20,448||19,560||50,703||50,015|
|EARNINGS PER SHARE:|