The Buckle, Inc. reported its second-quarter earnings dipped slightly, to $23.2 million, or 49 cents a share, from $23.6 million, or 50 cents, a year ago. Net sales for the 13-week fiscal quarter ended July 28 increased 1.5 percent to $215.5 million from $212.4 million for the year-ago period.
Comparable store net sales for the 13-week period ended July 28, 2012 decreased 0.8 percent from comparable store net sales for the prior year 13-week period ended July 30, 2011. Online sales (which are not included in comparable store sales) increased 12.1 percent to $16.0 million for the 13-week period ended July 28, 2012, compared to net sales of $14.3 million for the 13-week period ended July 30, 2011.
Net sales for the 26-week fiscal period ended July 28, 2012 increased 5.9 percent to $479.2 million from net sales of $452.5 million for the prior year 26-week fiscal period ended July 30, 2011. Comparable store net sales year-to-date for the 26-week period ended July 28, 2012 increased 3.6 percent from comparable store net sales for the 26-week period ended July 30, 2011. Online sales (which are not included in comparable store sales) increased 13.7 percent to $35.7 million for the 26-week period ended July 28, 2012, compared to net sales of $31.4 million for the 26-week period ended July 30, 2011.
Net income for the second quarter of fiscal 2012 was $23.2 million, or $0.49 per share ($0.49 per share on a diluted basis), compared with $23.6 million, or $0.50 per share ($0.50 per share on a diluted basis) for the second quarter of fiscal 2011.
Net income for the 26-week fiscal period ended July 28, 2012 was $61.0 million, or $1.29 per share ($1.28 per share on a diluted basis), compared with $57.0 million, or $1.22 per share ($1.21 per share on a diluted basis) for the 26-week fiscal period ended July 30, 2011.
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Thirteen Weeks Ended |
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Twenty-six Weeks Ended | ||||||||||
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July 28, |
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July 30, |
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July 28, |
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July 30, | ||||
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2012 |
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2011 |
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2012 |
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2011 | ||||
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SALES, Net of returns and allowances |
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$ |
215,483 |
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$ |
212,378 |
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$ |
479,245 |
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$ |
452,470 |
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COST OF SALES (Including buying, |
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distribution, and occupancy costs) |
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128,980 |
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125,233 |
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278,547 |
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262,381 | ||||
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Gross profit |
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86,503 |
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87,145 |
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200,698 |
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190,089 | ||||
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OPERATING EXPENSES: |
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Selling |
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41,491 |
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42,428 |
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87,761 |
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85,159 |
General and administrative |
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8,622 |
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7,942 |
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18,525 |
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16,801 | ||||
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50,113 |
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50,370 |
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106,286 |
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101,960 | ||||
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INCOME FROM OPERATIONS |
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36,390 |
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36,775 |
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94,412 |
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88,129 |
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OTHER INCOME, Net |
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361 |
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506 |
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2,173 |
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2,118 | ||||
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INCOME BEFORE INCOME TAXES |
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36,751 |
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37,281 |
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96,585 |
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90,247 |
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PROVISION FOR INCOME TAXES |
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13,528 |
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13,723 |
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35,553 |
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33,220 | ||||
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NET INCOME |
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$ | 23,223 |
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$ | 23,558 |
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$ | 61,032 |
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$ | 57,027 |
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EARNINGS PER SHARE: |
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Basic |
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$ | 0.49 |
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$ | 0.50 | ||||||||
