The Buckle Inc. reported earnings rose 12.8 percent in the first quarter, to $37.8 million, or 79 cents per share, compared with
$33.5 million, or 71 cents,
for the first quarter of fiscal 2011. Sales for the 13-week fiscal quarter ended April 28, increased 9.9 percent to $263.8 million from net sales of $240.1 million.

Comparable store net sales for the 13-week period ended April 28, 2012 increased 7.4 percent from comparable store net sales for the prior year 13-week period ended April 30, 2011. Online sales (which are not included in comparable store sales) increased 15.1 percent to $19.7 million for the 13-week period ended April 28, 2012, compared to net sales of $17.1 million for the 13-week period ended April 30, 2011.

Headquartered in Kearney, Nebraska, Buckle currently operates 433 retail stores in 43 states.




Thirteen Weeks Ended



April 28,

April 30,



2012

2011







 

SALES, Net of returns and allowances


$
263,762


$
240,092







 

COST OF SALES (Including buying,






distribution, and occupancy costs)


 
 149,567


 
 137,148







 

Gross profit


 
 114,195


 
 102,944







 

OPERATING EXPENSES:






Selling



46,270



42,731

General and administrative


 
 9,903


 
 8,859




 
 56,173


 
 51,590







 

INCOME FROM OPERATIONS



58,022



51,354







 

OTHER INCOME, Net


 
 1,812


 
 1,612







 

INCOME BEFORE INCOME TAXES



59,834



52,966







 

PROVISION FOR INCOME TAXES


 
 22,025


 
 19,497







 

NET INCOME

$ 37,809

$ 33,469







 







 

EARNINGS PER SHARE:






Basic

$ 0.80

$ 0.72







 

Diluted

$ 0.79

$ 0.71







 

Basic weighted average shares



47,219



46,748

Diluted weighted average shares



47,597



47,264