The Buckle, Inc. announced that sales for the four-week period ended February 26, 2005 increased 11.1% to $32.6 million from sales of $29.3 million in the corresponding four-week period ended February 28, 2004. Comparable store sales, for stores open at least one full year, increased 6.4% for the same period.
Net sales for the fourth quarter ended January 29, 2005, increased 8.6 percent to $145.6 million from $134.1 million for the fourth quarter of fiscal 2003. Comparable store net sales, for stores open at least one full year, increased 3.7 percent for the fiscal quarter.
Net sales for the 52 weeks of fiscal 2004 increased 11.4 percent to $470.9 million from $422.8 million in the 52 weeks of fiscal 2003. Comparable store net sales increased 6.3 percent for the 2004 fiscal year. Beginning with the four-week period ended May 1, 2004, the Company changed its method of reporting comparable store sales to exclude Internet sales.
During fiscal 2004, the Company purchased 130,700 shares of the Company’s common stock at an average price of $26.29 per share. These shares were purchased pursuant to the corporate stock repurchase program authorized by the Board of Directors on December 27, 2000. The Company has 18,675 shares remaining to be purchased to complete this authorization.
Net income for the fourth quarter of fiscal 2004 was $17.1 million, or $0.79 per share ($0.76 per share on a diluted basis), compared with $15.0 million, or $0.71 per share ($0.69 per share on a diluted basis) for the fourth quarter of fiscal 2003.
Net income for the fiscal year ended January 29, 2005 was $43.2 million or $2.02 per share ($1.94 per share on a diluted basis), compared with $33.7 million or $1.60 per share ($1.56 per share on a diluted basis) for the fiscal year ended January 31, 2004.
As of January 29, 2005, the Company operated 327 stores versus 316 stores as of January 31, 2004.
