Trendy mall-based retailer The Buckle reported better-than-expected sales for the fiscal third quarter ended Oct. 30 on surging online transactions and solid growth for both women’s and men’s product.

 

Total revenues were up 5.2% to $243.3 from $231.2 a year ago as the denim and tee specialist continues to buck the trends of an unstable economy. Same-store sales for the period improved only marginally by about a half a percent, but online sales jumped 20.8% to $15.1 million.
Earnings for the quarter were $34.4 million, or 75 cents per share, up slightly from $33.3 million, or 73 cents per share, in the year-ago period.


Gross margin declined approximately 70 basis points to 43.5% on an increase in buying distribution and occupancy costs, which had a 110 basis point impact. Merchandise margins improved 40 basis points due to reduced markdowns that stemmed from strong sell-through of new products and improvement from the retailer’s private label business.

By merchandise category, men’s sales, which accounted for 38% of net sales compared to 37% last year, were up 7.5% on strength from denim, woven shirts and accessories. Average men’s price points decreased approximately 2% while men’s denim price points declined slightly. Women’s sales, which accounted for the remaining 62% of total sales compared to 63% last year, were up approximately 4% on strength from denim, woven tops and accessories. Average price points increased 3% while denim price points were down slightly.