The Buckle Inc. reported earnings rose 60 percent in the third quarter ended October 31 as same-store sales advanced 12.4 percent.
Net sales for the 13-week fiscal quarter ended October 31, 2020 increased 12.0 percent to $251.0 million from net sales of $224.1 million for the prior year 13-week fiscal quarter ended November 2, 2019. Comparable store net sales for the 13-week period ended October 31, 2020 increased 12.4 percent from comparable store net sales for the prior year 13-week period ended November 2, 2019. Online sales increased 72.5 percent to $46.4 million for the 13-week period ended October 31, 2020, compared to net sales of $26.9 million for the 13-week period ended November 2, 2019.
Net sales for the 39-week fiscal period ended October 31, 2020 decreased 7.4 percent to $582.4 million from net sales of $629.3 million for the prior year’s 39-week fiscal period ended November 2, 2019. Comparable store net sales for the 39-week period ended October 31, 2020, decreased 7.1 percent from comparable store net sales for the prior year 39-week period ended November 2, 2019. Online sales increased 67.3 percent to $124.4 million for the 39-week period ended October 31, 2020, compared to net sales of $74.4 million for the 39-week period ended November 2, 2019.
Net income for the third quarter of fiscal 2020 was $41.6 million, or 85 cents per share, 85 cents per share on a diluted basis, compared with $26.0 million, or 54 cents per share, 53 cents per share on a diluted basis, for the third quarter of fiscal 2019.
Net income for the 39-week fiscal period ended October 31, 2020 was $64.5 million, or $1.32 per share ($1.32 per share on a diluted basis), compared with $57.5 million, or $1.18 per share, $1.18 per share on a diluted basis, for the 39-week period ended November 2, 2019.
Photo courtesy Buckle
