The Buckle’s Q3 Net Slides

Net sales for the 13-week fiscal quarter ended November 2, 2013 increased 0.9 percent to $286.8 million from net sales of $284.1 million for the prior year 13-week fiscal quarter ended October 27, 2012. Comparable store net sales for the 13-week period ended November 2, 2013 decreased 0.5 percent from comparable store net sales for the prior year 13-week period ended November 3, 2012. Online sales (which are not included in comparable store sales) increased 11.9 percent to $22.0 million for the 13-week period ended November 2, 2013, compared to net sales of $19.6 million for the 13-week period ended October 27, 2012.

Net sales for the 39-week fiscal period ended November 2, 2013 increased 3.4 percent to $789.0 million from net sales of $763.4 million for the prior year 39-week fiscal period ended October 27, 2012. Comparable store net sales year-to-date for the 39-week period ended November 2, 2013 increased 1.2 percent from comparable store net sales for the prior year 39-week period ended November 3, 2012. Online sales (which are not included in comparable store sales) increased 7.9 percent to $59.7 million for the 39-week period ended November 2, 2013, compared to net sales of $55.4 million for the 39-week period ended October 27, 2012.

Due to the 53rd week in fiscal 2012, comparable store net sales for the quarter and year-to-date periods are compared to the 13-week and 39-week periods ended November 3, 2012.

Net income for the third quarter of fiscal 2013 was $40.6 million, or $0.85 per share ($0.85 per share on a diluted basis), compared with $41.9 million, or $0.89 per share ($0.88 per share on a diluted basis) for the third quarter of fiscal 2012.

Net income for the 39-week fiscal period ended November 2, 2013 was $103.3 million, or $2.17 per share ($2.15 per share on a diluted basis), compared with $102.9 million, or $2.18 per share ($2.16 per share on a diluted basis) for the 39-week fiscal period ended October 27, 2012.

Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. Known as a denim destination, each store carries a wide selection of fits, styles, and finishes from leading denim brands, including the Company’s exclusive brand, BKE. Headquartered in Kearney, Nebraska, Buckle currently operates 452 retail stores in 43 states. As of the end of the fiscal quarter, it operated 452 stores in 43 states compared with 440 stores in 43 states at the end of the third quarter of fiscal 2012.