Buckle net sales decline 10.2 percent in Q1

The Buckle announced that net income for the quarter ended April 30, 2016 was 23.1 million dollars or 0.48 dollar per share. Net sales decreased 10.2 percent to 243.5 million dollars from net sales of 271.3 million dollars for the prior year 13-week fiscal quarter ended May 2, 2015.

Comparable store net sales decreased 11.1 percent from comparable store net sales for the prior year 13-week period ended May 2, 2015. Online sales decreased 2.8 percent to 23.5 million dollars, compared to net sales of 24.2 million dollars for the 13-week period ended May 2, 2015. Net income was 23.1 million dollars or 0.48 dollar per share compared with 33.6 million dollars or 0.70 dollar per share for the first quarter of fiscal 2015.

In absence of the impact of adjustment for estimated future rewards, total net sales for the quarter were down 9.1 percent and comparable store net sales were down 10 percent.

picture:buckle.com