Specialty retailer and industrial customer The Buckle reported lower net sales year-on-year in its results for the quarter ended August 3.
Net sales for the 13-week quarter ended August 3 decreased 3.4% year-over-year to $282.4 million, compared to $292.4 million in the same quarter last year.
Comparable-store net sales decreased 6.6% year over year during the period. Online sales at Buckle also decreased 15.2% to $37 million, compared to net sales of $43.6 million in the year-ago quarter.
For the 26-week quarter ended August 3, net sales fell 5.3% to $544.9 million from $575.3 million in the prior year’s 26-week fiscal year ended July 29, 2023. Comparable store net sales fell 7.7% during the period. And online sales fell 14.2% to $81.4 million during the period.
Due to the 53rd week of fiscal year 2023, comparable store net sales for the quarter and year to date are compared to the 13- and 26-week periods ended August 5, 2023.
Net income for the 13-week quarter of fiscal year 2024 was $39.3 million, or $0.79 per share. Net income for the 26-week fiscal year ended August 3, 2024 was $74.1 million, or $1.49 per share, compared to net income of $88.6 million, or $1.79 per share, for the 26-week fiscal year ended July 29, 2023.
Buckle is headquartered in Kearney, Nebraska, and operates 440 retail stores in 42 states.
