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The Buckle reports third quarter 2010 financial results

By
November 18, 2010 5:58 AM

Press Release:

 

KEARNEY, Neb.--(BUSINESS WIRE)-- The Buckle, Inc. (NYSE:BKE - News) announced today that net income for the fiscal quarter ended October 30, 2010 was $34.4 million, or $0.75 per share ($0.73 per share on a diluted basis).

 

The Buckle, Inc. also announced today that at a meeting of the Board of Directors, held on November 17, 2010, the Board authorized a $2.50 per share special one-time cash dividend to be paid to shareholders of record at the close of business on December 3, 2010, with a payment date of December 21, 2010.

 

Net sales for the 13-week fiscal quarter ended October 30, 2010 increased 5.2 percent to $243.3 million from net sales of $231.2 million for the prior year 13-week fiscal quarter ended October 31, 2009. Comparable store net sales for the 13-week period ended October 30, 2010 increased 0.5 percent from comparable store net sales for the prior year 13-week period ended October 31, 2009. Online sales (which are not included in comparable store sales) increased 20.8 percent to $15.1 million for the 13-week period ended October 30, 2010, compared to the 13-week period ended October 31, 2009.

 

Net sales for the 39-week fiscal period ended October 30, 2010 increased 3.7 percent to $646.8 million from net sales of $623.8 million for the prior year 39-week fiscal period ended October 31, 2009. Comparable store net sales year-to-date for the 39-week period ended October 30, 2010 decreased 1.0 percent from comparable store net sales for the 39-week period ended October 31, 2009. Online sales (which are not included in comparable store sales) increased 20.4 percent to $41.2 million for the 39-week period ended October 30, 2010, compared to the 39-week period ended October 31, 2009.

 

Net income for the third quarter of fiscal 2010 was $34.4 million, or $0.75 per share ($0.73 per share on a diluted basis), compared with $33.3 million, or $0.73 per share ($0.71 per share on a diluted basis) for the third quarter of fiscal 2009.

 

Net income for the 39-week fiscal period ended October 30, 2010 was $85.2 million, or $1.85 per share ($1.81 per share on a diluted basis), compared with $85.2 million, or $1.87 per share ($1.83 per share on a diluted basis) for the 39-week fiscal period ended October 31, 2009.

 

Management will hold a conference call at 10:00 a.m. EST today to discuss results for the quarter. To participate in the call, please call (800) 230-1059 and reference the conference code 177298. A replay of the call will be available for a two–week period beginning November 18, 2010 at 12:00 p.m. EST by calling (800) 475–6701 and entering the conference code 177298.

 

About Buckle

 

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 422 retail stores in 41 states. As of the end of the fiscal quarter, it operated 421 stores in 41 states compared with 404 stores in 41 states at the end of the third quarter of fiscal 2009.

 

 


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