MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
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KEARNEY, Neb.--(BUSINESS WIRE)-- The Buckle, Inc. (NYSE:BKE - News) announced today that net income for the fiscal quarter ended April 30, 2011 was $33.5 million, or $0.72 per share ($0.71 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended April 30, 2011 increased 11.8 percent to $240.1 million from net sales of $214.8 million for the prior year 13-week fiscal quarter ended May 1, 2010. Comparable store net sales for the 13-week period ended April 30, 2011 increased 8.1 percent from comparable store net sales for the prior year 13-week period ended May 1, 2010. Online sales (which are not included in comparable store sales) increased 18.6 percent to $17.1 million for the 13-week period ended April 30, 2011, compared to net sales of $14.4 million for the 13-week period ended May 1, 2010.
Net income for the first quarter of fiscal 2011 was $33.5 million, or $0.72 per share ($0.71 per share on a diluted basis), compared with $30.1 million, or $0.65 per share ($0.64 per share on a diluted basis), for the first quarter of fiscal 2010.
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 423 retail stores in 41 states. As of the end of the first quarter, it operated 422 stores in 41 states compared with 412 stores in 41 states at the end of the first quarter of fiscal 2010.