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The Buckle's Q3 Profits Fall 15%

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KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended October 28, 2017 was $19.9 million, or $0.41 per share ($0.41 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 28, 2017 decreased 6.2 percent to $224.3 million from net sales of $239.2 million for the prior year 13-week fiscal quarter ended October 29, 2016. Comparable store net sales for the 13-week period ended October 28, 2017 decreased 5.9 percent from comparable store net sales for the prior year 13-week period ended October 29, 2016. Online sales decreased 1.2 percent to $23.4 million for the 13-week period ended October 28, 2017, compared to net sales of $23.7 million for the 13-week period ended October 29, 2016.

Net sales for the 39-week fiscal period ended October 28, 2017 decreased 9.0 percent to $632.2 million from net sales of $694.9 million for the prior year 39-week fiscal period ended October 29, 2016. Comparable store net sales for the 39-week period ended October 28, 2017 decreased 8.8 percent from comparable store net sales for the prior year 39-week period ended October 29, 2016. Online sales decreased 4.3 percent to $64.7 million for the 39-week period ended October 28, 2017, compared to net sales of $67.6 million for the 39-week period ended October 29, 2016.

Net income for the third quarter of fiscal 2017 was $19.9 million, or $0.41 per share ($0.41 per share on a diluted basis), compared with $23.4 million, or $0.49 per share ($0.48 per share on a diluted basis) for the third quarter of fiscal 2016.

Net income for the 39-week fiscal period ended October 28, 2017 was $47.7 million, or $0.99 per share ($0.99 per share on a diluted basis), compared with $62.0 million, or $1.29 per share ($1.28 per share on a diluted basis) for the 39-week period ended October 29, 2016.

Management will hold a conference call at 9:30 a.m. EST today to discuss results for the quarter. To participate in the call, please call (800) 230-1093 for domestic calls or (612) 288-0337 for international calls and reference the conference code 432975. A replay of the call will be available for a two-week period beginning today at 11:30 a.m. EST by calling (800) 475-6701 for domestic calls or (320) 365-3844 for international calls and entering the conference code 432975.

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 462 retail stores in 44 states. As of the end of the fiscal quarter, it operated 461 stores in 44 states compared with 470 stores in 44 states at the end of the third quarter of fiscal 2016.

 

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