THE BUCKLE, INC. REPORTS SECOND QUARTER NET INCOME
KEARNEY, NE -- The Buckle, Inc. (NYSE: BKE) announced today that net income for the fiscal quarter ended July 28, 2012 was $23.2 million, or $0.49 per share ($0.49 per share on a diluted basis).
Net sales for the 13-week fiscal quarter ended July 28, 2012 increased 1.5 percent to $215.5 million from net sales of $212.4 million for the prior year 13-week fiscal quarter ended July 30, 2011. Comparable store net sales for the 13-week period ended July 28, 2012 decreased 0.8 percent from comparable store net sales for the prior year 13-week period ended July 30, 2011. Online sales (which are not included in comparable store sales) increased 12.1 percent to $16.0 million for the 13-week period ended July 28, 2012, compared to net sales of $14.3 million for the 13-week period ended July 30, 2011.
Net sales for the 26-week fiscal period ended July 28, 2012 increased 5.9 percent to $479.2 million from net sales of $452.5 million for the prior year 26-week fiscal period ended July 30, 2011. Comparable store net sales year-to-date for the 26-week period ended July 28, 2012 increased 3.6 percent from comparable store net sales for the 26-week period ended July 30, 2011. Online sales (which are not included in comparable store sales) increased 13.7 percent to $35.7 million for the 26-week period ended July 28, 2012, compared to net sales of $31.4 million for the 26-week period ended July 30, 2011.
Net income for the second quarter of fiscal 2012 was $23.2 million, or $0.49 per share ($0.49 per share on a diluted basis), compared with $23.6 million, or $0.50 per share ($0.50 per share on a diluted basis) for the second quarter of fiscal 2011.
Net income for the 26-week fiscal period ended July 28, 2012 was $61.0 million, or $1.29 per share ($1.28 per share on a diluted basis), compared with $57.0 million, or $1.22 per share ($1.21 per share on a diluted basis) for the 26-week fiscal period ended July 30, 2011.
Management will hold a conference call at 10:00 a.m. EDT today to discuss results for the quarter. To participate in the call, please call (800) 398-9402 and reference the conference code 256390. A replay of the call will be available for a two–week period beginning August 16, 2012 at 12:00 p.m. EDT by calling (800) 475–6701 and entering the conference code 256390.
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 439 retail stores in 43 states. As of the end of the fiscal quarter, it operated 439 stores in 43 states compared with 427 stores in 41 states at the end of the second quarter of fiscal 2011.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995; All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors which may be beyond the Company's control. Accordingly, the Company's future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
Note: News releases and other information on The Buckle, Inc. can be accessed at www.buckle.com on the Internet.
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