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Retail doldrums drag down The Buckle

3/11/2016

Sales at teen retailer The Buckle slowed down over the holiday quarter, as a steep decline in comps negatively affected revenue.


For the fourth quarter ended Jan. 30, net sales decreased 6.1% to $332 million from net sales of $353.5 million for the prior year. Same store net sales decreased 7.2% from same store net sales for the prior Q4. Online sales increased 7.1% to $35.3 million, compared to net sales of $33 million in 2015.Net income for the fourth quarter of fiscal 2015 was $54.3 million, or $1.13 per share ($1.13 per share on a diluted basis), compared with $60.1 million, or $1.25 per share ($1.25 per share on a diluted basis) for the fourth quarter of fiscal 2014.


Net sales for the full year ended Jan. 30 decreased 2.9% to $1.120 billion from net sales of $1.153 billion in 2015. Comparable store net sales for the year decreased 4.4% from comparable store net sales for the prior year. Online sales increased 11.8% to $105.5 million, compared to net sales of $94.3 million for fiscal 2015.Net income for fiscal 2016 was $147.3 million, or $3.06 per share ($3.06 per share on a diluted basis), compared with $162.6 million, or $3.39 per share ($3.38 per share on a diluted basis) for the fiscal year ended Jan. 31, 2015.


Headquartered in Kearney, Neb., The Buckle currently operates 468 retail stores in 44 states.


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