Teen retailer on hunt for new finance head

The Buckle is losing its finance chief.



The apparel retailer on Thursday said that Karen B. Rhoads, senior VP of finance and CFO, will retire later this summer. She will continue to serve as a member of the board. Rhodes joined the Buckle in 1980, and has served as CFO since 1991.



The retailer has hired an executive search firm to assist with the search for Rhoads’ replacement. Rhoads will remain in her role to support the search and to assist with the transition.



Also on Thursday, the Buckle reported disappointing results for its first quarter amid an ongoing sales slump. Net income for the quarter ended April 29, 2017 was $16.3 million, or $0.34 per share, just missing Street forecasts.



Net sales for quarter decreased 12.8% to $212.3 million. Same-store store net sales fell 12.7%. Online sales decreased 7.2% to $21.8 million.



Headquartered in Kearney, Nebraska, Buckle operated 462 stores in 44 states at the end of first quarter.