Sales rise, profits slip at The Buckle in Q2

The Buckle Inc. reported sales improvement even as net income slightly dropped in a mixed second quarter of fiscal 2022.

The specialty apparel retailer reported a 2.3% increase in net sales to $302 million from $295.1 million in the second quarter of fiscal 2021. This included a 6.5% year-over-year hike in online sales, to $46.2 million from $43.4 million. Comparable store net sales increased 1.6% from the prior year period.

Recent data from MasterCard SpendingPulse indicates that both apparel sales and e-commerce sales rose by double-digit percentage totals in July 2022 (the final month of Buckle’s second fiscal quarter).

Net income for the second quarter of fiscal 2022 was $50.1 million, or $1.02 per share ($1.01 per share on a diluted basis), down 2% from net income of $51.4 million, or $1.05 per share ($1.04 per share on a diluted basis) for the second quarter of fiscal 2021.

Headquartered in Kearney, Neb., Buckle currently operates 442 retail stores in 42 states. As of the end of the fiscal quarter, it operated 441 stores in 42 states compared with 442 stores in 42 states at the end of the second quarter of fiscal 2021.