The Buckle posts modest second quarter sales gains
August 27, 2014 10:53 AM
Apparel chain retailer The Buckle Inc. had an unspectacular second quarter, recording minor web and total sales increases.
For the second fiscal quarter of 2014 ended Aug. 2, The Buckle, No. 236 in the 2014 Internet Retailer Top 500 Guide, reported:
- Online sales increased 1.8% to $17.1 million from $16.8 million in the second quarter of 2013.
- Comparable-store sales, excluding web sales, decreased 0.5%.
- Total sales of $235.7 million, a 1.4% increase $232.5 million.
- Net income was $24.5 million, down by 2.4% from $25.1 million in the second quarter of fiscal 2013.
The web accounted for 7.3% of total sales for the quarter, compared with 7.2% in the same period last year.
The Buckle is planning a 2015 rollout on a digital loyalty program, chief financial officer Karen Rhoads told Wall Street analysts on the company’s second quarter earnings call last week. Once work on its customer relationship management database is complete, the company will being testing, Rhoads told analysts, according to a transcript of the call from Seeking Alpha.
For the first six months of fiscal 2014, The Buckle reported:
- Online sales increased 2.4%to $38.6 million from $37.7 million in the prior year period.
- Comparable-store sales, excluding online sales, decreased 0.7%.
- Total sales increased 1.0% to $507.4 million from $502.2 million.
- Net income was $61.8 million, down by 1.4% from $62.7 million in the first half of 2013.
E-commerce represented 7.6% of total sales for the first six months of 2014, compared with 7.5% for the prior year period.