Buckle looks to drive online shoppers into its stores
November 23, 2015 01:58 PM
Online sales grew by double digits for The Buckle Inc. as overall revenue slid, and the youth apparel retailer is crafting strategies to get those online shoppers into its bricks-and-mortar locations.
Buckle, No. 257 in the Internet Retailer 2015 Top 500 Guide, reported online sales of $25.9 million during the quarter, up 13.6% from $22.8 million during the same time last year. E-commerce accounts for 9.2% of overall revenue compared to 7.8% last year.
CEO Dennis Nelson told analysts on the retailer’s Q3 earnings call that the company aims to entice those online shoppers to come into the retailer’s physical stores.
“We are looking to, probably in the spring, add online order, pickup [in] stores free,” he told analysts, according to a transcript from Seeking Alpha. “We are continually working on investing on our online business, and we are working on a new base system for that going forward, building some staff there. We are trying to do it very smartly so that we can improve our business, but also stay profitable and not just be giving things away online.”
For the third quarter ended Oct. 31, Buckle reported:
- Net revenue of $280.2 million, down 4.1% from $292.2 million during the same time last year.
- Net income of $35.9 million, down 11.6% from $40.6 million.
- Comparable-store sales declined 5.2% year over year.
For the first nine months of 2015, Buckle reported:
- Net revenue of $787.6 million, down 1.5% from $799.6 million during the same time last year.
- Net income of $92.9 million, down 9.3% from $102.4 million.
- Comparable-store sales declined 3.1% year over year.