Online sales for apparel retailer The Buckle slide nearly 3% in Q1
May 23, 2016 10:16 AM
E-commerce couldn’t save a bleak first quarter for youth apparel retailer The Buckle Inc.
The Buckle, No. 244 in the Internet Retailer 2016 Top 500 Guide, reported online sales of $23.5 million in fiscal Q1 2016, down 2.9% from $24.2 million in the same period last year, as same-store sales fell 11.1%. E-commerce accounted for 9.6% of Buckle’s overall sales during the quarter, compared to 8.9% last year.
Buckle executives told analysts on the earnings call Friday that the omnichannel retailer is replatforming its website to turn around sliding online and overall sales.
“We want to make our shopping experience better [online],” CEO Dennis Nelson told analysts on the call, according to a transcript from Seeking Alpha. “It doesn't happen overnight, but we're continually trying to involve our stores and Internet where it's very good for our best customers wherever they want to shop.”
“Our website is optimized for mobile, but we are continuing to look at ways that our mobile [site] can also encourage that in-store experience,” said vice president Kyle Hanson. He did not elaborate on how Buckle plans to leverage mobile to drive in-store business.
For the fiscal first quarter ended April 30, Buckle reported:
- Net sales of $243.5 million, down 10.2% from $271.3 million last year.
- Year-over-year comparable sales decline of 11.1%.
- Net income of $23.1 million, down 31.3% from $33.6 million.