The Buckle, the Kearney, Neb.-based apparel retailer that caters to young men and women, reported Thursday that net income for the third quarter ending Nov. 2 was $40.6 million, down from $41.9 million during the same period a year ago.
That translates to 85 cents per diluted share in the third quarter, compared with 88 cents per diluted share a year ago.
Although same-store sales were down slightly in the third quarter, the company reported gains in online sales during the third quarter and the 39-week, year-to-date period — an 11.9 percent increase to $22 million, compared with online sales of $19.6 million during the same period a year ago. Year-to-date online net sales rose 7.9 percent to $59.7 million, compared with $55.4 million for the first 39 weeks of last year.
Comparable store sales for the third quarter decreased 0.5 percent from the same 13-week period last year. The company reported that year-to-date comparable store sales for the 39-week period ending Nov. 2 increased 1.2 percent over the same period last year.
Net income for the 39-week period ending Nov. 2 was $103.3 million, or $2.15 per diluted share, compared with $102.9 million, or $2.16 per diluted share, last year.
During an investor call Thursday, Chief Financial Officer Karen Rhoads announced that the company broke ground this week on “a new 80,000-square-foot-building that will provide additional office space as part of our home office campus here in Kearney.”
The Buckle currently operates 452 stores in 43 states, up from 440 stores that it operated in 43 states at this time last year.