Buckle Inc., which positions itself as a denim destination for “fashion-conscious” young men and women, delivered a 10 percent profit decline on sales that fell 0.1 percent for the first quarter.
Sales dropped to $271.3 million from $271.7 million in the prior year while net income declined to $33.6 million, or 70 cents a share, from $37.3 million, or 78 cents. Same-store sales fell 2.2 percent. At the end of the quarter, the company operated 463 stores in 44 states, which compares to 450 stores in 43 states at the end of the same period last year. Gross margins dropped to 41.86 percent in the quarter as compared to 43.14 percent in the prior year.
Online, results were robust. The retailer said online sales rose 12.9 percent to $24.2 million from $21.4 million in the prior year. Brands offered online for women’s wear and footwear include the retailer’s signature BKE jeans, Billabong, Bench, Cobain, Under Armour, Steve Madden and Fossil, among others.